Valet Seller will initiate transfers for payments to Merchant relating to completed sales and shipments of Products in respect of which Valet Seller has been paid by the applicable buyers and/or third-party distribution partners once per calendar month, before the 15th day of each calendar month for sales completed from the 1st through the last day of such calendar month. If the 15th of an applicable calendar month falls on a non-business day or Valet Seller observed holiday, any outstanding transfers may be initiated on the next business day. Please note that once the transfer is initiated it may take 3-5 days for the funds to become available to the Merchant.
Important to note:
- Valet Seller reserves the right to hold or delay funds based on reasonable information available if Valet Seller believes that a transaction may result in a return, dispute, chargeback, or other claims. Such determination shall be made at Valet Seller’s sole discretion, however, any hold or delay of funds will not last longer than 120 days before a resolution will be given; provided, however, that Valet Seller may indefinitely hold funds pending the final resolution of any legal action that could reasonably be expected to result in liability to Valet Seller. Valet Seller will notify Merchant via email if a hold occurs. Valet Seller shall not be liable to Merchant for any acts or omissions in accordance with the foregoing.
- Merchant must provide complete and accurate bank account information, and will update such information so that it remains current and accurate at all times during the term of the Agreement.
- Funds that cannot be deposited into Merchant’s bank account due to incorrect bank information will be held by Valet Seller until Merchant provides updated and accurate information.