TERMS OF PAYMENT
These Terms of Payment must be read together with the Terms and Conditions of Korporo Ltd (‘our’, ‘us’, ‘we’) The Terms and Conditions apply to any agreement between Korporo and the Client generally, including for the avoidance of doubt, the jurisdiction and governing law clause.
PAYMENT COLLECTIONS AND FEES
Fees payable under these terms and payments shall be invoiced monthly/annually, as applicable, or as otherwise agreed upon between the parties. Additionally, an annual administration fee may be charged to the account(s) in the future, subject to the terms outlined herein.
The minimum amount required to be maintained in the account(s) to cover administration fees shall be determined based on the applicable fees schedule. Such fees shall become enforceable when the account balance falls below a minimum threshold, which shall be a minimum of two months’ worth of monthly fees, as specified in the fee schedule.
It is understood and agreed that failure to maintain the required minimum balance in the account(s) may result in the imposition of administration fees, as outlined herein.
All credit and debit card payments for Korporo products and services are collected by Korporo Ltd.
Fees shall be payable as per invoice(s) issued by Korporo to the Client. Should the Client fails to settle any invoice within a period as specified in the invoice, we reserve the right not to provide any service and/or to discontinue the provision of services, and shall not be responsible for any costs, fees, duties or taxes owed by the Client to any agent and/or government authority in any jurisdiction, any fines or fees incurred by the Client as a result of such withdrawal of services, nor for any consequential loss or claim made against the Client by any third party arising due to the non-payment. Should the Client maintains credit balance with Korporo and fails to settle any invoice within the specified deadline, we shall have the right to withdraw the respective due amount from such credit balance without the Client’s prior consent.
Fees for services and products offered by Korporo are published from time to time on the Korporo’s website, or may be notified to, or agreed with the Clients through direct communication. Korporo reserves the right to, if, in our reasonable opinion, the economic conditions so necessitate, increase the fees without obligation to inform or seek prior approval from the Client.
The total purchase fees, including sales tax, if any, will be displayed in the Client’s shopping cart prior to the payment for the order.
Korporo’s fees for providing the services will be based on the fee schedule in force at the time when the work is being performed. Korporo reserve the right to, periodically, update the fees on Korporo’s website and to add to, amend, or withdraw the products and services that are offered, without prior notice. Korporo shall not be liable to anyone for withdrawing or amending any of the products and services we sell, or for refusing or failing to process an order.
Korporo will not pay any interest on any money held on behalf of the Client or the Entity.
APPENDIX 1 – FEE SCHEDULE
This Appendix delineates the fee schedule associated with services provided by Korporo Ltd (“Korporo”). These fees are applicable to various transactions and services offered by Korporo, as detailed below:
1. White Label Fee – Service Fee:
Fee: 5% on sale/purchase of any item in the system.
2. Minimum Account Fee:
Fee: 50 euros per month for account per month in the future for white label service.
Payment Terms: Two months’ worth of monthly fees must be maintained in the account(s) as a minimum balance to cover administration fees.
3. Agent Fee:
Initial Setup Fee: 500 euros (One-time payment for the first six months).
Referral Fee – Affiliate Fee: 10% on sales.