Payouts. The Company undertakes to process the payments due to the Teacher two times per month based on the information specified in the Platform’s database regarding the scope of the teaching services provided by the Teacher. The Platform’s database is updated every two weeks, and after that, the due payout is to be made within 30 days. The Platform shall calculate the payments due to the Teacher after deducting the Service fee and all out-of-pocket administrative, operational, and other expenses for facilitating the online teaching services by the Teacher. Payments shall be made via the bank transfer to the Teacher’s bank or card account, Ecommpay account, or other e-payment systems available for both the Teacher and the Platform. The payouts are usually made in EURO, USD, or UAH depending on the Teacher’s place of residence. The Service Provider may make payouts in another currency available on its accounts on the payment day. The Company shall use the exchange rate (available here ▇▇▇▇▇://▇▇▇.▇▇▇▇▇▇.▇▇▇/finance/) on the date that precedes the calculation date to calculate the equivalent of the amount due in the payment currency. If the payout amount due to the Teacher for the payment period is lower than the sum equivalent to USD 50, his/her payout shall be delayed until the next payment date and added to the total accrued sum.
Appears in 2 contracts
Sources: Service Agreement, Service Agreement