Effective July 6, 2022, OH SB 272, establishes mandatory disclosures by high-volume third-party sellers using online marketplaces. “High-volume third-party sellers” must disclose to a marketplace the seller’s bank account number, contact information, and tax identification number.
A high-volume third-party seller is a participant on an online marketplace’s platform that is a third party seller which in any continuous 12-month period during the previous 24 months, has entered into 200 or more discrete sales or transactions of new or unused consumer products through the online marketplace. Payment for which were processed by the online marketplace, either directly or through its payment processor, with an aggregate total of five thousand dollars or more in gross revenues.
Marketplaces must also require such sellers to disclose to consumers the contact information of the seller, and whether the seller used a different seller to supply the consumer product to the consumer upon purchase . Lastly, an online marketplace must provide consumers a reporting mechanism to facilitate the ability for consumers to report and suspicious activity on the marketplace.
The full bill text may be found here.
