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Offline Wholesale Payment Terms

Updated

For brands processing wholesale orders outside of The Folklore platform, specific payment terms, timelines, and conditions apply to ensure a smooth and efficient process.

Payment Timelines

  1. Invoice Issuance:
    Invoices for off-platform wholesale orders are sent to your registered email address 1-2 weeks after the purchase order is accepted by your brand.
  2. Payment Due Date:
    Payment is due 30 days from the invoice date, unless stated otherwise on the invoice.
  3. Late Payments:
    Invoices unpaid after 60 days from the original invoice date are subject to a 2% compounding interest fee per month for any outstanding balance.

Payment Methods

Brands may pay invoices via:

  • Stripe (preferred)
  • Bank Transfer
  • Credit/Debit Cards

Commission Payment

For off-platform wholesale orders placed by retailers, The Folklore charges a 5-20% commission depending on the subscription plan:

  • Essentials Plan: 20% commission

  • Plus Plan: 10% commission

  • Premium Plan: 5% commission

  • Premium Retail Partners:

    • Commission is charged for the first and any subsequent orders placed by Premium Retail Partners while your brand remains a subscribed member of The Folklore.
    • If a brand cancels their membership, commission will still be charged for the 12 months following the end of the subscription for any first or subsequent orders received from Premium Retail Partners who discovered or were introduced through The Folklore platform or services.
    • If the Premium Retail Partner leaves the platform, commission for off-platform orders will no longer be collected.

Payment Submission

  • Off-Platform Order Commission:
    Invoices are sent via email, containing a link to submit payment through the third-party payment processor, Stripe.
    Payment can be made using debit or credit cards, accepted globally, including:
    • American Express
    • China UnionPay (CUP)
    • Discover & Diners Club
    • eftpos Australia
    • Japan Credit Bureau (JCB)
    • Mastercard
    • Visa

Late Payment Policy

  • Unpaid Invoices:
    Off-platform order commission invoices unpaid after 60 days will incur a compounding 2% interest fee for every month the balance remains outstanding.
    • Brands are responsible for paying both the original invoice and any accumulated fees due to delinquency.

Contact Support

For any questions related to offline wholesale payment terms, please contact brands@thefolklore.com.

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