1. Overview
This page describes the fees associated with using the Terra-Claim.com platform (the "Platform") and the payment processes for transactions.
TerraClaim LLC does not hold, custody, or escrow client funds. All payments are made directly between the relevant parties.
2. Platform Fees
2.1 Listing Fee
There is no fee to list a claim for sale on the Platform.
2.2 Buyer Transaction Fee
Buyers pay a platform administration fee upon successful completion of a transaction. This fee is calculated as a percentage of the claim face value or transaction value and is disclosed prior to transaction confirmation.
2.3 Seller Transaction Fee
Sellers pay a platform administration fee upon successful completion of a transaction. This fee is calculated as a percentage of the claim face value or transaction value and is disclosed prior to transaction confirmation.
2.4 Fee Schedule
| Fee Type | Rate |
|---|---|
| Buyer Fee | 2.5% of transaction value |
| Seller Fee | 2.5% of transaction value |
| Listing Fee | None |
Fees are subject to change. Current fees will be displayed at the time of transaction.
3. Payment Process
3.1 Claim Purchase Price
The claim purchase price is paid directly from the buyer to the seller. TerraClaim does not process, hold, or intermediate these funds. Payment instructions and methods are coordinated between the parties through the Platform.
3.2 Platform Fees
Platform administration fees are paid directly to TerraClaim LLC. Payment instructions will be provided upon transaction confirmation.
3.3 Payment Methods
Accepted payment methods for platform fees include:
- Wire transfer (USD)
- ACH transfer (US accounts)
4. Transaction Settlement
Transactions are executed via Transfer of Claim Agreements (TOCAs). The settlement process includes:
- Match confirmation between buyer and seller.
- Execution of the Transfer of Claim Agreement.
- Payment of the claim purchase price from buyer to seller.
- Payment of platform fees to TerraClaim LLC.
- Submission of transfer documentation to the bankruptcy court.
5. Refunds
Platform fees are non-refundable except in cases where a transaction fails to close due to circumstances solely attributable to TerraClaim. Refund requests will be evaluated on a case-by-case basis.
6. Taxes
You are solely responsible for determining and paying any taxes applicable to your transactions. TerraClaim does not provide tax advice. Consult a qualified tax professional for guidance.
7. Contact
For questions about fees and payments, please contact us at: hey@terra-claim.com