BuySafe has chosen Liberty Mutual to be the main provider of surety bonds for its eBay-seller bonding service. The Hartford had been the main provider, and it will continue to be a BuySafe partner and investor.
BuySafe launched a year ago, enabling approved eBay sellers to financially protect buyers using surety bonds. Sellers purchase surety bonds from BuySafe and include the BuySafe seal in their eBay listings. The program is designed to assure buyers that it is safe to buy from participating sellers, who must pass a comprehensive inspection to ensure they are established and reliable. Sellers pay a percentage of their items' selling price to BuySafe.
With BuySafe's new relationship with Liberty Mutual, the service now guarantees the terms and conditions of purchases made from participating sellers with promised refunds of up to $25,000.
Dennis Perler, president of Liberty Mutual Surety, said "Bringing surety bond protection to Internet business is the logical next step in helping Internet buyers feel safe and secure in their Internet purchases. Surety bonds provide optimal protection by guaranteeing to Internet buyers the terms and conditions of purchase contracts entered into with companies selling on the Internet. This is an inexpensive way to experience worry-free shopping online."
