Payout Policy

1. Introduction

This Payout Policy outlines the terms and conditions governing seller payments on Cerqle. By using Cerqle's platform, sellers agree to adhere to this policy concerning the processing, timing, and eligibility requirements for payouts.

2. Payout Structure

• Payment Processing: Customer payments are initially processed via Cerqle's payment gateway, Yoco, and immediately transferred into Cerqle's Business Bank Account.
• Payout Destination: After successful delivery confirmation, funds are released to the seller's registered business bank account.
• Payout Currency: All payouts are made in South African Rand (ZAR).

3. Payout Schedule

• Cerqle initiates payouts within 1 to 2 business days following successful order delivery confirmation.
• Funds typically reflect in the seller's bank account within 1 to 3 business days, depending on the seller's bank processing timelines.

4. Payout Eligibility

• Maintain a verified Cerqle seller account with current and accurate banking details.
• Successfully fulfill and deliver orders, with confirmation of delivery.
• Remain in good standing without unresolved disputes or pending chargebacks.

5. Deductions & Fees

• Transaction Fees: Cerqle charges a 10% transaction fee per item sold by the seller. Sellers will receive advance notice of any changes to fees.
• Refunds & Chargebacks: Any refunds or chargebacks will be deducted from the seller's future payouts.
• Service Fees: Optional services or express payout requests may incur additional charges.

6. Dispute Resolution

• Sellers must report any payout discrepancies to Cerqle Support within 7 days of payout issuance.
• Cerqle reserves the right to temporarily withhold payouts in cases involving suspected fraud, disputes, chargebacks, or violations of Cerqle policies.

7. Policy Updates

Cerqle may periodically update this payout policy. Sellers will be notified of any changes in advance, allowing sufficient time to review and adapt to new terms.