CAAN PAYMENT TERMS

Last Updated: 22nd October 2018


These terms and guidelines govern the payments we make to our users. Please read carefully as CAAN offers various services in which the feature of collecting and making payments come into play.

* For Sponsorship Payments and terms – please read Terms & Conditions – Section ‘Sponsorships.’ This document contains payment terms and payout details for transactions conducted on the website between users.

1) Coach/Academy Bookings

When a user books a coach or an academy, they pay a fee for their service. Caanhub collects the payment on behalf of the coach/academy.

1.1) Payout to the Coach/Academy

a) The payment will be released to the coach/academy every Monday - after the service is offered. Also – the Monday should fall after 3 business days of the service being offered.

b) Multi Week Bookings - In case of bookings that are more than 1 week long, the payout will be made weekly, (Monday) only for the service the coach/academy has provided the previous week.

For example – If a user has booked a coach for 2 weeks. The payout after the first week of service will be made for that one weeks service only. The payment for the second week will be made only after the second weeks services are completed.

c) Bank Account Verification – we will need 2 things – Your PAN Card and Bank Statement for the immediate past month. The Statement should reflect clearly the Account Holders Name, Address, IFSC Code & Account Number.For Pvt. Ltd. Firms – Company PAN card will be required.

d) Refunds & Cancellation – The client & Coach/Academy both can cancel the booking at any given time.

d1) Client Cancellation & Refund – If the client cancels the booking, 48 hours before the service is scheduled, the whole service amount will be refunded. We will deduct transaction fees that is accrued by us. For late cancellations or cancellations made for services for which less than 48 hrs. are left, we will refund only 50% of the amount.

d2) Coach/Academy Cancellation – If the coach cancels the booking, the full amount will be refunded to the client. For late cancellations or cancellations made for services for which less than 48 hours are left, we will penalize you 100 rupees on the next booking the coach/academy gets.

e) CAANHUB Fees & Commission -:

In order to provide you the service, we will charge you a service fees.

This will be equivalent to 6% of the booking amount PLUS 1% transaction fees.

The bank and the payment gateway providers charge the transaction fee to us.

For example - if a customer books you for 1,000 Rupees. You will get – 930 Rupees in your account.
1% of 1,000 = 10 (Transaction Fees)
6% of 1,000 = 60 (Service Fees)
Total Payout = 1000 - 70 = 930

2) Registration Services

Any Competition can start taking registrations from interested participants. These can be teams (For team style comps) or individuals/players (For individual style comps)

Competition organizers can collect joining or registration fees from their participants if they wish so.

2.1) Payout to the Competition Organizer

a) The payment will be released to the competition organiser within 2 business days after the competition completes.

If you need the payment to be made before the competition – we will need proof to confirm that the competition is actually happening and will not cancel. Please submit-:

Venue Booking receipt

Social Media Advertisement receipts

Proof of a previous season if any

PAN card of the person/company

Address Proof of the organiser

b) Bank Account Verification – we will need 2 things – Your PAN Card and Bank Statement for the immediate past month. The Statement should reflect clearly the Account Holders Name, Address, IFSC Code & Account Number.

For Pvt. Ltd. Firms – Company PAN card will be required.

c) Cash Bookings Not Supported - Payments will only be made to the bank account that was provided and verified earlier. We do not pay cash and not encourage users to pay cash either. In case of cash bookings, we will not be able to help in any which way as we would consider that booking to have not taken place through our platform. We are in no which way responsible for anything.

d) Refunds & Cancellation – The Competition Organiser & The Player/team - both can cancel the registration at any given time before the competition.

d1) Organiser Cancels & Refund – If the organiser cancels the registration, the whole registration amount will be refunded back to the player/team. We will deduct transaction fees that is accrued by us. For late cancellations or cancellations made only 7 days or less are left for the competition, we will enforce penalties of upto 15% on competition organizers.

d2) Team/Player Cancels & Refund – If the team/player cancels the booking, the full amount will be refunded to the team/player. We will deduct 25% of the registration amount if you cancel your participation 14 days before the competition. We will deduct 50% of the registration amount if you cancel your participation 7 days or less before the competition and or if you cancel on a date after registrations have officially closed for the competition. Please be careful as competitions can suffer heavily when and if participants pull out last minute.

e) CAANHUB Fees & Commission -:

In order to provide you the service, we will charge you a service fees.

