What are Locked Funds? - Powered by ResellerOrder (US) Inc.

06 Sep 2010

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	What are Locked Funds?

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The concept of Locked funds is really simple. Every Order that is processed deducts funds from your Account. However, some Orders (like Transfer of Domain Name from other Registrar to us) typically take some time to get processed. The process of executing an Order consists of several steps. There is a chance that the steps may fail and the Order does not get processed. Therefore, we deduct funds from your account only at the last step after the Processing is complete, and the Order has been successfully executed.

However, in order to prevent the possibility of your Partner account not having funds at that time, when the Order is processed successfully, we lock the amount of funds required for a particular Order, while it is processing. As soon as the Order Processing steps are complete the Locked funds are either deducted from your Partner account or the lock is removed and the funds are credited back to your Partner account depending on whether the Execution of the particular Requested Action was successful or not.

There are also times when the process of executing a particular Action of an Order takes several days. Some Requests may take 5-10 days to get processed. We would in this case lock the funds required for a successful completion of the Request at the beginning of the Request, as soon as it is executed. Once the Order is executed Successfully, we would deduct these funds from your Partner account. If the Order fails, we would credit the Locked funds back to your Partner account.

For instance, if there is an Order executing in your Partner account which is likely to take 5-10 days, and your Partner purchase price for the Order is USD 10, we would then lock USD 10 out of your Partner available balance and begin processing this Order. If the Order is processed successfully we would deduct this USD 10 from your Partner balance. If the Order fails we would simply remove the lock on the USD 10.

As a Partner you can also check out the Locked Funds for your account, from My Billing -> List Locked Funds.

Please note that the concept of Locked Funds would ALWAYS be applicable for your account and your Sub-Partners. In case of Customers, their funds would be locked only in case of Bulk Orders, i.e. Bulk Registration, Bulk Renewal (through Renewal Management) and Bulk Transfer.

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17 Dec 2008 3:53 PM