Hi, this is Attorney Elizabeth Potts Weinstein, and today we're discussing the top five online business problems and how to handle them. 1. Chargebacks and Money Disputes Chargebacks are a common issue for online businesses. A chargeback occurs when a customer disputes a payment made by credit card or PayPal, resulting in the funds being held in escrow during the dispute resolution process. This can take up to a month and a half. Preventive Measures: Maintain Sufficient Funds: Always have enough money in your business checking account to cover potential chargebacks. Use Written Contracts: Ensure you have a formal contract or terms and conditions that customers must agree to at the time of purchase. This documentation is crucial for disputing chargebacks successfully. Handling Chargebacks: Provide Proof: When disputing a chargeback, present evidence of the delivered product or service along with the customer's agreement to the terms and conditions. 2. Intellectual
Hi, this is Attorney Elizabeth Potts Weinstein, and today we're discussing the top five online business problems and how to handle them. 1. Chargebacks and Money Disputes Chargebacks are a common issue for online businesses. A chargeback occurs when a customer disputes a payment made by credit card or PayPal, resulting in the funds being held in escrow during the dispute resolution process. This can take up to a month and a half. Preventive Measures: Maintain Sufficient Funds: Always have enough money in your business checking account to cover potential chargebacks. Use Written Contracts: Ensure you have a formal contract or terms and conditions that customers must agree to at the time of purchase. This documentation is crucial for disputing chargebacks successfully. Handling Chargebacks: Provide Proof: When disputing a chargeback, present evidence of the delivered product or service along with the customer's agreement to the terms and conditions. 2. Intellectual
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