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| Reseller Commission Guide |
| There are two ways to purchase TimeTec licenses: | ||
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| When subscriptions are confirmed and customers have settled the payments, resellers can claim their commission in accordance to the Reseller Partnership Agreement signed. |
| A. | Payment through Reseller |
| The commission will be deducted directly from the Invoice; reseller needs to pay the balance amount only. |
| Reseller Invoice Customer |
| TimeTec Invoice Reseller, minus the commission |
| Generate Official Receipt & activate license |
| B. | Payment Direct to TimeTec by Customer |
| Commission will be reserved for Reseller in the system. Reseller can claim commission either in cash or by way of contra against FingerTec readers and/or spare parts or other TimeTec invoices. |
| Customer order and pay license |
| Generate Official Receipt & activate license |
| System auto generate Proforma Invoice/ Proforma Tax Invoice on behalf of Reseller to TimeTec with commission amount |
| Reseller to issue official Invoice/Tax to TimeTec within 14 days to claim the commission |
| Reseller to submit Credit Advice to TimeTec to request for commission in CASH or contra against readers and spare parts OR offset with other TimeTec Invoice |
| TimeTec pay/ship items to Reseller |
| Reseller send Credit Note/Receipt upon receiving the product/payment |
| • | System will auto-generate a Proforma Invoice on behalf of the Reseller to TimeTec for the commission reserved. Reseller MUST issue an Invoice/Tax Invoice to TimeTec within 14 days to recognize the commission earned. |
| • | Resellers may request their earned and accrued commission in cash or to set-off/contra against the purchase of FingerTec readers/devices and/or spare parts from TimeTec Computing Sdn Bhd, the sister company of TimeTec Cloud Sdn. Bhd., and/or offset with any TimeTec invoices, etc. |
| • | To utilize the commission amount, a Credit Advise must be issued from Reseller to TimeTec Cloud Sdn Bhd to indicate the intention. |
| • | TimeTec will only pay the commission in cash if the accrued commission exceeds the amount of RM300/USD100. No restriction on amount applies for contra. |
| • | Resellers need to issue a Credit Note upon receiving of FingerTec readers/devices, spare parts and etc. shipped by TimeTec Computing Sdn. Bhd., and/or issue a Receipt upon receiving the payment from TimeTec Cloud. |
| • | TimeTec Customer account can be terminated at anytime, and unused subscriptions are entitled to a refund. Get more information on the refund process and policy here. |
| TimeTec will only arrange payment of commission owing to Reseller as and when the cumulative amount exceeds RM300/USD100. Payment will be done either via: |
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• e-banking (for Malaysia Reseller) |
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• Telegraphic Transfer (TT) |
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• PayPal |
| Any bank charges incurred for the payment shall be borne by Reseller. |
| • | TimeTec will pay the commission in the currency of Malaysian Ringgit (RM) for Malaysian Reseller or United States Dollar (USD) to TimeTec Reseller from other countries. |
| • | TimeTec will not be liable for any commission amount discrepancies due to currency exchange rates. |
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