Understanding Finance and Payment

Account opening fees

Account opening fee (if seller is not on any Fairprice platforms): $108 (incl. GST)

Payment Terms/Cycles

Payment will be automatically processed as follows:

2. • Cycle 1

     • • Sales Date : 1st to 15th of Month

       • Sales Breakdown Report : 18th of Month* 

       • Remittance Advice : After Sales Breakdown, before Payment (sent by (finadmin@fairprice.com.sg)

       • Payment : 3rd (+/- 3 days) of the Following Month**

1. • Cycle 2

     • • Sales Date : 16th to end of Month

       • Sales Breakdown Report : 3rd of following Month* 

       • Remittance Advice : After Sales Breakdown, before Payment (sent by (finadmin@fairprice.com.sg)

       • Payment : 18th (+/- 3 days) of the Following Month** 

Please note that Sales Breakdown is based on customer delivery date which is 1-2 days after the pick date. Those items will reflect in the following billing cycle.

For e.g. Sales from 13th - 15th of the month may reflect in Cycle 2. Similarly, sales from 29th - 31st of the month may reflect in Cycle 1 of the following month.

* If there is any discrepancy, please submit the dispute report within 5 business days to the helpdesk with the supporting documents. (Please read Chapter 5: Raising Financial Disputes)
(Tallied consolidated daily picklist, returns, and sales breakdown, and List of SKUs & Quantity which are unaccounted for — both shortage and excess)

**Payment date may vary for different banks, and is done on a working day