Top Ten Things to Know About the Alibaba Fair Play Fund

Everyone (David Letterman, especially) likes a Top Ten list, right?

Well, I have gone through and compiled the top ten things that you should know about the Alibaba Fair Play Fund.  Some of it may be repetitive or already has been mentioned on Alibaba Fair Play Facts, but it never hurts to have a list in one place, especially if you have been scammed or defrauded.

Here does:

Top Ten Things To Know About the Alibaba Fair Play Fund

1. The Alibaba Fair Play Fund was established in 2009 and covers disputes between buyers and Alibaba Gold Suppliers.  If you think that you have been defrauded, you may be eligible to apply for compensation.
2. The Fair Play Fund is a process;  if a buyer feels that she has been defrauded, she can present a claim and start a process - but it involves due process of substantiating a claim.
3. Alibaba helps both buyers and suppliers by providing assistance in compiling documentation and other evidence to resolve business differences, and when necessary, to pursue legal claims.
4. To help avoid complaints, Alibaba provides supplier verification services as well as inspection services.
5. Since it's inception, 2,700 complainants with substantiated claims have benefitted from the Fair Play Fund.
6. There are eleven million registered users on Alibaba.com, and 2,700 substantiated complaints works out to .02% of all transactions. 
7. Less than 0.05% of buyers have reported potentially fraudulent activity.
8. Alibaba has paid out more than US $2,200,000 since the Alibaba Fair Play Fund started in 2009.
9. Pay-outs are not dollar-for-dollar.  Claimants with losses of US $1,400 or less are eligible for 70 percent of amount lost. Claimants with losses greater than US $1,400 will receive a maximum of US$1,000. Two-thirds of complainants lost less than US $1,000 to fraud.
10. DO YOUR HOMEWORK FIRST on potential Alibaba.com Gold Suppliers and perhaps you can avoid scam and fraudsters altogether - and not have to use it.