Vendor Payment Release Policy
Last Updated: 01/10/2023
At Bhooka Bolavo India Private Limited ("Bhooka"), we value our vendor partnerships and aim to ensure transparent and timely payment processes. This Vendor Payment Release Policy outlines the terms and conditions regarding the release of payments to our vendors.
1. Payment Release Timing:
Payment to vendors will be released within 7 working days of the confirmation of order delivery. This timeframe allows us to verify and validate the successful fulfillment of customer orders.
2. Confirmation of Order Delivery:
a. Vendor Confirmation: Vendors are required to promptly confirm the delivery of each order through the Bhooka vendor portal or the designated communication channel.
b. Bhooka Confirmation: Bhooka's order fulfillment team will verify the order delivery and confirm the completion of the transaction.
3. Payment Methods:
Vendors will receive payments through the method specified in their vendor agreement, which may include bank transfers, digital wallets, or other agreed-upon payment methods.
4. Deduction for Payment Gateway Charges:
A 2% deduction will be made for payment gateway charges from the total transaction amount before the release of the payment to vendors.
5. Delayed Payment:
In the event of any delays in payment release beyond the stipulated 7 working days, vendors are encouraged to contact our vendor support team at [vendor.support@bhookabolavo.in] to address and resolve the issue promptly.
6. Payment Disputes:
Any disputes related to payment, including discrepancies in the amount or non-receipt of payment, should be reported to the vendor support team within 10 working days of the expected payment date. Bhooka will investigate and resolve such disputes in a timely manner.
7. Taxes and Deductions:
Vendors are responsible for ensuring that all necessary tax information is provided. Payments will be subject to applicable taxes and any agreed-upon deductions as per the vendor agreement.
8. Changes to Payment Release Policy:
Bhooka reserves the right to update or modify this Payment Release Policy at any time. Vendors will be notified of any changes through the vendor portal or other designated communication channels.
9. Contact Information:
For any inquiries or concerns related to vendor payments, please contact our vendor support team at [vendor.support@bhookabolavo.in].
By entering into a vendor agreement with Bhooka, you agree to and accept the terms outlined in this Vendor Payment Release Policy.