This Referral Commission Agreement (“Agreement”) is entered into as of 20/05/2024, by and between:
1. Romp International (“Company”), a business registered and existing under the laws of Barbados, with its principal office located at Waterfords, St. Michael, Barbados
.
2. The Sellers (“Sellers”), individuals or entities registered as sellers on the Romp International website.
3. The Band Section Owners (“Band Section Owners”), individuals or entities responsible for the sections of the website dedicated to specific bands or musical acts.
Recitals:
WHEREAS, Company operates an online marketplace at [Romp International’s Website] (“Website”);
WHEREAS, Sellers wish to promote and sell their items on the Website;
WHEREAS, Band Section Owners wish to manage and oversee specific sections of the Website dedicated to particular bands or musical acts;
WHEREAS, Company, Sellers, and Band Section Owners desire to establish a referral commission structure whereby Sellers receive a commission for successfully referring customers to purchase items on the Website;
NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties agree as follows:
1. Referral Commission
1.1 Commission Rate: A commission of ten percent (10%) of the sale price of each item successfully purchased by a referred customer on the Website shall be paid to the referring Seller.
1.2 Eligibility: A “referred customer” is defined as a new or existing customer who completes a purchase on the Website as a direct result of a referral made by the Seller.
1.3 Tracking Referrals: The Company will provide a unique referral code or link to each Seller for tracking purposes. The referral code or link must be used by the customer at the time of purchase to qualify for the commission.
2. Payment Terms
2.1 Payment Schedule: Commissions will be calculated on a monthly basis and paid to Sellers within 1 – 2 weeks of the end of each calendar month.
2.2 Payment Method: Payments will be made via [bank transfer or any other payment method ].
2.3 Minimum Payout Threshold: A minimum payout threshold of USD$400 must be reached before a commission payment is issued. If the commission earned is below this threshold, the amount will roll over to the following month until the threshold is met.
3. Responsibilities of the Parties
3.1 Company’s Responsibilities:
- Provide Sellers with unique referral codes or links.
- Track and report referred sales accurately.
- Disburse commission payments in accordance with this Agreement.
3.2 Sellers’ Responsibilities:
- Promote their items and provide referral codes or links to potential customers.
- Abide by all applicable laws and the terms and conditions of the Website.
3.3 Band Section Owners’ Responsibilities:
- Manage and oversee the sections of the Website dedicated to specific bands or musical acts.
- Support and encourage the referral program within their sections.
4. Term and Termination
4.1 Term: This Agreement shall commence on the date first written above and continue in effect until terminated by either party in accordance with this Agreement.
4.2 Termination: Either party may terminate this Agreement at any time, with or without cause, by providing 10 days’ written notice to the other party.
5. Miscellaneous
5.1 Confidentiality: The terms of this Agreement and any proprietary information shared between the parties shall be kept confidential and not disclosed to any third party without prior written consent.
5.2 Governing Law: This Agreement shall be governed by and construed in accordance with the laws of Barbados.
5.3 Entire Agreement: This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous understandings, agreements, representations, and warranties, both written and oral.
5.4 Amendments: This Agreement may only be amended or modified by a written agreement signed by both parties.
5.5 Severability: If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck, and the remaining provisions shall be enforced.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.