No outstandings towards sellers, says Snapdeal

Responding to recent media reports in this regard, Snapdeal today clarified that no amounts are outstanding towards sellers.
The company said that payments to sellers are made 6-10 times per month and typically sellers receive their payments within 3-5 days of the sale of their goods and that there are no outstanding amounts in this regard.
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According to Snapdeal, any occasional seller disputes are handled through a robust grievance redressal mechanism, consistent with seller policies and contractual agreements. The concerned teams work closely with the sellers and in case of any concern flagged by the seller, due action is taken to resolve the same. Sellers are advised to contact their account managers for any unresolved issues.
In a few cases, it added that details are awaited from sellers in support of the claims made by them. “In these cases, sellers have so far failed to provide required justification for their claims despite multiple attempts by Snapdeal to facilitate these settlements. These are minor amounts, which will get paid basis information provided by sellers and in accordance with the contracts and seller policies.” said Sanjay Agarwal, Senior Vice President, Finance Operations, Snapdeal.
Agarwal further added, “Over the last many months, we have further reinforced the internal audit and control processes to detect fraudulent practices by the sellers and impose suitable penalties and deductions towards such exceptions. Legal action has been taken against nearly 35 sellers, including initiation of criminal proceedings where required.”
In recent weeks, Snapdeal has further expedited the payment cycles for sellers, making payments faster for the sellers, which is borne out by the positive feedback the company has received from the sellers.

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