By "Making a List", you establish the lowest price at which you are willing to sell your product. Potential buyers can then accept your listing and proceed with a Buy Now action.

The "Sell Now" option offers a faster sale process, allowing you to sell your product immediately to the highest offer available on the platform for that specific product and size. There's no need to wait for a buyer to accept your listing.

When you become a seller on Novelship, it's important to have a clear understanding of the various fees associated with your transactions. We've outlined the three main fees below to help you navigate this process seamlessly:

The three main fees to take note of for selling on Novelship are:

1. Selling Fee: This fee is a flat 9% of the product's price. It applies to every sale you make on our platform. This fee ensures the continued operation and growth of our marketplace.
2. Flat Commission Fee: The calculation of this fee depends on your location. Different regions may have varying commission rates. This fee helps us provide tailored support and services to sellers worldwide.
3. Shipping Fee (Applicable to Singapore and Malaysia Sellers): If you're a seller based in Singapore or Malaysia and choose to have Novelship arrange the shipping for your item, a shipping fee will be applied. This fee is determined by the volumetric weight of the item.

*The seller fee percentage is rounded up to the nearest 10 cents. Before you confirm your listing, you will receive a detailed breakdown of all fees associated with your transaction, ensuring complete transparency. Fees are deducted when you make a sale on Novelship from your total payout.

A seller can request for payouts on Novelship as soon as your item has been successfully authenticated using your NS Pay Balance. This gives you the flexibility to control when you receive your sale payouts in your registered bank account or use them for purchasing products.

The payout bank should operate in the country from which the shipment is sent. If the payout bank account country doesn't match the country of shipment, the payout cannot be processed.

Information Needed:

1. The seller should make sure that the name on the beneficiary bank account matches the name on your Novelship payout details. If the names do not match, we will not be able to process your payout.
2. The seller should choose the correct Account Type: Savings or Checking.
3. The seller should input the correct payout bank name and its respective branch code. When entering the Bank Name, please ensure that it is spelled out accurately. We are not responsible for payout failures due to inaccurate information.
4. The seller must fill in the correct Bank Account Number. Please make sure to key in the correct account number without space and dashes. Do not enter your payment card number as the Bank Account Number, as the payout will bounce.
5. For sellers from Japan, you need to input your Bank Name and its respective 3-digit Branch Code.
6. For sellers from Australia, you need to input your BSB code following this format (NNN-NNN) (e.g. 082-902).

Update Payout Information:

1. Login to your Novelship account
2. Go to My Account on the upper right corner of your screen
3. On your profile, look for Settings on the left panel
4. Scroll down and look for Selling Info and click edit

Other Information:

• If there's no available payout balance for request, you won't be able to request a payout.
• If your payout bounced due to inaccurate information, update your payout details and make another request for payout. A re-processing fee will be deducted and your payout will be processed on the next cycle.
• If a payout has been sent to the wrong account due to incorrect information, please contact your bank for assistance. Novelship is not liable for such cases, and once a payout is completed to the wrong account, it cannot be reversed.

Options:

• Full Payout: This option allows you to withdraw the entire amount displayed on your dashboard.
• Partial Payout: With this option, you can request a portion of the total payout amount to be withdrawn. There are minimum amounts required for different currencies:

  SG: $50 TW: $1000 MY: $160 JP: $5000

  AU: $50 NZ: $50 ID: $540000 EUR & GM: $35

  HK: $280 US: $36 CNY: $245

Payout Methods:

• Regular Payout
• Crypto Payout

Other Information:

• To request your payout, navigate to the Payout Request page. Enter the amount you wish to request and select your preferred payout method. Click the "Request Payout" button to initiate the payout process.
• The payout amount reflected on your dashboard can also be used to make purchases on the platform. For more information, learn about NS Pay Balance.
• There will be a 3% fee applied to all payout methods.
• The application period is a 7-day duration that begins on Monday and concludes on Sunday (deadline) each week, following Singapore Local Time.
• Payout transfers occur every Wednesday, typically during the second week after the application period's deadline. If Wednesday falls on a public holiday, payouts will be initiated on the next working day. For example, if your item passes authentication on Thursday, September 14, 2023, and you request a payout on the same day, your payout will be transferred by Wednesday, September 20, 2023.
• After the transfer, you can anticipate your payout to appear in your bank account within 3 to 5 days from the payout processing date. However, keep in mind that the Estimated Payout Arrival Date can vary based on your bank's processing schedule and your selling country.

The Sell from Storage feature on Novelship allows you to sell products that you have previously stored in Novelship or via Consignment.

Consignment selling is only available for sellers located in Singapore, Hong Kong, Malaysia, and Taiwan.

