Payment Remittance Policy

(Between Royal Xclusives and Listing Clients). 

This Payment Remittance Policy (“Policy”) outlines the terms and conditions governing the disbursement of funds collected by Royal Xclusives (“Platform”) on behalf of its listing clients (“Client”). By listing products or services on the Platform, the Client agrees to abide by the terms of this Policy.

1. Purpose

This Policy ensures a clear, transparent, and secure framework for handling payments from Buyers to Clients via the Platform. It defines the timelines, procedures, and responsibilities of both Royal Xclusives and the Client.

2. Payment Acceptance & Verification

1. Payment Collection: When a Buyer purchases a product or service, the payment is made directly to Royal Xclusives.
2. Verification: Royal Xclusives will verify the payment to ensure it has been received and cleared in the Royal Xclusives account.
3. Security Measures: Royal Xclusives may perform additional checks or request supporting documentation to confirm the legitimacy of transactions, thereby protecting both the Buyer and the Client from fraudulent activities.

3. Commission & Deductions

1. Commission Fee: Royal Xclusives retains a ten percent (10%) commission on each successful sale. This commission is deducted automatically from the gross payment amount prior to disbursement to the Client.
2. Transaction Fees: Any applicable transaction or banking fees (e.g., currency conversion, wire transfer fees) may be deducted from the Client’s share, depending on the chosen remittance method.

4. Settlement Timeline

1. 24-Hour Settlement Window: Once payment has been verified and cleared, Royal Xclusives will initiate the remittance process within twenty-four (24) hours.
2. Clearing Period: If a payment is made via a method requiring additional clearing time (e.g., international bank transfers), the remittance may be delayed until funds are confirmed as cleared.
3. Notification: Royal Xclusives will notify the Client once payment has been remitted, providing details of the transaction, commission, and any applicable fees.

5. Order Fulfilment

1. Fulfilment Authorization: Upon confirming that funds have been received and cleared by Royal Xclusives, the Client will be notified to proceed with order preparation and delivery.
2. No Dispatch Before Clearance: It is strictly expected that the Client will not ship or release any goods or services until they have been notified that funds have been secured by Royal Xclusives.
3. Client Responsibility: The Client bears full responsibility for any early dispatch of goods or provision of services prior to receiving official payment clearance notification from Royal Xclusives.

6. Disputed Transactions & Chargebacks

1. Buyer Disputes: In the event of a dispute or chargeback, Royal Xclusives reserves the right to hold or reverse funds associated with the disputed transaction until the dispute is resolved, in accordance with the Dispute Resolution Procedure.
2. Client Cooperation: The Client agrees to cooperate fully in providing any required documentation or evidence to assist in resolving payment disputes.

7. Currency & Exchange Rates

1. Currency Selection: The default currency for listings and transactions may be set by Royal Xclusives; however, the Client may choose alternative currencies subject to Platform capabilities.
2. Exchange Rate Fluctuations: Royal Xclusives is not liable for any losses incurred due to exchange rate variations or bank charges.

8. Liability & Indemnification

1. Platform Role: Royal Xclusives acts solely as a facilitator of payments between the Buyer and the Client.
2. No Financial Advisory: Royal Xclusives is not a bank or financial institution and does not offer financial or investment advice.
3. Indemnity: The Client agrees to indemnify and hold Royal Xclusives harmless from any claims, liabilities, or damages arising from payment disputes, non-delivery of products, or other transaction-related issues, except where caused solely by Royal Xclusives’ gross negligence.

9. Amendments & Updates

Royal Xclusives reserves the right to modify or update this Policy at any time. Any changes will be posted on the Platform and communicated to Clients. Continued use of the Platform after such updates constitutes acceptance of the revised Policy.

10. Governing Law

This Policy shall be governed by and construed in accordance with the jurisdiction specified in the Terms and Conditions. Any disputes arising under or in connection with this Policy shall be resolved pursuant to the Dispute Resolution Procedure outlined therein.

11. Entire Agreement

This Policy, together with the Terms and Conditions and the Dispute Resolution Procedure, constitutes the entire agreement between Royal Xclusives and the Client regarding payment remittance and supersedes any prior agreements or understandings, whether written or oral.

By listing products or services on Royal Xclusives, the Client acknowledges that they have read, understood, and agree to be bound by this Payment Remittance Policy. This Policy ensures that all parties engage in secure and transparent transactions, reflecting the high standards and exclusive nature of the Royal Xclusives platform.