Towards platform promotion, PeerSpot offers a very unique and interesting Member Referral Program. This Program is offers an opportunity to earn Referral Rewards to PeerSpot Members upon referring an Individual (not enrolled on PeerSpot platform) to join PeerSpot, and engaging him / her to make the best use of the platform.
This document details the Program modalities.
Account Reconciliation Period: Time within which the Member's Account will be reconciled with reference to the Payment made to PeerSpot or the Payment Received from PeerSpot, on account of the services availed or offered or promoted.
Active Member: A member is said to be Active, if he/she has linked their bank account in Profile settings.he/she signs-up at least once in 12 months
Engaged Member: A member is said to be Engaged, if he/she has not “Unsubscribed” the PeerSpot Newsletters
he/she posts relevant feedback after each of the meetings, if any, be it as a Seeker or as a Provider
Inactive Member: A member who is not active, is termed as an Inactive Member.
Member: Any person who enrolls on PeerSpot, by opening an account on the Website / Mobile App of PeerSpot is termed as a Member or Existing Member.
Non-compliance to Terms and Condition (T&C): Not agreeing to comply with any of the PeerSpot Policies or Agreement will be treated as "Non-Compliance to the Terms and Condition". A Member must agree to all the T&C at Sign-up and shall be willing to comply to any subsequent changes to the T&C that are mare by PeerSpot from time to time.
Payment Gateway Charges: The Payment Gateway service provider charges for their services towards unification of the digital payment. Such charges are to be paid by the Seeker, in addition to the Provider Fees and PeerSpot Commission. Such charges would be shown inclusive of all applicable taxes.
Payment Disbursement Period: Period during which PeerSpot would release the payable amount to the Provider (against the Provider Fees received from the Seeker), and payment amount to the Referee (against the Referral Rewards received on account of earning by the Referred Member as a Provider).
Referral Code: It's a unique alphanumeric code, autogenerated by PeerSpot once the user profile is created. Member may this referral code for inviting people to PeerSpot. A member will require to use the same code to earn referral rewards under the Program
Referee: An individual who invites a person to join PeerSpot, by offering her/his Referral Code.
Referred: An individual whom a PeerSpot member invites to join PeerSpot using her/his Referral Code.
Referral Rewards: The monetary amount a Referee earns as per the eligibility criteria and Referral Reward percentage defined. Such Referral Rewards will be paid to the referee, out of the Commission PeerSpot charges, which the Referee would earn when the Referred will be paid by a Seeker, under the defined terms.
Rules of the Meeting: A Policy, defining the Rules and Regulations governing the Meeting between the Provider and the Seeker.
Seeker: A member who approaches another member for a meeting. The Seeker pays to the Provider.
Unengaged Member: A member who is not engaged is termed as an Unengaged Member.
User Agreement: The document termed as "User Agreement" as charted by PeerSpot.
To join the Referral Program, one must agree to the Terms and Conditions of PeerSpot, while signing up.
Once opened an account, the Member will have an option to add/edit/delete the Profile field details. On the Profile page, a unique and autogenerated alpha-numeric code will be shown. This would be the "Referral Code". On the same Profile page, also there will be an option to enter the Referral Code - in case the Member is referred by a Referee, such Member may enter the Referral Code of the Referee. As and when the Referral Code will be used by different Referred Members, the Referee will be notified.
Eligibility to earn lifetime referral reward:
To become eligible to earn lifetime Referral Reward, the PeerSpot Member will require to share his/her Referral Code with the Referred Member. In such case, the Referee can be eligible to earn the Referral Rewards when the Referred Member enters the Referral Code given by the Referee, in the profile or while signing up. Thus, once signed up, the Referral Code and name of the Referee will be visible to the Referred Member in the profile. Similarly, the Member will be able to see a list of all the Referred Members.
Only the Active and Engaged Member will be eligible for the Referral Reward.
In the profile, the referee will be able to see a list of all his/her referral members, along with their status (Active/Inactive and Engaged/Unengaged). Only the Active and Engaged Member, at the time of Transaction experienced by the Referred Member, will be eligible for the Referral Reward.
Referral Reward earning:
The Referee, who Referred the new PeerSpot member, will earn when
The Referred Member has entered the Referral Code given by the Referee while signing up or post-sign-up (in the Profile)
The Referred Member earns as a “Provider”
The Referee has linked his/her bank account with PeerSpot (option for the same is given in the Profile Settings).
