The worldwide spread of the COVID-19 pandemic has disrupted how people buy products and services and how they perceive e-commerce. The standardized lockdown rules across India and the growing hesitation among consumers to go outside and shop for essential goods have tilted the nation towards e-commerce.
Consumers have switched from shops, supermarkets, and shopping malls to online portals for the purchase of products, ranging from basic commodities to branded goods. Many people are embracing the concept of online retail and the surge in FTUs (First Time Users) on e-commerce sites is visible.
What are the Documents Required?
- Legal Structure
To start an ecommerce business in India, the first step is to choose the right legal structure for the business. The legal structure depends upon different factors like persons involved, capital, and risk involved.
- Business Registration
The next step to start an ecommerce business is to register the finalised legal structure for the business. An entity can register its legal structure through the Ministry of Corporate Affairs or Registrar of Firms using the existing processes.
- Terms and Conditions
The Terms and Conditions Policy is an important legal document to start an ecommerce business in. It covers all the user and company covenants in order to restrict the liability of e-commerce website. These conditions are drafted to restrict the liability of the business and need to be personalised according to the type of activities the business is involved in.
- Privacy Policy
Every single website collects data about their ways in a number of ways. For eCommerce services, this is of further significance as the data such as email addresses, session activity, and email addresses, to name a few, could be used to retarget your customers for marketing. A privacy policy is a document obligated by law, made between the website and its users.
- Cookie Policy
A return policy might make a marginal difference in your customers’ experience with your brand. For 80% of consumers, an inconvenient return policy is a daunting aspect. A thoroughly drafted return policy is vital to manage the expectation of your clients. It could also be the key to convert a prospective client to a long-term customer. E-commerce businesses should prioritize setting up their return policies along with logistics to ensure that it is fair to both parties.
- Warranty Policy
Depending on the types of products and services you offer, a warranty policy might also be vital for your business. A warranty serves as product insurance placing a certain guarantee to the customer in written form. It has an overview of terms and conditions in which repairs or exchanges would be made in case the product does not function as described initially.
- Vendor’s Agreement
The e-commerce business also needs to prepare a vendor’s agreement. This agreement defines the relationship between the vendors their rights and duties and company’s right to act against the vendors in case of default.
Why Are These Documents Essential?
E-Commerce opens up the opportunity for their customers to have visibility into order data and track the status of orders, too. They can also learn more about the products customers buy, receive tips on how to sell more of that product, and place orders on their own time. It is imperative that the business owners are aware of their rights and obligations under the documents. Documents serve as a gateway through which your franchise can enter new markets and expand its reach; other paperwork validates your current position and provides assurance to your E-commerce Business.
Approx. Costing for Documentation
Pricing for the documents varies from business to business. It is not fixed. There are many factors on which the pricing is decided. For example; the size of the company, complexity of documents, company’s past record, how big the company is is, ETC. Approx pricing starts from Rs. 15,000-20,000/- INR & can go until 2-3 Lakhs.
Help & Guidance to Make It
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