Everything you need to know about COD remittance!
What is COD remittance?
When your customers order products on COD, they agree to pay the cash to the delivery guy when they receive the order. The courier guy takes cash from the customer, deposits it to the company and the company then remits the payment to you. Most courier companies have remittance cycle of 15 days which means they will sum up all the payments received in 15 days and remit it to you. Now when you are using Shiprocket, all your COD remittance by courier company comes to us and we make the final transaction.
When does the client gets the remittance for delivered order?
As you know there are 2 remittance cycle, In the first week of the month,( i.e between 3rd-6th) and 3rd week of the month(i.e between 15th-18th)
(i) For remittance in the first week, the delivery has to be made between the following dates:
|before 15th of previous month||before 10th of previous month||before 5th of previous month||before 1st of previous month||before 10th of previous month|
(ii) For remittance in the 3rd week, the delivery has to be made between the following dates:
|before 30th of previous month||before 25th of previous month||before 20th of previous month||No remittance in 3rd week||before 25th of previous month|
As First Flight courier follows 30 days COD remittance cycle, payments from First Flight will be made only in the first week cycle.
What if don’t get the remittance even after both remittance cycle?
If you do not get the remittance for your COD orders, please share details for us to track down the payments.
*Please note: The remittance will only include payments which has been received from the courier company in the remittance cycle before 3rd and 15th of every month.