7. Payment
The Company agrees at its sole discretion to pay the Affiliate either:
1. a commission based on the Net Revenue (as defined in Article 23 below) generated from New Customers identified by the Affiliates tracking link as being referred by the Affiliate’s Website and/or other channels; or
2. a cost per acquisition (CPA) model generated from New Customers identified by the Affiliates tracking link referred by the Affiliate’s Website and/or other channels (terms set out in Article 24 below),
as set out in the Insertion Order.
A commission based on the Net Revenue will be the default position for all Affiliates. The CPA model will only be available to those Affiliates agreed by the Company, acting in its sole discretion, as set out in the Insertion Order.
New Customers for the purposes of this Agreement are those customers of the Company: (i) who do not yet have and have not had a betting account with any Company Website or any website of any of its group companies; (ii) who access the Affiliate Website via the tracking link; (iii) who properly register and make real money transfers at least equivalent to the minimum deposit into their BetKing account; and (iv) are residing in Nigeria (“New Customers”).
At the sole discretion of the Company the Affiliate may be given the opportunity to restructure its commission structure. Once an Affiliate opts to accept the Company’s offer for a different revenue structure, then the Affiliate is aware and hereby agrees and understands that the new proposed revenue structure shall replace his existing commission structure in its entirety. Notwithstanding the above, all the Affiliate’s obligations assumed under this present Agreement will still continue to apply to the Affiliate up until the termination of this Agreement.
If the commission is based on Net Revenue, as set out in the Insertion Order, then such commission shall be a percentage of the Net Revenue in accordance with what is set out in the commission structures for the particular product. The calculation is product specific, is at the Company’s sole discretion and it is set out in every product-specific commission structure.
The commission is calculated at the end of each month and payments shall be made to the Affiliate by the end of the following calendar month, provided that the amount due exceeds one hundred USD ($100) or the equivalent in Naira for Bank Wire transfers (“Minimum Threshold”). If the balance due is less than the Minimum Threshold, it shall be carried over to the following month and shall be payable when the accrued balance exceeds the Minimum Threshold.
Payment of commissions shall be made as per the payment method chosen by the Affiliate into the Affiliate account, as set out in the Insertion Order. The Affiliate is aware and hereby agrees that if payment of commission is required in any currency other than Naira, that the Affiliate will pay any costs associated with the procuring of that currency. If an error is made in calculating the commission, the Company reserves the right to correct such calculation at any time and will immediately pay out underpayment or reclaim overpayment made to the Affiliate.
Acceptance of payment by the Affiliate shall be deemed to be full and the final settlement of the balance due for the period indicated.
If the Affiliate disagrees with the balance due as reported, it shall within a period of thirty (30) days send an email to the Company to affiliates@BetKing.com and indicate the reasons of such dispute. Failure to send an email within the prescribed time limit shall be deemed to be considered as an irrevocable acknowledgment of the balance due for the period indicated.
The Company may delay payment of any balance to the Affiliate for up to one hundred and eighty (180) days, while it investigates and verifies that the relevant transactions comply with the provisions of the Terms of this Agreement.
No payment shall be due when the traffic generated is illegal or contravenes any provision of these Terms.
The Affiliate agrees to return all commissions received based on fraudulent or falsified transactions, plus all costs for legal causes or actions that may be brought against the Affiliate to the fullest extent of the applicable law.
For the sake of clarity, the parties specifically agree that upon termination of this Agreement by either party, the Affiliate shall no longer be entitled to receive any payment whatsoever from the Company, provided that payments already due (earned and unpaid commissions) shall be paid out, subject to traffic generated being legal and not in contravention with any provision of these Terms.
The commission shall be deemed to be inclusive of value added tax or any other tax if applicable.
The Affiliate shall be exclusively responsible for the payment of any and all taxes, levies, fees, charges and any other money payable or due both locally and abroad (if any) to any tax authority, department or other competent entity by the Affiliate as a result of the revenue generated under this Agreement. The Company shall in no manner whatsoever be held liable for any amounts unpaid but found to be due by the Affiliate and the Affiliate hereby indemnifies the Company in that regard. The Company shall have the right to deduct from the commission payable to the Affiliate any and all taxes that are required to be deducted by law.
8. Periods of Inactivity
In the event that you fail to refer atleast five (5) New Customers by the end of a calendar month, during any one (1) month period, the Company reserves the right to reduce your Net Revenue commission rate as set out in the insertion Order to a Net Revenue commission rate of zero percent (0%) and so for the avoidance of doubt you will not be paid any commission. Your Net Revenue commission rate will only be reverted back to the percentage set out in the insertion order at the sole discretion of the Company and for the avoidance of doubt not when you have referred five (5) New Customers. this clause 8 will prevail over the insertion Order.
9. Termination
This Agreement may be terminated by either party by giving a thirty (30) day written notification to the other party. Written notification may be given by an email to the address set out below:
Affiliate: to the email address used in the Insertion Order registration form to this Affiliate Program
Company: legal@kingmakers.com
The contracting parties hereby agree that upon the termination of this Agreement:
1. the Affiliate must immediately remove all references to /BetKing and/or its brands (including brands of its group companies) and/or the Company Websites from the Affiliate’s Websites and/or other marketing channel and communications, irrespectively of whether the communications are commercial or non-commercial.
2. all rights and licenses granted to the Affiliate under this Agreement shall immediately terminate and all rights shall revert to the respective licensors, and the Affiliate will cease the use of any trademarks, service marks, logos and other designations vested in the Company or the Company’s affiliates.
3. the Affiliate will be entitled only to those earned and unpaid commissions as of the effective date of termination of this Agreement; however, provided, the Company may withhold the Affiliate’s final payment for a reasonable time to ensure that the correct amount is paid. The Affiliate will not be eligible to earn or receive commissions after this date.
4. if this Agreement is terminated by the Company on the basis of the Affiliate’s breach of the Terms or applicable laws, the Company shall be entitled to withhold the Affiliate’s earned but unpaid commissions as of the termination date of this Agreement as collateral for any claim arising from such breach. It is further specified that termination by the Company due to a breach by the Affiliate of any of the clauses in this Agreement shall not require a notice period and such termination shall have immediate effect upon simple notification by the Company to the Affiliate.
5. the Affiliate must immediately return to the Company any and all confidential information (and all copies and derivations thereof) in the Affiliate’s possession, custody and control.
6. the Affiliate will release the Company from all obligations and liabilities occurring or arising after the date of such termination, except with respect to those obligations that by their nature are designed to survive termination. Termination will not relieve the Affiliate from any liability arising from any breach of this Agreement, which occurred prior to termination and/or to any liability arising from any breach of confidential information even if the breach arises at any time following the termination of this Agreement. The Affiliate’s obligation of confidentiality towards the Company shall survive the termination of this Agreement.
7. The Affiliate is to be aware that any operation from its end which runs counter to this Agreement may result in very serious consequences for the Affiliate itself, for BetKing, the Company, or for both Parties, including without limitation, fines, penalties, breaches of license conditions and ability to do business, as well as potential civil and criminal action against the Affiliate or BetKing or the Company by the respective authorities. Without prejudice to any of the Company’s rights herein or at law, the Company may forthwith terminate this Agreement, in part or in its entirety, or any of your accounts should you act in breach of the foregoing and the Affiliate shall be held fully responsible and liable for any such resulting fine, penalty, claim, action, or loss which is caused to the Company or its group companies as a result of your action or default as the case may be.
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