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Droom follows a weekly payment cycle for first fortnight and bi-weekly in second fortnight that means a seller’s orders that are completed on first fortnight get settled on weekly basis and orders that are settled in second fortnight will be settled on bi-weekly basis. Droom follows a Wednesday cycle in first fortnight and Wednesday and Friday cycle in second fortnight i.e. Droom releases payment instructions to the bank on each Wednesday and Friday (second fortnight) for orders completed on or before Monday of that week. In the Wednesday payment cycle, seller will get paid for the items sold a week prior which have been marked as complete. Please note that seller will get paid only for those orders that have been marked as complete.
Payments are made only for those items that have been successful marked as complete without any disputes. Orders that have not been marked as complete or have been cancelled or disputed before the current payment cycles are not paid during the current Wednesday payment cycle.
The adjustments caused by returned items, cancelled orders or wrong orders etc will be done twice a month and your weekly payments will be adjusted downward for those adjustments.
If an order gets cancelled due to non-availability on sellers end or any fault seller, then Droom charges cancellation fee, which equals Selling service fee (depending upon the category) + GST. For Example, if Droom receive commitment fee (Token Amount) from a buyer for a listing, and the seller informs to Droom or the buyer that the item is no longer available, it will result into deduction of selling services fee + GST as cancellation fee from seller’s payout.
In case a buyer has paid commitment fee (Token Amount) to Droom and the order does not complete due to any fault of the buyer, Droom may not do the full refund of the commitment fee (Token Amount) to the buyer and will keep Rs. 500 for a motorcycle (plus GST) and Rs. 1,000 for a car (plus GST) as its administrative and service cost recovery.
Droom makes payments via NEFT/RTGS. Droom requires following banking information to settle the outstanding payment to a seller -- Seller Name on bank account, bank account number, name of the bank, and IFSC Code. Seller must have verified KYC and Bank details in order to receive payments from Droom.