As a seller, when do I receive my payments?
When are we paid ?
ThingPark Market is in charge to process all payments from buyer to seller. Process is as follows:
- ThingPark receives order from the buyer
- ThingPark awaits payment from the buyer and releases order to seller upon receipt
- Seller ships merchandise / delivers service to the buyer and send confirmation to buyer
ThingPark Marketplace remit monthly in EUR, on day 30th. Settlement calculations are processed on day 26th which implies that Seller is paid End of Month + 30 days. As a concrete example, if purchase order is sent on day August 27th, settlement occurs September 26th, Payment is processed on September 30th.
However, note that we will hold any payments until you finalize completion of your financial profile. Please finalize your financial profile registration at the following link.
Who is collecting ?
ThingPark Marketplace is collecting payments on a specific Global Escrow account, on which ThingPark Marketplace will deduct 15% commission fees to process the sale. ThingPark may also deduct additional charges when applicable. Remainder will be frozen until Seller is paid. ThingPark Market cannot access these funds nor reuse it to finance its own activities.
How is ThingPark Market commission calculated?
ThingPark Marketplace commission is calculated on the overall Transaction price amount paid by every buyer. Transaction price is calculated as follows:
Transaction price = Selling price + Shipping price + VAT and Other taxes & Duties
What does ThingPark Market commission include ?
ThingPark Marketplace is operating many services to help sellers promote and sell their products & offers:
ThingPark Market enables seller’s catalog offerings to show on its marketplace with the best attributes & enhancements possible;
ThingPark Market promotes your product offerings with merchandising tools, generating traffic to your product pages to maximize sales conversion;
ThingPark Market processes payment through different Payment methods, supporting the financial cost associated with the different Payment methods;
ThingPark Market provides consultancy to best capture the market segment at an international scale.
VAT Tax, taxes & other duties support to help you define the correct level to pay. However, ThingPark Marketplace will not substitute your own responsibility to define the correct level for these taxes and other duties. ThingPark Market only provides tools help Sellers to enlarge their addressable buyer market internationally and remove Tax & duties calculations barrier.