SELLER SETTLEMENT AND PAYOUT POLICY

Tradesala will settle the payments for the Orders received from the Buyers to the Seller to the Seller’s designated bank account on the settlement cycle date based on the following settlement cycles based on the delivery being a successful or failed delivery.

Seller settlement cycle for successful delivery.

Buyer Orders product N (Anytime) Remarks
Seller order processing time Maximum of 1 Business Day for Order acceptance and Invoice generation.
Maximum of 5 Business days for dispatch
If seller fails to accept and generate an invoice within one business day the order will be cancelled and a refund will be initiated to theBuyer.
If the seller fails to process the order for dispatch within 5 Business days the order will be cancelled and a refund will be initiated to the Buyer.
Forward logistics Delivery (FWD) 15 Business days (May vary according to the size and quantity of the product ordered by the buyer) 15 Business days is the maximum period within which the orders can be delivered.
Success Delivery (SD) 7 days return policy will be enabled (all days considered irrespective of national holidays & state holidays) Upon completion of the 7 days return period it shall be deemed that the Buyer is satisfied with the product that is delivered.
Settlement cycle After completing the 7 days return policy for an order that order will be considered as a success order (SO), and the earning of the accumulated SO’s cycle will be deposited according to the nearest settlement cycle date fixed by Tradesala.

Seller settlement cycle for failed delivery (RTO Orders)

Buyer Orders product N (Anytime) Remarks
Seller order processing time Maximum of 1 Business Day for Order acceptance and Invoice generation.
Maximum of 5 Business days for dispatch
If seller fails to accept and generate an invoice within one business day the order will be cancelled and a refund will be initiated to the Buyer.
If the seller fails to process the order for dispatch within 5 Business days the order will be cancelled and a refund will be initiated to the Buyer.
Forward logistics Delivery (FWD) 15 Business days (May vary according to the size and quantity of the product ordered by the buyer 15 Business days is the maximum period within which the orders can be delivered.
RTO Delivery (FD) 7 days return policy will be enabled (all days considered irrespective of national holidays & state holidays) RTO takes place when the Buyer is not satisfied with the product delivered and returns the product.
Bulk orders are not eligible for return and refunds (Only under applicable criteria).
Return and Refund A Refund will be initiated to Buyer upon probe.
(15 business days window) A return pickup will be initiated by the seller.
RTO payment will be made upfront by the seller before RTO is initiated.
  1. Seller Settlement Closing date is on 5th of every month. Eligible only for Successful Orders.
  2. Seller payment settlement cycle date will be on 10th of every month and Tradesala has reserves full rights to change the Settlement cycle date at any given point of time with proper notification / announcements to the registered Sellers.
  3. In case the 10th of month falls on a non-working date, National holiday, State holidays or bank holiday then the settlement will be done on the next business day.
  4. If the settlement transaction to the Seller fails and reverts back, an additional two attempts will be done before processing a manual method of payment settlement; For manual method of payment will comprises of cheque deposit, NEFT or RTGS methods directly from Tradesala partnered bank to seller registered bank account which may take upto 10 business day after the third failed attempt.
  5. The seller shall be entitled to receive the amount only after deductions made by Tradesala for the services provided. The seller shall also be subjected to the charges for the services provided by any third party engaged by Tradesala in the usual course of its business.
  6. We shall be entitled to recover from the Seller, from time to time, any amounts due from it or incurred by us on account of the following, unless the same are caused on account of negligence, act or omission of our or its employees, officers etc.:
    • i. Any penalty or charge which may be levied on us by the Payment Instruments or the clearing house i.e. Reserve Bank of India or its local clearing agent (as the case may be) arising, inter alia, for:
    • ii. Any amount due to us from the Sellers
  7. If there are reasonable grounds to suspect that a transaction has been conducted in breach of any applicable laws or is a fraudulent transaction, Payment Instruments shall be entitled to suspend or withhold the payments of the Seller that are due to the Seller, pending enquiries by the Payment Instruments and till the resolution of such issues.
  8. If any of the issues stated in this clause are caused by or on behalf of Seller, Seller shall indemnify and hold us harmless against any such claims made by the Payment Instruments, or the Buyer(s), as the case may be.
  9. In case of a settled transaction that is reversed to the Buyer(s) by the Payment Instruments, we reserve our right to withhold the settlements to the Sellers, pending enquiries by the Payment Instruments or any regulatory body, as the case may be, till the resolution of such issues.
  10. In case of any returns request or claims or disputes, we reserve the right to withhold the settlement of payments to the Sellers till the resolution of such return requests, claims or disputes, as the case may be.
  11. If there are any discrepancies in the settlement towards the seller then the seller can report the issue directly using the ‘Report an Issue’ icon under finance section in the vendor dashboard or the seller can reach out to us via vendorsupport@tradesala.com.

you are advised to review this seller Settlement and Payouts policy periodically for any changes. Any changes to this seller Settlement and Payouts policy are binding and effective when they are posted on this page.