TimeTec - Cloud Solutions for Workforce Management

There are two ways to purchase TimeTec licenses:

1. Payment through Reseller

2. Payment direct to TimeTec by Customer

When subscriptions are confirmed and customers have settled the payments, resellers can claim their commission in accordance to the Reseller Partnership Agreement signed.

Overview of the Commission Payment Process

A.	Payment through Reseller
	The commission will be deducted directly from the Invoice; reseller needs to pay the balance amount only.

RESELLER

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

Customer order and pay license

Generate Official Receipt & activate license

RESELLER

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

Terms & Conditions for Reserved Commission


•	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.

Commission Payment Method

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:

• e-banking (for Malaysia Reseller)

• Telegraphic Transfer (TT)

• PayPal

Any bank charges incurred for the payment shall be borne by Reseller.

Currency


•	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.