Q: What is a seller of record?
The seller of record indicates which legal entity is identified as selling a product to the end consumer. Brands have the option to act as their own seller of record or outsource these responsibilities. If you outsource seller of record responsibilities to a partner, they resell your products to end consumers using a flash title – momentarily acting as the seller at the time of purchase.
A seller of record is responsible for coordinating all key financial elements of an online sale, including processing and fulfilling orders, collecting and remitting all payments and taxes, and ensuring full compliance with country-specific trade and tax laws. Additionally, they standardize financial set-up processes and work with local entities to enable localized payment methods and localized credit card acquiring.