Certain items from consumer durable goods categories on the Sears Marketplace may be enabled by the Sears’ team to be eligible to be purchased via a third-party lease agreement as a form of payment. The option to lease is an addition to specific items sold by Sears which we have also extended to certain marketplace items as well instead of using a credit or debit card to pay for the purchase. This feature was implemented for the marketplace since we observed higher conversion rates for hardline items sold by Sears.
Who determines what items are eligible for lease?
Associates from Transform SR Holdings Management LLC (“Sears”) will make the eligibility determination based on predetermined guidelines with the third party leasing agent.
Does this change how I fulfill an item?
No, this does not change the fulfillment of the item. It is still shipped to the member at the address the member provides via the online checkout.
Does this change how I get paid for the item?
An item purchased by a lease does not impact the sell price, shipping cost or the commission rate of the order. Sears Marketplace sellers will continue to be paid by Sears through the current payment systems in place. It does, however, impact the taxes charged and how they are remitted. The leasing agent is a reseller hence they collect the tax on the item and remit it to the state authorities directly. The sales tax will be charged to the member but it will not be remitted to the sellers.
Instead, a tax-exempt certificate will be available via a URL for each order purchased with a lease. The tax-exempt certain certificate will be available via the Purchase Order Report and the Remittance Info Report as downloads in the Seller Portal or via the XML APIs. There will be no expiration date for the URL but we suggest you download and store them in your own systems.
How are returns done?
Within the normal return period, members will return goods directly to a seller. Once the item is marked as returned in the Seller Portal, the leasing agent will be notified by Sears to cancel the lease. After the return period is over, any returns would be handled between the member and the leasing agent.