FAQ
Q: Payment Terms
A:
Deposit- When a User deposits funds into their uFathom account.
Withdrawal- When a User removes funds from their uFathom account.
Referral Fee- Referral Fee is profit sharing between uFathom and a User that refer associates or contacts to the uFathom website. Users typically capture a referral fee with the placement of uFathom banner on the a website owned by the referring User.
uFathom Trust- The uFathom Trust is a service where uFathom holds funds for the Service Buyer is fully satisfied with a project. Once Service Buyer agrees that the Project expectations have been met, the Service Buyer will transfer the funds
Release Payment- When the Service Buyer transfer funds from the uFathom Trust account into the Service Provider account. The Release Payment is only recommended for when the service buyer is 100% satisfied quality of the finished Project.
Partial Completion- When a Service Buyer and Service provider mutually agree to cancel a project for a valid reason. A Partial Completion will then involve the Service Buyer releasing payment for the percent (%) of the both parties feel have been completed. When this occurs Service Buyer will Select Partial Completion in the User Control Panel and the Service Buyer will agree to that amount.
Dispute- A Dispute occurs when a Project has been started and the one or both parties want to cancel the Project. The Dispute is different from a Partial Completion as both parties disagree on the percent (%) of the Project that has been completed. The Dispute will be resolved when both parties find an acceptable compromise or by uFathom Arbitration.
Arbitration- When neither the Service Buyer nor Service Provider agree on an agreeable Partial Completion amount, uFathom will make a judgement on the percent (%) of the project that has been completed. The decision of the uFathom Support will be Binding and will not be up for further debate (as per the User Agreement). A fee for the use Arbitration will apply and will be payable by one or both parties.
Project Milestones- When both parties agree to sequential payments through the course of a Project. Project Milestones generally apply to large, long or ongoing assignments where a bulk payment is not an option.
Note: The funds deposited into the account can only be released in a bulk sum. If the Project is ongoing, commission based or involves milestones, the Service Buyer should ensure that the amount deposited is the appropriate amount to be released in a sum.
A:
Deposit- When a User deposits funds into their uFathom account.
Withdrawal- When a User removes funds from their uFathom account.
Referral Fee- Referral Fee is profit sharing between uFathom and a User that refer associates or contacts to the uFathom website. Users typically capture a referral fee with the placement of uFathom banner on the a website owned by the referring User.
uFathom Trust- The uFathom Trust is a service where uFathom holds funds for the Service Buyer is fully satisfied with a project. Once Service Buyer agrees that the Project expectations have been met, the Service Buyer will transfer the funds
Release Payment- When the Service Buyer transfer funds from the uFathom Trust account into the Service Provider account. The Release Payment is only recommended for when the service buyer is 100% satisfied quality of the finished Project.
Partial Completion- When a Service Buyer and Service provider mutually agree to cancel a project for a valid reason. A Partial Completion will then involve the Service Buyer releasing payment for the percent (%) of the both parties feel have been completed. When this occurs Service Buyer will Select Partial Completion in the User Control Panel and the Service Buyer will agree to that amount.
Dispute- A Dispute occurs when a Project has been started and the one or both parties want to cancel the Project. The Dispute is different from a Partial Completion as both parties disagree on the percent (%) of the Project that has been completed. The Dispute will be resolved when both parties find an acceptable compromise or by uFathom Arbitration.
Arbitration- When neither the Service Buyer nor Service Provider agree on an agreeable Partial Completion amount, uFathom will make a judgement on the percent (%) of the project that has been completed. The decision of the uFathom Support will be Binding and will not be up for further debate (as per the User Agreement). A fee for the use Arbitration will apply and will be payable by one or both parties.
Project Milestones- When both parties agree to sequential payments through the course of a Project. Project Milestones generally apply to large, long or ongoing assignments where a bulk payment is not an option.
Note: The funds deposited into the account can only be released in a bulk sum. If the Project is ongoing, commission based or involves milestones, the Service Buyer should ensure that the amount deposited is the appropriate amount to be released in a sum.
