Accounting Policy

You expressly agree and acknowledge that the terms and conditions contained in this Accounting Policy are incorporated within the DigitalBin Client Contract and you expressly acknowledge that you have read this Accounting Policy and agree to comply with and be bound by all of its terms and conditions as a requirement of creating and maintaining an account with DigitalBin. If at any time you do not agree with any part of this Accounting Policy, you agree that your sole remedy is to cease any further use of the DigitalBin Services and terminate your account, in which case You agree that any activity that transpired prior to the date of such termination shall be governed in full by this Accounting Policy.

NOTE: All references to amounts and use of the "RM" sign refer to amounts in Ringgit Malaysia.

Payment Method and Payment Frequency

DigitalBin offers bank transfer and Wire transfer as payment methods for clients to receive their funds. Accounts receiving direct deposit and wire payments (Malaysia or International) are eligible for once per week or once per two-week payments.

Pay Period End Time

Pay period end times and payment send dates are dependent upon your selected Payment Frequency. For accounts receiving payments weekly, pay periods end at 12:00:00 a.m. Malaysia time every Wednesday. For accounts receiving payments once every two weeks, pay periods end at 12:00:00 a.m. Malaysia time every other Wednesday. Changes to your selected Payment Frequency will go into effect in accordance with the Payment Change Deadline.

Changing your Payment Frequency from once per week to once every two weeks (or vice-versa) may result in overlap between pay periods and the amount settled. Due to the overlap the first pay period on your new schedule could be longer or shorter than standard. In the case of overlap, DigitalBin always settles your open sales since your last pay period ended.

Payment Distribution

Payments are distributed to clients two days after period-end.

Bank Transfer (Malaysia)

DigitalBin offers bank transfer of your DigitalBin account payment to Malaysian bank accounts. This is the fastest and easiest way to receive your funds. Direct deposits may take 1-2 business days to reach your account.

Wire Transfer (International)

DigitalBin offers wire transfer payments of your DigitalBin account payments into certain international bank accounts. Wire transfer payments offers a fast and reliable method for direct deposit of your account payments in your local currency. All wire transfer fees to be borne by you.

DigitalBin may charge a nominal percentage above its competitive, negotiated currency conversion rates. This amount represents a portion of the difference between the wholesale exchange rate we are able to obtain and the available spot rate on the day at or near your payment date.

Once sent, wire transfer payments generally take only a few days to reach your account, depending on what country your account is in.

Payment Change Deadlines

All changes to payment details, including address or payee changes, and changes between payment methods, must be made prior to the payment period end date.

Payment Threshold

The "Payment Threshold" is a predetermined minimum amount of money you must have in your account before we generate a payment. You may select an amount from RM50 to RM1,000,000 as your Payment Threshold amount. The default setting is RM100. Wires must be in an amount of at least RM50. A RM2.50 processing charge is assessed against each payment we issue. To change your Payment Threshold, signin to your account and select the "Settings" tab. Click "Edit" to the right of the "Payment Information" section. Select the "Payment Threshold" of your choice, and click the "Save Changes" button.

Returned Bank Transfers and Wires

Payments that are sent via direct deposit and wire that are returned to us due to invalid banking information are re-sent to you via check. Additionally, your account payment method will be switched to check until you provide accurate banking information. You may contact DigitalBin Accounting to inquire about the details of your returned direct deposits. Please send your request through our Account Questions form with the period ending date, the amount, and your nickname. A RM20 reprocessing fee is charged on returned bank transfers and wires.

Retail & Wholesale Pricing

Products sold through DigitalBin have a retail and wholesale price. Sellers recommend a suggested retail price for their products (within limits defined by DigitalBin) during products creation. DigitalBin also defines the maximum price for a product when a seller submits the product for approval. Once DigitalBin reviews the suggested retail price from the seller, the final retail price is set (please refer to the Client Contract for more information).

At the time of purchase by a customer, DigitalBin purchases the product from the applicable seller at a wholesale price, which can vary by product type, price, and currency, and resells the product to the customer.

