Payment Policy

Last Revised November 2014

This Payment Policy forms part of the Member Agreement. Capitalized terms not defined within in this policy will have the meanings as set forth in the Member Agreement.

You hereby authorize FlirtBids to collect payment from Members on your behalf for any and all transactions that are conducted through the Site. In-Charge will pay You the earnings You earn on the Site, less any commissions and fees set forth below, any tax withholdings required by law, and any refunds or discounts payable by FlirtBids.

The payment responsibilities of FlirtBids for Service provided are limited and restricted by the following:

  • The Member who initiates a Transaction with a Seller through the Site is solely responsible for payment of all and any fees for the Transaction
  • FlirtBids will not be held responsible or obligated to pay any fees for which Flirbids hasn’t been fully paid by the Member or Member’s bank or credit card issuer.

Fees

The commissions / fees described below may change at any time. All Members will receive prior notice of any such changes but it is the responsibility of the Members to continually check for policy changes. The following fees only relate to each individual auction’s final sale price and do not effect total net earnings from all auctions on the site:

20% – first 1000 tokens

15% – next 1000 tokens

10% – everything left over

For example, if you complete an auction with a final selling price of 2200, only 1000 of that amount will be subject to the 20% bracket of commissions ($20 in this example). The next portion would be subject to the 15% bracket of commissions ($15 in this example). Then the final amount made over 2000 tokens would be in the 10% commission bracket ($2 in this example). This example deducts only 16.8% from the completion of a 2200 token auction. Therefore, the higher your auctions go, the less commission is deducted.

Tips

All sellers will earn 70% from all tips sent to them. The site will deduct this from your balance manually due to the fluctuations in tips received. Tips don’t effect your auction earnings.

Payouts and Remittances

  1. Earning periods will run from the first (1st) through to and including the fifteenth (15th) and from the sixteenth (16th) to the final day of that particular month.
  2. All earnings will be paid in U.S. Dollars unless specified otherwise. Payments will occur one earnings period after the completion of the current earnings period. Payments will occur on the 1st and 15th of each month. For example, Your earnings from October 1st through October 15th will be paid out on November 1st and Your earnings from October 16th through October 31st will be paid out on November 15th.
  3. If You are a U.S. resident and any payment due to You for any earnings period is less than twenty dollars ($20), after the deduction of payout fees, or if You are a non U.S. resident and any payment due to You for any earnings period is less than twenty dollars ($20), after the deduction of payout fees, FlirtBids will hold payments until such time the payment due to You is greater than or equal to Your minimum payout amount of twenty dollars ($20).
  4. If a Non-U.S. resident earns greater than five thousand dollars ($5,000) in any earnings period, then he / she will automatically be paid the earned five thousand dollars ($5,000) on the next payment minus the standard processing fee. In this case, payouts will occur via wire transfer. The rest of his / her earnings will be rolled over to the next payout. For example, if You earn $5,000 before the end of October, that earned $5,000 will be paid out to You on the standard payout date of November 15th, then any amount in excess of the $5,000 equal to or more than $100, after the deduction of payout fees, will be paid out on December 1st; if, after the deduction of payout fees, the amount in excess of the $5,000 is less than $100, then it will be held until such time the payment due to You is greater than or equal to $100. Both cases will result in the deduction of the processing fee.
  5. All members will receive payments in the form of ACH Direct Deposits unless they elect otherwise. For U.S. Residence, Direct Deposit payments will result in a fee of five dollars ($5) being deducted from your earnings per payout. International Wire Transfer will accrue a fee of forty-five dollars ($45) being deducted from Your earnings per payout if you elect an international wire transfer. Otherwise, all non-US residence will experience the same fee of five dollars ($5) or the cost of sending the transfer, whichever is higher, being deducted from your earnings per payout..
  6. You are solely responsible for covering all expenses relating to Your use and access of the Site, including all hardware, software and any costs You may incur. In addition You are also responsible for determining, collecting, reporting and paying any and all state and federal sales, income or other taxes. FlirtBids may withhold taxes from amounts issued to Store Owners if required by law.
  7. FlirtBids reserves the right to withhold payments if the appropriate identification documents, forms and account details have not been supplied and will release those payments when the above documents have been provided within a timely manner. Failure to provide these documents, forms and account details could result in loss of content or removal from the Site.
  8. In the result of Your user account being terminated for any reason, FlirtBids will payout out all earnings to You that are not in dispute which You have earned up until the time of termination.

 

 

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