1. In General. The purpose of this policy is to provide guidelines for the use of the Seller Referral Bonus Programme (“the Bonus”). MonsterPay currently offers a Seller Referral Bonus program to all account holders. By participating in the Bonus, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions.
2. Seller Referral Bonus.
2.1. Eligibility. The Bonus programme is open to all MonsterPay users. MonsterPay reserves the right to discontinue this program at any time within thirty days of notifying users. Should the program be discontinued, you will receive the full bonus for new Sellers you have referred under the following terms.
2.2. Persons Who May Be Referred. The referred Seller may only be an individual or Business with whom you have a pre-existing personal or business relationship (a "Seller"). Without limiting the generality of the foregoing, you must not obtain names for referral from i) group email addresses or ii) third party bulk mailing lists, customer lists or email lists. You may not submit yourself for this referral bonus. You will not be eligible for a bonus for referring a business that signs up for MonsterPay during a reduced fee promotional offer period.
2.3. Number of Referral Bonuses. There are no restrictions on the number of Referral Bonuses you may earn.
2.4. No Spamming. We strictly forbid the sending of unsolicited e-mail to numerous recipients ("spamming"). Any MonsterPay user who spam’s other Internet users for the referral bonuses will have his or her account immediately and permanently terminated. See our Anti-Spam Policy for additional information.
2.5. Bonus Requirements. In order to receive a referral Bonus you must first sign up for a MonsterPay account and become a verified user. For each Seller that you refer to MonsterPay who completes the new account bonus requirements below, we will credit a bonus, under the following guidelines, to your MonsterPay account. A Seller will only be deemed to have been referred for the purposes of these Terms and Conditions if they are not a MonsterPay user at the time of the Referral. For all referrals, you must have a MonsterPay account in good standing. All conditions must be met before the Bonus expires.
2.6. Bonus Amount. The Seller Referral Bonus is a revenue-sharing agreement in that bonus amounts will be derived from the Seller's Net Sales ("SNS"), defined as the Seller's Gross Sales (the sum of Website Payments and qualified Send Money transactions paid to the Seller's account), less any chargebacks, refunds, and reversals. "Website Payments" are payments made through MonsterPay's Seller Tools, including Buy Now and Donation buttons, Subscriptions & Recurring Payments, the MonsterPay Shopping Cart. "Qualified Send Money transactions" are payments made through the Send Money tab of the website. The bonus payment is based on the amount of SNS, as follows:
a. Bonus Currency. The bonus will be calculated in USD only. Transactions processed by the Seller will be converted to USD at the time they occur according to the latest conversion rate available to MonsterPay. MonsterPay will not be held liable any loss that may occur due to currency fluctuations. MonsterPay will convert the available referral Bonus amount to your primary currency no sooner that once every 30days.
b. Minimum Payout. When the Seller reaches $200.00 USD in SNS, and has become Verified, the initial $1.00 USD bonus will be made available to your MonsterPay account. MonsterPay will not payout amounts under $1.00.
c. Residual Payout. After the Initial Payout, and as long as the Seller is still within the 12-month Payout Period, you will receive Residual Payouts equivalent to 0.5% of the Seller's SNS in excess of $200 on the 10th of every month.
d. Maximum Payouts. You may only receive up to $1000 in combined Initial and Residual Payouts per referred Seller. The total of your bonus may not exceed MonsterPay's revenue for the volume that you have driven.
2.7. Payout Period. You are only eligible to receive Seller Referral Bonus payouts for the first 12 months of the Seller's account ownership.
2.8. Payout Frequency. Payouts will be made available in your MonsterPay on the 10 of every month.
2.9. Method of Referral. To receive credit for referring a Seller, the Seller must sign up for his or her MonsterPay account by going to the MonsterPay site through your Seller Referral Link.
3. Additional Terms and Conditions.
3.1. Bonus Period. MonsterPay reserves the right to discontinue the Bonus for any reason, at any time and for any duration at its sole discretion, and without notice.
3.2. Remedies for Your Noncompliance. If MonsterPay determines in its sole discretion that you have not complied with these Terms and Conditions, it may, in addition to any other rights and remedies it may have against you, immediately and without notice to you, withdraw all benefits to you under the Bonus (including, without limitation, by cancelling or declining to credit any and all refunds issued or to be issued to you in connection with the Bonus and, by declining to send or stopping from being sent, any Bonus payments).
3.3. Limitation of Liability for MonsterPay. TO THE FULLEST EXTENT PERMITTED AT LAW, NEITHER MONSTERPAY NOR ANY OF ITS AFFILIATES, DIRECTORS, OFFICER, EMPLOYEES, OR OTHER REPRESENTATIVES WILL BE LIABLE FOR DAMAGES ARISING OUT OF OR IN CONNECTION WITH THIS OFFER. THIS IS A COMPREHENSIVE LIMITATION OF LIABILITY THAT APPLIES TO ALL DAMAGES OF ANY KIND, INCLUDING (WITHOUT LIMITATION) COMPENSATORY, DIRECT, INDIRECT, OR CONSEQUENTIAL DAMAGES; LOSS OF DATA, INCOME, OR PROFIT; LOSS OF OR DAMAGE TO PROPERTY; AND CLAIMS OF THIRD PARTIES.
3.4. Entire Agreement. These Terms and Conditions represent the entire agreement between you and MonsterPay with respect to the Bonus.
3.5. Variation of the Terms and Conditions. These Terms and Conditions may be amended or modified by MonsterPay in its sole discretion at any time and these amendments and modifications will apply to you when you use the MonsterPay service. Any such amendments will be posted to this page, and it is your responsibility to review this page from time to time for such amendments.
3.6. Severance. If any provision of these Terms and Conditions is held to be invalid, such invalidity will not affect the remaining provisions.