Vendor Settlement and Wallet Policy

This policy explains how Vicsmall records Vendor earnings, makes Settlements and manages pending, reserved or negative Vendor Wallet balances.

Capitalised terms not defined in this policy have the meanings given in the Vicsmall Vendor Terms and Agreement.

The Vendor Wallet may show pending, accepted, processing, dispatched, delivered, reserved, available, withdrawn, refunded, reversed or negative balances. These are electronic ledger statuses and do not create a bank or deposit account.

An Order that is rejected, missed, reassigned or cancelled before a valid Vendor receivable arises may be removed from the Vendor Wallet without payment to the original Vendor.

Vicsmall will ordinarily make net proceeds available within the period shown in the Vendor Dashboard, typically two to five Business Days after Confirmed Delivery. Returns, disputes, reserves, fraud checks, part payments and payment-provider instructions may extend this period.

The life of an Order affects settlement: notification and acceptance create no immediate right to withdraw funds; dispatch moves the Order through processing; verified delivery permits settlement review; returns, chargebacks or disputes may hold or reverse funds.

• Settlement will be made only to a bank account verified and accepted by Vicsmall.
• The Vendor is responsible for keeping bank information accurate.
• Vicsmall may request further verification where the account name does not correspond with the verified Vendor or business.
• A bank or transfer delay outside Vicsmall's control may extend the time funds reach the account.

Vicsmall may place all or part of a Settlement on hold where there is an active Buyer dispute, chargeback, suspected fraud, delivery issue, unusual activity, legal or regulatory action, high return or cancellation rate, safety concern, expected Refund, verification requirement or money owed to Vicsmall.

Only affected or reasonably related funds should ordinarily be held, although a broader hold may be necessary where the risk affects the Vendor Account generally.

A reasonable rolling reserve may be applied to a Vendor presenting increased financial, operational or chargeback risk. Vicsmall will ordinarily state the reserve amount or percentage, reason, review period and release conditions.

Vicsmall may deduct amounts owed by the Vendor from pending Settlements, available wallet balances, future sales, refunds due to the Vendor or other amounts payable to the Vendor. Where deductions exceed available funds, a negative balance may be created and must be paid within the notice period. Withdrawals, listings or account access may be restricted until resolved.

The Vendor must provide requested proof of dispatch, delivery, Buyer communication, Product details, invoices, serial numbers or other evidence within the stated time. Where a chargeback results from Vendor breach, non-delivery, counterfeit Products, misleading listings, unauthorised substitution, fraud or failure to provide evidence, Vicsmall may recover the transaction amount, provider fees and reasonable related costs.

Settlement statements may show the Order number, Product price, Commission Base, category default, applicable Product or Vendor override, Effective Commission Rate, Commission amount, taxes, processing charges, logistics costs, refunds, reserves and net amount.

A Vendor must report a suspected calculation error promptly and provide the relevant Order details. Vicsmall may correct proven errors and issue a revised statement.

Closing or terminating a Vendor Account does not automatically release all funds. Amounts may remain reserved until outstanding Orders, returns, chargebacks, investigations, debts and other obligations are resolved. Lawful deductions may be made before the final Settlement.