This will be equivalent to 6% of the registration amount PLUS 1% transaction fees (On every transaction)

The bank and the payment gateway providers charge the transaction fee to us.

For example - if a customer pays your joining fees of 1,000 Rupees. You will get – 930 Rupees in your account.
1% of 1,000 = 10 (Transaction Fees)
6% of 1,000 = 60 (Service Fees)
Total Payout = 1000 - 70 = 930

3) Crowd-funding Campaigns

Crowd Funding and fund raisers are not open for the general public. It is initiated & managed by the Caanhub Team only.

If we find an athlete of high potential, but struggling financially - we will decide to run a campaign for you.

In order to learn more or send details of someone you would like a campaign initiated for - kindly mail all details to - info@caanhub.com or Whatsapp +91 913 686 4900.

Please note: The athlete must be a registered Caanhub user.

a) The payment will be released to the athlete or athletes legal guardian within 3-4 business days after the campaign successfully completes.

b) Bank Account Verification – we will need 2 things – Your PAN Card and Bank Statement for the immediate past month. The Statement should reflect clearly the Account Holders Name, Address, IFSC Code & Account Number.

c) Refunds & Cancellation – The donor can cancel their donation at any given time – Before the campaign ends.

c1) Donor cancelling & refund – If the donor cancels the donation, the whole amount will be refunded. Though we will deduct transaction fees that are accrued by us – within 3 business days.

c2) Unsuccessful Campaigns – If a campaign is not able to meet their target, every donor that donated the amount will get a complete refund of their amount – within 3 business days of campaign ending.

e) CAANHUB Fees & Commission -:

In order to provide you the service, we will charge you a service fees.

This will be equivalent to 6% of the total donated amount PLUS 1% transaction fees (On every transaction)

The bank and the payment gateway providers charge the transaction fee to us.

For example - if a donor donates 1,000 Rupees. You will get – 930 Rupees in your account.
1% of 1,000 = 10 (Transaction Fees)
6% of 1,000 = 60 (Service Fees)
Total Payout = 1000 - 70 = 930

4) CAAN Currency

(The “Currency” feature is only active for users in India)

Think of CAAN Currency like POINTS you will earn – which you can redeem later to buy goods and services of partner brands or cash out later (Cashing Out feature Not Active as of December 2018)

We call it ‘BUCKS.’

This section will give you a clear idea on how you can earn CAAN currency, and how & where can you use it.

We recommend you read this carefully and understand all details.

In order to start generating currency, you need to start being active on Caanhub.com - As simple as that. Pretty much every activity you do on the platform will help you earn.

4.1) These following activities will help you earn CAAN Currency-:

A) Uploading Pictures

Every time you upload a picture on Caanhub, you will earn 5 bucks.

You will earn further bucks for likes, shares & comments.1 point for each like, share and comment.

Please note: when your pictures will be shared on Facebook, the likes and shares over there will also count.

For Example-:

If you upload 25 pictures and total number of times picture liked, shared & commented upon = 75.

You will earn –: 5x25 = 125 + 75 = 200 Bucks

B) Adding Sponsor logos on photos

You can insert/add sponsors logos on every picture you upload. (Please see below how you can insert sponsor logos)

You will earn 50 bucks for each picture on which you insert sponsor logo.

For Example-:

If you upload 25 pictures, you will earn 50x25= 1,250

How to insert sponsor logos?

* After uploading the photo, open it in full screen (by clicking on the photo)

* Click ‘Options’ - Then ‘Insert Sponsor logo’ – the system will automatically then insert the logo on your picture, if there is a sponsor available for your region, sport or competition.