The advantages of using Sell from Storage include:

• Increase Payout: No shipping fees are deducted from the sale value, leading to a higher payout for you.
• Avoid Cancellation: Stored products have already been pre-verified, reducing the chance of failing quality checks or authentication and potential cancellations.
• Zero Hassle: There is no need to ship out the product when selling from storage, making the process hassle-free.
• Faster Payout: Sales completed through Sell from Storage are processed quicker, allowing for faster payouts.

To consign products, follow these steps:

1. Choose a product from our list and select the size.
2. Click on "CONSIGNMENT."
3. Review the details and read the terms and conditions to establish accurate expectations.
4. Click on "CONFIRM SELL."
5. A secondary confirmation will appear; click "CONFIRM."
6. Upon confirmation, you will be directed to the below confirmation page.
7. Click the "START SHIPPING" button to send your products, adhering to our Seller Shipping guide.

To sell from storage, follow these steps:

1. Buy Now or Make an Offer at novelship.com
2. During the Offer or Buy Now process, select to place your purchase in Storage.
3. Wait for your purchased product to be successfully stored.
4. Go to My Account > Buying > CONFIRMED PURCHASES tab and click on the "SELL" button located on the right side of your order."
5. Click on "Sell".
6. Choose either Make a List or Sell Now.
7. Once your sale is complete, you can request a payout.

You can view your Sell from Storage transaction in the following sections:

1. "CONFIRMED SALES" section: The status will initially show as "Pending your Shipment." Please note that this status is temporary, and it will be updated once we have processed the shipping to the buyer.
2. "PAST SALES" section: Once your sale is completed, it will appear here. At this point, your payout will be automatically credited to your NS Pay Balance.

Other Information:

• A fee will apply and will be deducted from the NS Pay Balance. NS Pay Balance could become negative as a result but will be offset against your next sales. In the event if you wish to withdraw a stored item, you are required to pay the shipping fee plus all outstanding storage fees.
• To keep the items in good condition, our storage place is specially kept in a cool temperature with low humidity. Novelship incurs storage cost whenever a user places an item into storage.
• To retrieve your consigned products, you can request shipping from storage for a single item.

Sellers can cancel a transaction by using the shipment decision form found on the sale details page. For cancellations, there will be a penalty imposed as stated on the SELLER PENALTY section below. It's important to consider that canceling a sale could lead to a breach of trust; buyers expect their purchase to be fulfilled. Repeated cancellations may result in the suspension of the seller's account.

There are three situations that may lead to automated cancellation of a sale:

• Seller Flake: If the seller fails to ship out the sold product within the designated time frame, regardless of reason will lead to the cancellation of the sale.
• QC Fail: If the product sent by the seller does not pass the quality check, and the buyer rejects product condition, the sale will be canceled.
• LC Fail: If the product fails the authentication check, the sale will be canceled.

Other Information:

• Shipping products to a different country than your registered selling country leads to sale cancellation and a penalty fee will be applied.
• If your product doesn't meet our standards, please offer a generous and reasonable discount. The buyer will have up to 24 hours to accept or reject your proposal. Accepted transactions will proceed as usual; rejected transactions will be considered as QC Fail. Sellers are able to opt for sending in an Exchange product within 48 hours (failure for item to arrive within this time frame will result in automated failure).
• Sellers are responsible for shipping expenses for replacement products. The initial shipping fee remains as it is from your total payout.
• Should the second product also fail checks, you will incur double penalty. Please ensure the replacement product meets quality standards.
• If the buyer rejects the defective product, you're charged a minimum penalty of 3% of the product's sale value and a return fee, billed to your payment card or deducted from your NS Pay Balance.
• Unsuccessful authentication leads to sale cancellation and a penalty. To retrieve your item, pay the applicable return shipping fee based on your sales address. Once the penalty and return fee are billed, the product will be arranged for return via courier. Note that any content (e.g. purchase receipts) in the shipping box that is not required for authentication may not be returned.

The penalty fees will be calculated based on the flat amount as stated in the table, plus an additional 3% of the sale value, with a cap at 100 SGD or equivalent value. These charges will be billed either to your payment card or deducted from your NS Pay Balance.

** Novelship reserves the right to suspend or ban any account failing to adhere to our terms and conditions.

These fees will be billed from your payment card or deducted from your NS Pay Balance.

If you can't find a product currently listed on our platform, you can submit a product request, and we will make it available for you as soon as we can.

After submission, you will receive a confirmation notification, and our team will review your request within 3 to 5 working days to assess its alignment with our criteria and market demand.

If your request is approved and added to Novelship, you may also receive an email notification when it becomes available. In the event of rejection, you may be informed, and we appreciate your understanding when this happens.