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 get the remittance for the delivered order?
As you know the COD remittance is carried out 3 times a week – Monday, Wednesday, and Friday. The remittance is carried out after we receive the amount from the courier company i.e. after 7-10 days of order delivery or earlier.
If you sign up for the Early COD plan by Shiprocket, you can also get your remittance within 2 days of order delivery by paying a nominal transaction fee. This helps you maintain cash flow and maintain money better.
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.