i understand u very well
if u check the multi vendor u will see that 1 and 2 are in the code. vendor can only see it's own products and cannot see customers info.
regarding the third part as i wrote before a store CANNOT take responsibility on vendors products. If the store charge for vendors product it takes, by law, full responsibility on the product including customer support, returns and so.
Further u dont get 10 invoices cuz the each vendor get one order with it's own product. so if u have 3 products from 3 vendors at checkout, the system place 3 different orders. the customer checkout only once but behind the system place 3 orders.
I dont see any way where u will be responsible for your vendor products, shipping, stuck or customer service, it's a suicide.
i dont know any store in the world that work the way u described !!!
Please explore the demo store, log in as vendor, add products, place orders (demo it's free) from different vendors see how it works
I guess there is not such a concept as a "standard" multi-vendor situation. In each case it all depends on the stores business model. I agree that it can be risky to assume the vendors responsibility, so in such cases order and payment should be split and then the risk is implicitly assumed by the buyer/customer (E-Bay case). There are other cases such as Amazon where the store assumes full responsibility: one payment to store owner who splits the proceeds (net of commission) to the vendors.