Settlement

On receipt of the Payments in the Nodal Account, we will endeavour to instruct the nodal bank to transmit the Payments payable to the Seller, after deducting our Fees, from the Nodal Account to the Seller’s designated bank account, within 2-3 Business Days (or such other period as may be prescribed by the RBI from time to time) from Completion of Transaction. Subject to any other Clause of this Agreement and Completion of Transaction, the Seller acknowledges that we will settle the Payments only upon actual receipt of Payments in the Nodal Account and upon reconciliation of the Payments by the Acquiring Banks, our payment gateway and the nodal bank. The Seller will bear and be responsible and liable for the payment of all relevant taxes in relation to the Payments made under this Agreement.

Sellers receive the amount (minus our charges) in their bank account within T3 days where T is defined as the date of intimation of the completion of the transaction.

Once a payment is authenticated by Payment Service Providers, money is moved to GoEasyPOS Nodal Bank Account and the first settlement will be initiated only after all required documents (in hard copies) are received by GoEasyPOS.

All risks associated with the Delivery will be solely that of the Seller and not GoEasyPOS. Also, all disputes regarding quality, merchantability, non-Delivery, delay in Delivery or otherwise will be directly between the Seller and the Buyer without making GoEasyPOS and/or the Payment System Providers, a party to such disputes.