Permission

* When you insert a sponsors logo on your content/photo, you permit a business or other entity to pay us for your content, without any compensation to you.

* You understand that we may not always identify paid services and communications as such.

* You permit the sponsor to display your name and/or profile picture, or the photo you have inserted sponsors logo on to advertise and promote them further.

C) Uploading Videos

When you upload a video, (minimum 1 minute in length) for each video you will get 20 bucks.

Further bucks will be given on likes, shares, comments on your video. 1 point for each

Please note: when your pictures will be shared on Facebook, the likes and shares over there will also count.

Video views will also help you earn points. For every view you will earn 1 buck.

Please note: your total views will be divided by *CCD.

For Example:

Number of videos uploaded = 5

Number of times video liked, shared & commented = 100

Total number of video views = 1,000

Total Bucks Earned – 5x20 + 100 + 1,000/10 = 300 (Considering CCD is 10)

* To understand what’s CCD, please scroll below.

D) Sharing Your Profile & Sharing other Details

When you and your friends, share these following things, on Caanhub or on other social media (Facebook) - you will earn 5 bucks for each share.

1) Your Profile

2) Schedule of your competition

3) Scorecard of your competition.

You will also earn further bucks when these posts are liked and commented upon. 1 point for each like and comment.

For Example -:

If your profile is shared 10 times. You earn-:5x10 = 50

Likes and comments = 20

Total Bucks Earned = 70

E. Data maintenance – (Only for Competitions)

One of the most important duties of a competition organiser is to maintain all data of their competition and keep it as updated as possible. It’s not mandatory, but will help you earn lots of bucks.

1E) Participant registrations

Each and every participant (player & teams) of your competition must complete his or her registration on caanhub.For every participant – you get 500 Bucks.

2E) Creating Proper Schedule

Schedule need to be created properly – 100 bucks for every game/match listed.

3E) Creating Scorecards and Updating Results

Creating scorecards and updating results is a major feature that will help the world to recognize you as a great competition organiser. For every game you do that, you earn 750 bucks per game.

F) CAAN super host standards – (Read section 12 of Comp. Hosting Guidelines) - (Only for Competitions)

Please read point 12 of comp hosting guidelines in detail.

After your competition gets over, we will judge you on a scale of 0 to 5 stars.

0 being the lowest, 5 being the highest.

Every star will get you 1000 points.

When a CAAN representative visits the competition on ground, he or she will take note of the quality of competition, hosts’ efforts, and standards that are being put in place. Accordingly you will earn stars.

We can also call people who participated in your competition to get an idea on the standards and quality maintained by you.

For Example-:

If you get a 4 Star Rating – You will get 4,000 Points

G) Challenging and Daring Others

You can earn bucks by challenging and daring others. You will earn 100 bucks when the opponent accepts your challenge.

You will earn further 400 bucks after you upload photos as proof of the challenge/dare taking place and updating the result.

H) Following and Followers

Your total followers & Following will also get you bucks.

For Example-:

If your followers are = 100
And the number of people you following is = 100
You will have 200 Bucks

I) Referrals

Every person you refer that signs up on Caanhub – you earn 2,500 bucks.

4.2) Currencies Value While Redeeming or Cash Out

There are number of factors that come into play when the amount that will be paid out to the user is calculated.

Payouts are directly calculated by “Total number of BUCKS you earn” divided by the “Current Common Denominator” (CCD)

Current Common Denominator – It’s a number that is generated every month by our management.This is non negotiable and all rights to determine this number lie with the company and our team.

For this example, we will consider the CCD to be 10.

FOR EXAMPLE-:

Your total bucks = 10,000
Your Cash in Hand will be - 10,000/10 = 1,000 rupees.

PLEASE NOTE: the ability to earn bucks will also depend on your role.

PLAYERS, TEAMS & COACHES have less features and opportunities than COMPETITION ORGANIZERS.

That’s because competition organizers have lot more tools and features.