+SHOPKEEPERS PROGRAM COMMISSION INCOME STATEMENT
Last updated: August 23, 2023
This Commission Income Statement details the terms of the commission earned by your +Shopkeeper Site within the framework of your affiliate marketing relationship with MarketNation Inc.
1. Qualifying Purchases and Qualifying Revenue
We will pay Standard Commission Income described in Section 3 of this Commission Income Statement in connection with “Qualifying Purchases”, which (subject to the exclusions described in this Commission Income Statement) occur when:
(i) the customer purchases a Product in your +Shopkeeper’s +Shop powered by MarketNation
(ii) the Product is shipped to, downloaded by, and paid for by the customer.
2. Disqualified Purchases
Notwithstanding the foregoing, Qualifying Purchases are disqualified whenever they occur in connection with a violation of this +Shopkeepers Program Commission Income Statement or any other terms, conditions, specifications, statements, and policies that we may issue from time to time that apply to the +Shopkeepers Program, including the most up-to-date version of the Agreement (collectively, the “Program Documents”).
Further, the following purchases that would otherwise be Qualified Purchases are disqualified and excluded from the +Shopkeepers Program:
(a) any Product purchased after termination of your Agreement,
(b) any Product order where a cancellation, return, or refund has been initiated,
(c) any Product purchased by a customer, where such customer does not comply with the terms and conditions applicable to a MarketNation +Shop,
3. Standard Commission Income
Subject to the limitations described in this Commission Income Statement and compliance with the Agreement, we will pay you standard commission income described in the Appendix below (”Standard Commission Income”). Commission Income is calculated as a percentage of Qualifying Revenue.
4. Commission Income Limitations
From time to time, we may impose limits on +Shopkeepers’ opportunity to earn Standard Commission Income. For the avoidance of doubt (and notwithstanding any time period), MarketNation reserves the right to discontinue or modify all or part of any limitation at any time.
5. Commission Income Reporting and Payment
We will use commercially reasonable efforts to accurately and comprehensively track Qualifying Purchases for the purposes of our internal tracking, and create and distribute to you our reports summarizing Standard Commission Income earned by you during that month.
We will pay Standard Commission Income in the default currency for your MarketNation +Shop approximately 45 days following the end of each calendar quarter in which they were earned by the method that you have selected.
Option 1: Payment by Direct Deposit. We will directly deposit the commission income you earn into the bank account you designate once you have provided us with the name of your bank, the account number, the name of the primary account holder as it appears on the account, and other requested identifying information (such as the ABA, IBAN or BIC number, if applicable). If you select this option, we reserve the right to hold commission income until the total amount due to you reaches the minimum stated in the Payment Minimum Chart.
Option 2: Payment by Check. We will send you a check in the amount of the commission income you earn once you have provided us with a physical address. If you select this option, we reserve the right to hold commission income until the total amount due to you reaches the minimum stated in the Payment Minimum Table and to deduct a processing fee as stated in the Payment Minimum Table from each check we send to you.
If you do not select or maintain valid information for a payment option, we may at our discretion pay you through another payment option or hold earned commission income until you make your selection or provide such information.
Payment Minimum Table
Option 1 (Deposit): $50
Option 2 (Check): $100
Check Processing Fee : $15
If at any time there has been no substantial activity on your account for at least 1 year, then we will have the right, with 7 days’ written notice to withhold the accrued commission income for your inactive account. Further, any unpaid accrued commission income in your account may be subject to escheatment under applicable law or become extinct by applicable statute of limitation.
Payments made to you, as reduced by all deductions or withholdings described in the Agreement, will constitute full payment and settlement to you of amounts payable under the Agreement.
If any excess payment has been made to you for any reason whatsoever, we reserve the right to adjust or offset the same against any subsequent commission income payable to you under the Agreement.
APPENDIX
Currently, a baseline commission rate of 5% or more will be paid quarterly to each +Shopkeeper for sales made through their +Shop.
When available, a Standard Commission Income Table will be published and kept current in the +Shopkeepers +Shop portal at https://plus.shop/shopkeeper (Coming Soon / Early 2024). Commissions will be awarded on a quarterly basis according to the schedule listed in the Shopkeepers portal at the time of a customer’s purchase, but not less than the baseline commission rate of 5% or more on sales made through each +Shopkeepers +Shop. +Shopkeeper commissions on individual transactions will vary from 3% to 15% or more and often depend on the product category of purchase and/or Brand promotions that may change from time-to-time.
Any potential +Shopkeepers Agency commission will be handled separately from the +Shopkeepers +Shop commission.
