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Payments

We will pay your revenues once a month - before the 15th day of the month following the one over which your revenues have been computed; So for example your revenues over March will be paid before April 15.

There are some provisos regarding this procedure:

1: If total revenues are smaller than 25,00 euro, we will add the revenues to those of the following month and keep doing this until total accumulated revenues exceed 25,00 euro;
2: You can ask us to pay your revenues earlier or when they are smaller than the aforementioned sum of 25,00 euro, but in that case - unless you use Paypal - we will charge you all transaction costs (if any) viz. transaction costs below.

Transaction costs

International bank transferments are expensive, and the Baduk-school prefers strongly to avoid unnecessary bank fees. So we ask Students and Teachers outside the European Community to set up a PayPal account. This is completely safe and free of charge. You can contact our support department should you require assistance.

In case you use PayPal we will never charge you any transaction fees for payments.

In case you use only bank, transaction costs for our monthly payments are charged to you in full, unless:
1: You use a bank located within the European union (no charges)
2: Paypal is not available withing your country

In the latter case we will negotiate about the optimum way of paying your revenues to minimise expenses.

Revenues

You can see your revenues at any moment via your account. Note that your revenues are computed as follows:

1: For every student enrolled in one of your activities the enrollment-fee is added
2: In case of a fixed-fee activity (i.e. independent of the number of enrolled students) the fixed fee is added
3: For every item owned by you the fee is added
4: Revenues from 1-2 and 3 are added
5: 10% is deducted as our standard fee and the remainder constitutes your monthly revenues

Please note that for activities all revenues are added to the month in which the activity takes place. The actual date of enrollment by a student may be in a different month. This is handled automatically.

Postponed payment and payment on request

It is possible to postpone payment or to ask for payment on a sepcific day. We charge no extra fee for this service.