Seller Payment and Settlement Policy

This policy outlines the payment and settlement process for sellers on GRAABIT. Sellers must comply with these guidelines to ensure timely and accurate financial transactions.
Commission Structure
   – GRAABIT will deduct a commission ranging from 5% to 15% on each successful sale based on the category and agreed terms.
   – The applicable commission rate will be communicated to the seller during onboarding or prior to listing products.

Payment Cycle
   – Payments will be disbursed to sellers on a weekly basis, subject to the clearance of returns and other deductions.
   – The payment cycle may be adjusted during holidays or unforeseen circumstances, with prior notice to sellers.

Payment Method
   – Payments will be transferred directly to the seller’s registered bank account.
   – Sellers must ensure that accurate bank account details are provided and updated in their GRAABIT dashboard.

Settlement Deductions
   – The following deductions will be made before payment disbursal:
     – GRAABIT’s commission fees
     – Applicable taxes (GST, TDS, etc.)
     – Penalties for policy violations (if any)
     – Return or refund adjustments

Transaction Fees
   – Any transaction processing fees associated with the payment gateway will be borne by the seller.

Payment Discrepancies
   – Sellers must report any payment discrepancies within 7 days of receiving the settlement report.
   – GRAABIT will investigate and resolve genuine discrepancies promptly.
Liability Disclaimer
   – GRAABIT is not liable for any losses due to incorrect bank account details provided by sellers.
   – Sellers are responsible for ensuring the accuracy of their financial information.

Legal Responsibility Clause
   – If any legal issue arises due to false or inaccurate financial declarations or unauthorized transactions by a seller, the specific seller will bear full legal responsibility.
   – GRAABIT shall not be held liable for any consequences or legal actions resulting from such incidents.

Policy Updates
   – GRAABIT may revise this policy from time to time. Sellers will be notified of any changes.

By participating in GRAABIT’s payment and settlement process, you acknowledge that you have read and understood this policy and agree to comply with it.