Version one (1) 2023-07-13
Quickbit Merchant Referral Program
Principal: QB Europe AB, corp. no. 559265-3793, (“Quickbit”) part of the Quickbit eu AB (publ) group (“Quickbit group”)
Description: Quickbit Merchant Referral Program (the “Program”) is a referral program incentivizing external contributors to participate as ambassadors (“Ambassadors”) for Quickbit’s B2B platform Quickbit Pay through Quickbit’s sharing of a portion of the proceeds with ambassadors that have facilitated merchant dialogues that have led to new merchant contracts for Quickbit Pay (“Merchants”). These terms outline the process and conditions to participate in the Program.
Terms and Conditions of The Program
§ 1. Eligibility:
The Program is open to individuals who are at least 18 years of age and have a valid email address.
Employees of Quickbit group and their immediate family members are not eligible to participate in the Program.
Participation in the Program, the adherence to the terms and conditions hereunder and the terms and conditions themselves do not constitute an employment contract nor give rise to rights and obligations of such a relationship. By participating in the Program, the participant waivers any such claims.
By participating in the Program, the Ambassador actively consent to Quickbit processing the necessary Personal Data regarding the Ambassador for the purpose of being able to perform Quickbit’s legal obligations associated with the Program.
§ 2. Referral Process:
To participate in the Program, Ambassadors must refer new merchants ("Referred Merchants") to Quickbit.
A referral is initiated by sending an email to firstname.lastname@example.org with the subject “Merchant referral” with information on the merchant, contact person at the merchant, the opportunity and the proposed steps for arranging a meeting or similar.
Ambassadors must at least contribute to a meeting or a similar interaction (where Quickbit reserves the right to determine if similar interaction is equivalent to a meeting) between Quickbit and the Referred Merchant to be eligible for compensation under the Program.
§ 3. Referral Compensation:
The compensation amount is dependent of fees earned and received by Quickbit on the volume transacted under the contract with the referred merchant. The compensation is calculated by a percentage of fees earned and received by Quickbit reduced with direct costs associated with the transacted volume. The compensation percentage is 5% of the total margin earned during the first year.
§ 4. Qualifying Referrals:
To be considered a qualifying referral, the Referred Merchant must:
a) Be a new merchant to Quickbit, i.e., they must not have an existing account or relationship with Quickbit,
b) Enter into a valid contract for payment services with Quickbit within 60 days of the referral.
§ 5. Payment of Compensation:
The calculated compensation for qualifying referrals will be communicated in a report to the Ambassador quarterly.
Compensation for qualifying referrals will be paid to Ambassadors within 60 days of the Ambassador sending an invoice for the compensation amount according to the report.
The Ambassador is responsible for having a company or service for invoicing.
Quickbit is not responsible for any fees or charges associated with the invoicing or payment.
Any taxes, social charges or other charges associated with the compensation are included in the compensation. Quickbit reserves the right to withhold any taxes, social charges or other charges associated with the compensation if Quickbit has reasons to believe that such liability may be applicable. Such withheld taxes, social charges or other charges associated with the compensation will be paid out as soon as Quickbit procured assurance from relevant authority that no such liability remains.
§ 6. Termination and Modification:
Quickbit reserves the right to amend these terms and conditions and modify the Program at any time without prior notice.
In the event of termination, Ambassadors will be compensated for qualifying referrals made prior to the termination date.
Quickbit reserves the right to disqualify Ambassadors from further participation in the Program as well as reassess such referrals which previously have been deemed as qualifying referrals as non-qualifying referrals if Quickbit learns of fraudulent, or unlawful actions on the Ambassador’s part in association with the participation in the Program.
§ 7. Compliance with Laws:
Ambassadors agree to comply with all applicable laws and regulations when participating in the Program.
Ambassadors shall not engage in any fraudulent or misleading activities to obtain referrals or compensation.
§ 8. Privacy:
Ambassadors have the right to request access, correction, or deletion of their personal information by contacting Quickbit.
§ 9. Agreement:
By actively participating in the Program, you adhere to these terms and conditions.
Quickbit reserves the right to disqualify any Ambassador who violates these terms and conditions or engages in fraudulent activities.
§ 10. Miscellaneous:
No failure to exercise, nor any delay in exercising, any right or remedy under the terms and conditions by Quickbit shall operate as a waiver, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise of any other right or remedy.
The Ambassador may not assign any rights nor obligations hereunder to another person.
Nor the Ambassador’s participation, Ambassador’s adherence to these terms and condition nor the terms and conditions create a partnership or joint venture between Quickbit, and the Ambassador and the Ambassador does not have the authority to enter into any engagement or make any representations or warranties on Quickbit’s behalf nor may otherwise bind or oblige Quickbit in any way.