Effective Date: 8/1/2018
Last updated: 8/1/2018
This Fee and ACH Authorization Agreement (this “Fee Agreement”) provides information on the fees frolyk inc. (“frolyk”) charges for use of the Site’s communication, invoicing, dispute resolution and payment services, and includes eligible Hosts authorization for debits and credits from and to their designated bank accounts via the automated clearing house network (“ACH”). This Fee Agreement is incorporated by reference into the Terms of Service (“Terms of Service”). Capitalized terms not defined in this Fee Agreement are defined in the User Agreement, elsewhere in the Terms of Service, or have the meanings given such terms on the Site.
To the extent permitted by applicable law and except as otherwise provided in the Terms of Service, we may modify this Agreement without prior notice to you, and any revisions to this Agreement will take effect when posted on the Site unless otherwise stated. Please check the Site often for updates.
1. SERVICE FEES CHARGED TO HOSTS
Pursuant to the User Agreement, frolyk charges Hosts a Service Fee for each Experience, event or Host Services booking. Where applicable, frolyk may also collect taxes such as value added tax (VAT) in Europe on Service Fees.
frolyk will charge Hosts a Service Fee of 15% of the Experience which can be adjusted at frolyk’s discretion.
If experience bookings are cancelled by Host, frolyk may charge an administration fee of 5% associated with the refund to Guest.
2. AUTHORIZATION FOR HOST ACH DEBITS AND CREDITS
frolyk will pay Host Fees and other fees under the Terms of Service from frolyk’s account to Hosts designated bank account. Subject to frolyk’s eligibility requirements, if a Host elects to get paid Host Fees and other fees under the Terms of Service via ACH transfers to the Host’s designated bank account, Host hereby authorizes frolyk to electronically credit and, if necessary, electronically debit the designated bank account via ACH for such fees pursuant to the Terms of Service, and Host agrees to comply with the ACH rules issued by the National Automated Clearing House (“NACHA”) and all applicable laws, including, but not limited to, the federal Bank Secrecy Act, the U.S.A. Patriot Act, and economic sanctions overseen by the Office of Foreign Assets Control (OFAC). Host authorization for ACH transfers contained in this Section 3 will remain in full force and effect until Host notifies us that Host wishes to revoke authorization by removing bank account information from Host Profile or by contacting Customer Support. Host understands that we require at least one (1) business day’s prior notice in order to cancel an authorization for ACH transfers contained in this Section 3.
Host must notify us of any change in designated bank account’s information at least five (5) business days before any such change by updating Host bank account information in Host Profile or by contacting Customer Support. If we do not receive notice at least five (5) days before any such change, we may attempt, in our sole discretion, to implement such change prior to any ACH debit or credit transfer performed pursuant to Host authorization provided in this Section 3. However, we assume no responsibility for our failure to do so.
Host may view a history of Account transactions by logging in to the Site. Host is solely responsible for promptly reconciling their Account transaction history with the transaction records for Host bank account. Host must notify us of any errors or discrepancies in Host Account transaction history (each, an “Error”) within 30 days of when the Error could be viewed in Host Account transaction history on the Site. If Host does not notify us of an Error within 30 days of when the Error could be viewed in Host Account transaction history on the Site, Host will forfeit the right to contest the Error, except to the extent such forfeiture is prohibited by applicable law or the NACHA rules.
Subject to the foregoing notice requirement: (a) if and to the extent an Error is caused by us, we will correct the Error and (b) if an Error is caused by hosts, we may, but are under no obligation to, attempt to correct the Error and will offset any costs we incur from any funds returned to Host bank account.