Verified Supplier Program

Know Your Business (KYB) Verification

Last updated: April 2026

At Buystocklot, we aim to build a trusted B2B marketplace for wholesale trade. Our Know Your Business (KYB) Verification Program helps increase transparency between buyers and sellers.

What is KYB?

KYB (Know Your Business) is a process used to verify the identity and legitimacy of companies operating on the platform. Verified businesses receive a "Verified Supplier" badge, indicating that certain documentation has been reviewed.

How Verification Works

Buystocklot offers two verification methods:

1. Automated Verification

Preferred · Instant · 2-5 minutes

We use a third-party provider (Persona) to verify businesses digitally through official databases and identity checks.

2. Manual Verification

Document-based · 1-3 business days

If automated verification is unavailable or unsuccessful, users may submit documents manually for review by our team.

Manual Verification Requirements

To complete manual KYB verification, you may be asked to provide:

🏢 Business Documents

  • Valid Trade License / Certificate of Incorporation
  • Company Registration Document
  • VAT Certificate (if applicable)

👤 Ownership / Identity

  • Passport or Government ID of owner or director
  • Proof of authority to act on behalf of the business

📍 Additional Information (if required)

  • Company address verification
  • Website or business activity proof
  • Supporting documentation related to operations

Review Process

  • Manual verification is reviewed by our internal team
  • Processing time typically ranges from 1–3 business days
  • Additional information may be requested if needed

Verified Supplier Badge

Once approved, your account will display a Verified Supplier badge visible to buyers on your profile.

Important: The Verified Supplier badge means that identity and business registration documents were reviewed at a point in time. It is NOT an endorsement, recommendation, or guarantee of any kind by Buystocklot.

⚠️ Important Disclaimer

Verification by Buystocklot:

  • Does NOT guarantee the legitimacy, reliability, or financial standing of any user
  • Does NOT confirm product quality, authenticity, or delivery capability
  • Does NOT eliminate the risk of fraud or misrepresentation

All users must conduct their own independent due diligence before entering into any transaction.

Compliance & Regulatory Screening

As part of KYB, Buystocklot may:

  • Screen businesses against sanctions lists
  • Review for regulatory compliance risks
  • Request additional documentation at any time

We reserve the right to approve or reject verification requests, revoke verification status at any time, and suspend or terminate accounts for compliance reasons.

Re-Verification & Periodic Review

Buystocklot reserves the right to require re-verification at any time. Verified status may be subject to periodic review to ensure ongoing compliance. Changes to your business structure, ownership, or registration may trigger a re-verification requirement.

Document Retention

Submitted documents are retained for a minimum of 5 years for compliance purposes and may be deleted upon account closure, subject to legal and regulatory retention requirements. All documents are handled securely and used solely for verification and compliance purposes, in accordance with our Privacy Policy.

Geographic Limitations

Document verification standards may vary by jurisdiction. Buystocklot makes reasonable efforts but cannot guarantee the validity of documents issued by all jurisdictions worldwide.

Limitation of Liability for Verification

Buystocklot shall not be liable for any errors, omissions, or inaccuracies in the verification process, whether automated or manual. Users acknowledge that verification is a best-effort process and does not create any warranty or guarantee.

Misuse of Verification

Providing false or misleading information during verification may result in:

  • Immediate rejection of the verification request
  • Account suspension or permanent termination
  • Reporting to relevant authorities

Verification Fees

Buystocklot reserves the right to charge a verification processing fee in the future. Any applicable fees will be disclosed before submission and will not apply retroactively.

Your Responsibility

Even when dealing with verified users, you agree to:

  • Verify counterparties independently through your own due diligence
  • Assess all commercial risks before entering into any transaction
  • Use secure payment methods and protect your own interests

Buystocklot is not responsible for any transactions between users, whether or not they are verified.

Apply for Verification

To apply for KYB verification:

  • Complete your seller profile
  • Submit required documents via your dashboard
  • Or follow the verification prompt during onboarding

For assistance, contact marketplace@buystocklot.com.