Trade Cancelations

What Happens If a Trade Needs to Be Canceled?

At Veriswap, accepted trades are commitments between two users. Once both parties have agreed to a trade, it cannot be canceled by default. This helps maintain fairness, trust, and accountability within the community.

That said, we understand situations can change. If you and your trade partner reach a new mutual agreement (e.g., card substitution or cash adjustment), please email customer support with the updated terms so we can assist.

How are cancellation requests evaluated?

Veriswap will always identify an offender as part of a trade cancellation. The identified offender may face the following penalties based on their trader status.

I am responsible for a trade cancellation, what penalties will apply?

If you are a new user (first time trader): Your platform fees are non-refundable. No additional penalties will apply.

If you are a returning user: You will enter a probation period. You will receive a platform fee increase on your next trade(s) until you clear your probation period.

What is the Probation Accountability Fee?

While you are on probation, an additional fee is automatically applied:

• 2% of the trade value

How long does probation last?

Probation ends at the sooner of:

• 30 days from the cancellation, or
• a successfully completed trade

When does the probation clock start?

At the time of the cancellation.

Will other traders see that probation period?

No. The probation status is only visible to the trader on probation. Other traders cannot see it.

Does the 2% fee apply to one trade or all trades during probation?

It applies to every trade while you are on probation.

Is the Probation Accountability Fee refundable?

No, the additional fee is non-refundable regardless of whether the trade is completed or cancelled.

When can my account be suspended for cancellations?

Your account may be suspended if you have both:

• 25% cancellation rate
• a minimum 12 completed trades