PAYMENT & SETTLEMENT TERMS

(DOCBOON Platform)

1. APPLICABILITY

These Payment & Settlement Terms govern all financial transactions conducted through the DOCBOON Platform.

All transactions are treated as prepaid commercial procurement transactions.

2. PLATFORM ROLE (FINANCIAL INTERMEDIARY)

DOCBOON acts as:

• A technology platform
• A payment collection and settlement facilitator

DOCBOON does not act as:

• Seller of record
• Merchant of goods

All payments collected are on behalf of sellers.

3. PREPAID MODEL

• All orders must be paid in full at the time of placing the order
• No credit or post-delivery payment facility is provided

Orders are confirmed only upon successful payment.

4. PAYMENT COLLECTION

• Payments are collected via authorized third-party payment gateways
• Payment confirmation is subject to successful authorization

DOCBOON shall not be liable for:

• Payment failures
• Banking errors
• Gateway downtime

5. FUND HOLDING MECHANISM

All funds received from buyers shall be held by DOCBOON until:

• Successful delivery of goods, AND
• Expiry of the return/claim window (48 hours from delivery or as specified for product to product)

This holding period is mandatory and non-negotiable.

6. PAYOUT ELIGIBILITY

A seller becomes eligible for payout only when:

• Delivery is confirmed, AND
• No valid claim is raised within the claim window

7. PAYOUT CALCULATION

Seller payout shall be calculated as: Order Value – Platform Commission – Logistics Charges – Applicable Taxes – Adjustments (if any)

8. PAYOUT TIMELINE

• Payout shall be processed within 2–5 working days after eligibility
• Actual credit depends on banking systems

9. ADJUSTMENT & RECOVERY RIGHTS (CRITICAL)

DOCBOON reserves the absolute right to:

• Withhold payouts
• Adjust future settlements
• Recover amounts from sellers

in cases including but not limited to:

• Approved returns or refunds
•  Customer claims
•  Pricing errors
•  Fraudulent transactions
•  Regulatory issues

10. NEGATIVE BALANCE & RECOVERY

If adjustments exceed payable amounts:

• Seller account may show a negative balance
• Seller agrees to:
  • Pay the outstanding amount
  • Allow adjustment against future payouts

DOCBOON reserves the right to initiate recovery proceedings if required.

11. REFUND HANDLING

Refunds to buyers shall:

• Be initiated by DOCBOON
• Be adjusted against seller payouts

Seller agrees that:

• Refunds may be processed without prior seller consent in valid cases
• Seller shall honor all approved refunds

12. DISPUTE & HOLD MECHANISM

DOCBOON may:

• Place transactions under review
• Delay payouts
• Freeze settlements

until resolution of:

• Buyer complaints
• Regulatory issues
• Fraud investigations

13. FRAUD & RISK CONTROL

DOCBOON reserves the right to:

• Block suspicious transactions
• Reverse payments
• Suspend accounts
• Withhold funds

in case of suspected fraud or misuse.

14. TAXES

• Applicable taxes (including GST) shall be deducted or applied as per law
• Seller is responsible for:
  • Tax compliance
  • Invoicing
  • Filings

DOCBOON shall not be responsible for seller tax obligations.

15. CHARGES & COMMISSION

DOCBOON may charge:

• Platform commission
• Logistics charges
• Processing fees

Such charges may be revised from time to time.

16. NO INTEREST

No interest shall be payable on:

•  Funds held during settlement
• Delayed payouts (within reasonable processing timelines)

17. LIMITATION OF LIABILITY

DOCBOON shall not be liable for:

• Payment delays caused by banks or gateways
• Financial losses arising from disputes
• Indirect or consequential damages

18. ELECTRONIC RECORDS

All financial records maintained by DOCBOON, including:

• Transaction logs
• Settlement records
• Payment confirmations

shall be treated as valid electronic evidence.

19. POLICY INTEGRATION

These Terms shall be read together with:

• Terms of Use & Disclaimer
•  Seller Agreement
•  Return, Replacement & Refund Policy
•  Cancellation Policy
•  Shipping & Delivery Policy

Stricter provisions shall prevail.

20. GOVERNING LAW & JURISDICTION

These Terms shall be governed by laws of India.

Exclusive jurisdiction: Courts at Ambala, Haryana.

21. ACKNOWLEDGMENT

By using the Platform, the Seller and Buyer:

• Accept these Payment & Settlement Terms
• Agree to fund holding and adjustment mechanisms
• Acknowledge DOCBOON’s rights to control settlement and payouts