Seller Payment Policy

Seller Payment Policy for Cube Pay Technology Private Limited (Marketplace)
Effective Date: 01-Nov-2024

This Seller Payment Policy outlines the terms and conditions governing the processing, disbursement, and handling of payments to sellers who use the CubeShop marketplace platform (cubeshop.in). By registering as a seller on our platform, you agree to comply with this policy in conjunction with the Seller Terms and Conditions, Refund and Cancellation Policy, Privacy Policy, and other relevant policies.

1. Payment Overview

1.1. Marketplace Payments:
As a seller on cubeshop.in, you will receive payments for products sold on the platform. Payments are processed through secure third-party payment gateways and will be deposited into your designated bank account based on the terms outlined below.

1.2. Payment Cycle:
Payments for completed orders will be processed and disbursed on a regular cycle, usually within [X] business days from the date the order is successfully delivered to the customer and the return/refund period has elapsed.

2. Payment Processing

2.1. Payment Method:
Payments will be processed via electronic bank transfer to the bank account you provide during registration. The funds will be transferred to the designated account after deducting platform fees and any applicable taxes.

2.2. Payment Gateway Providers:
Payments for products sold on the Marketplace will be processed through a secure third-party payment gateway, ensuring a smooth transaction process. Seller payments will be credited to their bank accounts through these payment gateways, less the commission and transaction fees.

2.3. Commission and Fees:
CubeShop will charge a commission on each sale made through the Marketplace. This commission will be automatically deducted from the total amount due to the seller before payment is processed. The commission rates will vary depending on product categories and will be disclosed to the seller at the time of registration and on the seller’s dashboard.

2.4. Tax Deductions:
Applicable taxes, including GST, will be deducted as per Indian taxation laws. You, as the seller, are responsible for handling your tax liabilities and ensuring compliance with Indian tax regulations.

3. Payout Timing and Frequency

3.1. Payout Schedule:
Seller payouts will be made after the successful delivery of the product to the customer and the expiry of the return window (as per the Returns and Refund Policy). The typical payout period is within [X] business days after delivery, subject to no pending issues with the order (e.g., disputes, chargebacks, or pending refunds).

3.2. Frequency of Payouts:
Payouts will be made on a bi-weekly or monthly basis (depending on your agreement with the Marketplace). Sellers can view the status of their pending payouts in the seller dashboard.

3.3. Minimum Payout Threshold:
A minimum payout threshold (e.g., ₹500 or ₹1,000) may apply before payouts are processed. If the seller’s earnings are below this threshold, the payment will be carried over to the next payout cycle.

4. Payment Disbursements

4.1. Bank Account Details:
Sellers must provide valid bank account details for payment disbursements. The account must be in the name of the registered business entity or individual. Payments will be made to the designated account provided during the registration process.

4.2. Changes to Bank Account Information:
If the seller wishes to change their bank account information, they must update their account details through the seller dashboard. Any changes to bank account details will only be processed after verification.

4.3. Payment Currency:
Payments will be made in Indian Rupees (INR). If the seller operates in a different currency, conversion fees may apply depending on the bank or payment provider.

4.4. Payment Reference:
Sellers will receive payment references for each payout, which will include details of the order ID, total sale amount, deducted fees (if any), and the final payout amount.

[Include sections 5-12 as they are, with the following updated contact details:]

11. Contact Information

For any questions or clarifications regarding this Seller Payment Policy, please contact our support team at:

Company Name: Cube pay Technology Pvt Ltd 
Email: Cubepay100@gmail.com, info@cubeshop.in
Phone: +91 7827788057
Address: 905 9th Floor, Gopal Height, Pitam Pura, New Delhi – 110034