Your Assurance of Authenticity
Financial Guarantee Policy
Legit App is committed to ensuring the authenticity of every item we certify. To provide you with peace of mind, we offer a ninety-day Financial Guarantee on all items authenticated by Legit App.
Scenario 1: Legit App-Initiated Review
Legit App maintains an exceptional accuracy rate of over 99.9% since its launch in 2020. Each item undergoes a rigorous multi-step authentication process involving multiple expert human reviews and advanced AI technology. To further ensure accuracy, an additional review team scrutinizes each authentication result. If any discrepancies are identified in the final result, we will proactively initiate the Financial Guarantee process and notify the user.
Scenario 2: User-Initiated Dispute
If you believe an authentication result given by Legit App is not confirmed, you can initiate a dispute by submitting a formal dispute request. Upon approval of your request, we will promptly investigate your claim and process a resolution within 20 business days.
Initiating a Dispute:
To initiate a dispute, please follow these steps:
- Access the dispute form with your Legit App account.
- Complete the form with all required information and pay the dispute fee.
- Our team will review your request and provide you with an update on the next steps.
Dispute Resolution Process:
If your dispute request is processed, we will provide you with a prepaid shipping label to send the item to our authentication center. Our experts will re-evaluate the item and determine the outcome.
Possible Outcomes:
Authentication Result Re-Confirmed
Authentication Result Not-Confirmed
- You will be responsible for the dispute fee paid.
- If the final authentication result confirms the item is authentic, it will be returned to you. However, if the item is determined to be a replica, it cannot be returned due to legal and ethical reasons. Legit App will retain possession of the item for further analysis and research.
Authentication Result Not-Confirmed
- You will receive a financial guarantee payment, as outlined in table below.
- If the final authentication result confirms the item is authentic, it will be returned to you. However, if the item is determined to be a replica, it cannot be returned due to legal and ethical reasons. Legit App will retain possession of the item for further analysis and research.
Financial Guarantee Payment Calculation:
| General Users | Verified Enterprise Users | |
|---|---|---|
| REPLICA Result Not Confirmed | Payment in Legit App tokens, equal to 10x the tokens used for authentication. | Payment in Legit App tokens, equal to 50x the tokens used for authentication. |
| AUTHENTIC Result Not Confirmed | Payment in USD, equal to 10x the token value (1 USD = 1 token). | Payment in USD, capped at 2,000 USD, based on the market value of the authenticated item. This value is determined by comparing your purchase price to prevailing market rates, considering factors such as style, age, and condition. If your purchase price significantly exceeds the market rate, the Financial Guarantee payment may be adjusted accordingly. |
Dispute Fee:
| Quoted Financial Guarantee Payment (For tokens, 1 token values at 1 USD) | Dispute Fee to Pay (In the event of of result being re-confirmed) |
|---|---|
| Under $500.00 | $100.00 |
| Between $500.00 and $1000.00 | $150.00 |
| Over $1000.00 | $200.00 |
| All Shipping Fee | Charge separately |
Supplementary Information:
Eligibility
Non-Transferable Guarantee
Validity Period
Coverage
Proof of Purchase
Payment Method
Appeals
- Only the individual or entity listed as the Certificate Holder on the Legit App certificate of authenticity can initiate a dispute. The Certificate Holder must provide proof of ownership of the disputed item.
- The individual or entity listed as the Certificate Holder must have ownership of the disputed item at the time of the dispute.
Non-Transferable Guarantee
- Legit App Certificates and the associated Financial Guarantee are non-transferable.
Validity Period
- The Financial Guarantee is valid for ninety days from the original authentication completion date.
Coverage
- We will request documentation from you to verify the purchase price of the item, such as receipts or invoices.
- We will compare your purchase price to the prevailing market rate for similar items, considering factors such as style, age, condition, and any relevant provenance. If your purchase price significantly exceeds the market value, the Financial Guarantee payment may be adjusted accordingly.
- All shipping costs associated with returning the item when the final authentication result in dispute resolution is not confirmed will be covered by Legit App.
- The Financial Guarantee does not cover any additional costs incurred by you or your customers, including but not limited to shipping fees, taxes, duties, or third-party authentication services.
- For transactions in foreign currency, the Financial Guarantee payment will be made in USD, based on the exchange rate at the time of payment.
Proof of Purchase
- Valid proof of purchase must clearly show the amount paid, identify the item, and confirm that the Certificate Holder as the purchaser.
- To process your claim, we may require documentation to verify the purchase price, such as receipts, invoices, loan agreements or consignment contracts.
Payment Method
- Financial Guarantee Payments will be processed via wire transfer.
Appeals
- The findings of the Legit App Dispute process are final.
Legit App Inc. reserves the right to interpret and apply this Financial Guarantee Policy. Any disputes arising from the interpretation or application of this policy shall be resolved by Legit App Inc. at its sole discretion. No individual or entity shall have any claim against Legit App Inc. arising from or related to this Financial Guarantee Policy.
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