Every time a Referred earns as a Provider, and PeerSpot earns, the Referee will earn Referral Reward. Such Referral Reward is a pre-defined percentage of the PeerSpot Commission. PeerSpot reserves the right to change the PeerSpot Commission as well as the Referral Reward Percentage, any point in time, without giving any notice to the PeerSpot Members. However, the PeerSpot Commission Percentage and the Referral Reward Percentage would be applied uniformly to all the Members.
The PeerSpot Member can refer to as many individuals as one can. Any point in time, an individual can enter only one referral code either while signing up or post signing up. And once the code entered - it cannot be changed/altered.
PeerSpot would reconcile the Referral Rewards earned by the Referee and will show them in the profile. Payment towards the Referral Rewards earned would be disbursed to the Referee's bank account directly at a pre-defined interval - Payment Disbursement Period.
While making any payment to the Members (towards Referral Rewards or Provider Fees), PeerSpot would adhere to the applicable Government rules and regulations for taxation and deduction.
Updates or amendments in the Program:
PeerSpot reserves the right to bring any kind of changes to the Program, any point in time, without any notification to the Members.
Any point in time, without giving notice to the Members, PeerSpot reserves the right to change the Referral Rewards Percentage offered as a percentage of PeerSpot Commission without giving any reason or justification.
PeerSpot reserves the right to amend the account reconciliation period, and payment disbursement period any point in time, without giving any notice to the PeerSpot Members.
Referral Program termination:
PeerSpot may suspend or terminate the Referral Program any point in time, or even can suspend the Member’s eligibility to participate in the Program at any point in time without giving any reason.
PeerSpot reserves the rights to suspend or terminate the Referral Rewards if PeerSpot notices/finds involvement of the PeerSpot Member to any abusive conversation, fraudulent activities, illegal activities/trade or violation of PeerSpot Terms and Conditions. PeerSpot reserves the right to review and investigate all the referral activities and transactions.
Though not committed, PeerSpot would announce below from time-to-time, keeping the Members aware about the payment related modalities:
PeerSpot Commission - % of the “Provider Charges”
Referral Reward - % of PeerSpot Commission
Referral Reward Disbursement Period - ‘n’the day of the next month
Payment Disbursement Period - ‘n’the day of the next month
In point in time, without giving a prior notice, PeerSpot may change above, and bring them effective to the business operations at its own will.
Sunita is a PeerSpot Member. And her referral code is Sunita@12.
Now Sunita invites Amar to join PeerSpot and asks Amar (a professor of History) to enter the Referral Code as “Sunita@12” while signing up. Unless Amar does not enter the Referral Code, Sunita will not be eligible to receive the Referral Rewards under the Program.
On the contrary, if Amar enters the referral code as given by Sunita either while signing up or in profile settings, the following would apply:
Let's assume Amar charges Rs. 1,000/- per hour as a “Provider”
Let's assume PeerSpot charges 15% as a Facilitation Charge (i.e. Rs. 150/- in this case)
PeerSpot Referral Program offers 20% Referral Reward to Sunita
PeerSpot disburses the referral reward by 10th of the next month of meeting completion
Now, suppose Poonam (a Ph. D. pursuant in the Middle East & African Studies) requests Amar for a meeting, to discuss on her thesis.The following would be the sequence of events:
Amar confirms the Meeting Request of Poonam Poonam makes applicable payment (of Rs. 1,000/- + Rs. 150/- + applicable taxes + payment gateway charges)
Upon payment clearance, the Chat Option gets enabled connecting Poonam with Amar
Amar gets a notification about payment clearance from Poonam
Poonam requests for meeting on a mutually suitable date, time & venue on PeerSpot, in response to which Amar confirms
Amar and Poonam meet at the mutually decided date, time and venue
Once the meeting gets completed, following transactions take place:
Amar receives Rs. 1,000/-, after deducting TDS (as may be applicable)
PeerSpot receives Rs. 150/- as Commission + Payment Gateway charges + Applicable Taxes
Out of the Commission Payment received, PeerSpot would pay 20% (i.e. Rs. 30/-) to Sunita, after deducting TDS (as may be applicable)
This is how Sunita will earn the Referral Rewards. Sunita will be eligible for her payment, as long as she remains an Active and Engaged PeerSpot Member.