FUNDING FOR THE FOOD SYSTEM (FFTFS) – FEE AND PAYMENT TERMS
These Fee and Payment Terms (“these Terms”) are concluded pursuant to the FFTFS Website Terms and Conditions (“the Terms and Conditions”) and, save where expressly provided to the contrary in these Terms, shall be subject to the Terms and Conditions, including the definitions and rules of interpretation contained in the Terms and Conditions, which are incorporated in these Terms by this reference.
- DEFINITIONS AND INTERPRETATION
For purposes of these Terms, the following terms shall have the following meanings –
2.1.1. “Effective Date” means the date of acceptance of these Terms by the Organisation;
2.1.2. “Organisation” means the charity organisation, non-profit organisation, group, company or individual that has entered into this agreement and registered a Campaign Account on the Crowdfunding Platform; and
- “Parties” means FFTFS and the Organisation collectively and “Party” means either one of them individually, as the context requires;
- FFTFS has developed or obtained the rights to provide the Crowdfunding Platform. FFTFS makes the Crowdfunding Platform available in an application service provider environment through which it provides the hosting services, including the administration and maintenance of the Crowdfunding Platform, and other related services. The provision of such hosting services enables Organisations to access the Crowdfunding Platform and thereby make use of the Platform Services while simultaneously enabling Donors to donate to their chosen cause by means of payment gateways integrated into the Crowdfunding Platform.
- The Organisation wishes to make use of the Platform Services offered by FFTFS in order to make the Crowdfunding Platform available to its Donors’.
- These Terms record the specific terms governing fees and payment for the provision of the Platform Services.
These Terms shall commence on the Effective Date and shall continue until the termination date of the campaign.
- The Organisation agrees that FFTFS uses a payment gateway account with PayFast to be integrated into the Organisation’s Campaign Account by means of the Crowdfunding Platform.
- By creating a Campaign Account with FFTFS, an Organisation appoints FFTFS as its agent to process donations on its behalf in accordance with its instructions, subject to the restrictions imposed by the Terms and Conditions and these Terms.
- FFTFS will at all times hold donations in the PayFast account and will not use any funds for its operating expenses or any other purpose.
- The Organisation has the option to be paid weekly on a day specified by the platform or at the end of the campaign.
- FFTFS charges organisations an administration fee of 4% fee all campaign donations.
- Each donation incurs a transaction fee from the payment gateways Payfast or Paypal.
- Payfast transaction fees are – Cards: 2.5% + R2,00; EFT: 1.25% ; Payout: R5
- Paypal fees vary depending on the currency of the donation as donations need to be converted, and exchange rates on the day of conversion cannot be guaranteed.
- Paypal donations take 5 – 7 days to be transferred and result in a lag between the donation and weekly payouts.
- To keep our fees as low as possible for campaign organisers, FFTFS gives donors the option to contribute 3% with every donation. Fees to FFTFS cover the cost of the services we provide, including campaign set-up support, content vetting, promotion strategy and guidance, post-campaign administration, database collation, reporting, and tracking of campaigns. FFTFS is deeply invested in food system reform and goes the extra mile offering more support support to campaigns achieve a shared reinvented food system vision.
- FFTFS charges its fees before transferring funds into the Organisation’s account. FFTFS will subtract fees, taxes, banking charges and charges due to PayFast before transmitting the proceeds of a campaign to the Organisation.
- The fees exclude all taxes (including value-added tax and other taxes levied in any jurisdiction, but excluding taxes based on the income of FFTFS), duties (including stamp duties), tariffs, rates, levies and other governmental charges or expenses payable in respect of the Services, all of which shall be payable by the Organisation in addition to the Fees.