SELLER SETTLEMENT AND PAYOUT POLICY
Updated on March 4th, 2023
Tradesala will settle the payouts for your orders and securely send them right into your bank account after the seventh day of order delivery.
Seller settlement for successful delivery.
| Buyer Orders product | N (Anytime) | Remarks |
|---|---|---|
| Seller order processing time | Maximum of 5 Business days for dispatch. | 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 | After completing the 7 days return policy for an order that order will be considered as a completed order, Tradesala will settle the payouts for your completed orders and securely send them right into your bank account after the seventh day of order delivery. |
Seller settlement for Return/RTO Orders
| Buyer Orders product | N (Anytime) | Remarks |
|---|---|---|
| Seller order processing time | Maximum of 5 Business days for dispatch | 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. |
| Return/RTO Delivery | 7 days return policy will be enabled (all days considered irrespective of national holidays & state holidays) | Return/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. |
- Payouts for your orders are securely sent straight into your bank account after the seventh day of order delivery.
- In case the payout date falls on a non-working date, National holiday, State holidays or bank holiday then the settlement will be done on the next business day.
- 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.
- 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.
- 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
- 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.
- 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.
- 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.
- 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.
- 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.