There are no differences in what a Personal and a Business user can do or the fees that are applicable. But it is important to get this right as the law offers different levels of protection depending on whether you are acting in a personal or business capacity.
A personal account is for users who are buying/selling a few items for themselves and acting in a personal capacity. They are not buying on behalf of a business or selling goods that they have not used personally.
A business account is for users who are buying or selling items in a business capacity. It does not matter if the business has been legally incorporated or not.
If a user is buying for use in a business or a user is selling goods that have been bought or manufactured specifically to sell, then a Business Account should be set up.
Why is it Important to Select the Correct Type?
When buying and selling on Luvo, it is important to consider these 2 points:
- that you have classified yourself correctly, and
- what classification is the user who you are buying from or selling to? (their account type will be listed against their Buy Request or their Offer)
Here are some scenarios that outline why knowing the account type is important
1. If a business is selling to a private buyer, then this sale is covered by Consumer Contract Regulations, which means that the buyer has more rights and the seller has to give more information as part of the sale. See Consumer Contracts Regulations for more details.
2. All other possible scenarios are not covered by these regulations, for example
- Business seller to Business Buyer
- Private seller to Business Buyer
- Private seller to Private Buyer
So why don’t Businesses Register as Private Accounts?
Basically, it is against the law. Under the Unfair Commercial Practices Directive, it makes it illegal for businesses to provide untruthful information to consumers.
So if you are in any doubt about which account type to register with, you should seek your own legal advice as we are unable to advise you on this.
Needing to Change Account Type?
If you need to change your account type after you have registered, then this can easily be done at My Luvo>My Detail>Contact Details.