Seller Payment Terms

Seller Payment Terms (SPT) is an integral part of Terms & Conditions governing the use of Wayfarerr.  

 

Legend:

 

SPT Seller Payment Terms
CMP  Cummulative Monthly Payment
PD Payment Date (Last day of the month)
PP Payment Period. FROM 12:00 am on the 16th day of the previous month TO 11:59 pm on the 15th day of the current month
CPP Completed PP. The PP for which all the days have been accounted for or completed
LCPP Latest CPP
CDT Cutoff Date & time - 11:59 pm on the 15th day of a month
TVO  Total value of all the orders received by the Seller for all of his / her listed Products & Services within LCPP
VSFDO  Value of Seller Favored Disputed Orders. Total amount of disputed orders settled in favor of Seller in the last but one CPP
Refunds. Total value of refunds initiated within the LCPP
CDB  Cancellation due to Buyer. Total value of orders cancelled by Buyers within LCPP
VDO  Value of Disputed Orders. Total value of disputed orders within LCPP
CB  Chargebacks. Total value of CB within LCPP
SIC  Seller Incurred Charges
TF  Trading Fee. Fee payable by Seller to Wayfarerr for using the ecommerce platform and other allied services for execution of Buyer's orders @ fixed percentage of the order value
ST  Service Tax

 

Seller will be paid CMP by Wayfarerr, on a monthly basis for the concluded sales, on the PDCalculation of CMP is based on the formula, terms and conditions described below. Seller agrees to the following calculation, terms and conditions, before listing his / her products and services on Wayfarerr.com. CMP is calculated for the LCPP  and disbursed on the PD. If the Seller does not agree with the contents of SPT, wholly or partially, he / she should not conduct business on Wayfarerr.com and immediately delete his / her listings (if listed already) and apply for cancellation of his / her Seller Registration by contacting Wayfarerr via WSupport in the Seller Dashboard. 

 

Calculations, Terms & Conditions involved in arriving at the CMP for the current month:

 

Conditions for including the orders into consideration for calculating the CMP for LCPP is that

- ordered products and services are listed by the Seller under his / her own selling account

- the ordered Products have to be succesfully delivered, without any dispute calims by the Buyer, within the LCPP
- the booked Services have to be succesfully rendered, without any dispute claims by the Buyer, within the LCPP
- Products ordered within the LCPP, but delivered beyond the CDT, will not be part of the calculations for current month but will be included for next month CMP calculations, provided the products are delivered succesfully, without any dispute claims by the Buyer, within the next CPP
- Services booked within the LCPP, but for the dates beyond the LCPP, will not be part of the calculations for current month but will be included for the corresponding CPP for which the service is booked, provided the services are rendered succesfully, without any dispute claims by the Buyer, within that corresponding CPP

 Downloadable Products purchased 6 hours before CDT within the LCPP, without any dispute / refund / replacement claims by the Buyer

Note:  An order from the Buyer may contain

- only Products
- only Services
- only Downlaodable Products or
- all or combination of the above

 

Formula for calculating CMP for LCPP:

 

Cummulative Monthly Payment, CMP = TVO + VSFDO - R - CDB - VDO - CB - SIC - TF -ST 

SIC = Seller Incurred Charges. Charges for which Seller is responsible, including but not limited to - 

Charges incurred by Wayfarerr,

due to non-shipping, wrong-shipping, damaged-shipping of the products by the Seller
due to CB arising out of Seller not adhereing to guidelines
due to Seller faulted disputes
due to non-rendering, partial-rendering, misrepresenting of services by the Seller
due to Seller's intent to defraud
due to order cancellation for Seller reasons
from payment gateways / banks due to Seller's fault
for legal proceedings due to Seller fault
due to Violations, etc. 

TF = Trading Fee. Fee payable by Seller to Wayfarerr for using the ecommerce platform and other allied services for execution of Buyer's orders @ fixed percentage of the order value
TF = % of (TVO - R due to non-Seller reasons - CDB - CB due to non-Seller reasons). X = 15 for General Sellers, unless a different rate is specified in contracts with respective Sellers. 20% Discount on X for Students

ST = Service Tax  @ 12.36% (Subject to change)

 Legend: + = Add, - = Subtract

Refer Cancellation & RefundReplacement PolicyDisputes Via Charge-backsDispute & Resolution