If an Affiliate generated the sale, the wholesale price is automatically split between the seller and affiliate according to the commission percentage set by the seller. Amounts are credited to the seller and affiliate at the time of sale. In cost per action functionality (CPA), DigitalBin may provide "profitability" metrics for the seller's convenience. These are based on seller's participation in adding cost of goods sold (COGs) to their products. If the seller does NOT do this, the profitability metrics are only a reflection of sales

Currencies

If a seller chooses to sell a Product in a currency other than U.S. dollars, an exchange rate is used to convert the purchase amount to Malaysian Ringgit.

DigitalBin processes sales in the following currencies:

ARS - Argentinean Peso

AUD - Australian Dollar

BRL - Brazilian Real

CAD - Canadian Dollar

CHF - Swiss Franc

CLP - Chilean Peso

CNY - Chinese Yuan

COP - Columbian Peso

CZK - Czech Koruna

DKK - Danish Krone

EUR - Euro

GBP - British Pound

HKD - Hong Kong Dollar

HUF - Hungarian Forint

IDR - Indonesian Rupiah

INR - Indian Rupee

JPY - Japanese Yen

KRW - South Korean Won

MXN - Mexican Peso

MYR - Malaysian Ringgit

NOK - Norwegian Kroner

NZD - New Zealand Dollar

PHP - Philippines Peso

PLN - Polish Zloty

RUB - Russian Ruble

SEK - Swedish Krona

SGD - Singapore Dollar

THB - Thai Baht

TRY - Turkish Lira

USD - US Dollar

ZAR - South African Rand

All transactions are applied to your account in Ringgit Malaysia. For products priced in Ringgit Malaysia, the amount applied to your account will always be based on the Ringgit Malaysia price - the currency the customer chooses to purchase in does not affect the Ringgit Malaysia amount applied to your account. For products priced in a currency other than Ringgit Malaysia, transactions are converted to Ringgit Malaysia and applied to your account using an exchange rate acquired by DigitalBin in conjunction with our foreign currency partners at the time of the purchase. This exchange rate is updated once per day. Returns and revokes utilize the same exchange rate that was associated with the original purchase. DigitalBin's determination of exchange rates is final.

Returned Sales

As part of our commitment to quality customer service and satisfaction, DigitalBin may approve a return in accordance with our Return and Cancellation Policy. When a sale is returned the customer receives a 100% refund and payouts from that sale are debited back out of the corresponding seller and Affiliate accounts. Product returns are evidence of customer dissatisfaction with product quality or lack of support and DigitalBin wants to encourage sellers to identify and fix any problems to minimize the number of returned sales. In addition, DigitalBin incurs direct processing costs and other costs in connection with returned sales. Therefore, DigitalBin assesses the following return fees: $1.00 for each returned sale where the product price plus shipping equals or exceeds $10.00; $0.50 for each returned sale where the product price plus shipping is less than $10.00. This fee is assessed only on returned initial sales and not on upsells, rebills, or other partial returns. This fee also is not assessed on returns processed on the same calendar date as the sale. Sellers that maintain a refund rate in excess of 20% may also be subject to DigitalBin retaining its transaction processing margin (as discussed in Retail & Wholesale Pricing above), and may be subject to additional fees.

Refunds and chargebacks may also result in a negative balance in your account. If your account experiences a negative balance for any reason, DigitalBin may withdraw funds from any other accounts you control, may seize any available funds to cover the deficiency, and/or may invoice you for the deficiency. All of these remedies are in addition to DigitalBin's other rights under the DigitalBin Client Contract, which are fully reserved.

Charged Back Sales

A purchase is "charged back" when a customer disputes a charge through their bank or credit provider, usually because the customer claims that the purchase was unfunded, unauthorized, or fraudulent. Chargebacks cost DigitalBin money and harm its valuable reputation as a reliable Internet retailer. When a seller is the subject of a chargeback, the seller is assessed a fee based on the chargeback rate of the seller account. The chargeback fee assessed to the seller is:

$22 if the account's chargeback rate is less than 1.0%.

$29 + DigitalBin's margin if the account's chargeback rate is between 1.0%-1.49%.

$49 + DigitalBin's margin if the account's chargeback rate is greater than 1.5%.

Overall, sales processed by DigitalBin traditionally have a chargeback rate of less than 1%, which is quite low for an internet retailer.

DigitalBin may, in its sole discretion, dispute chargebacks by re-presenting the sale to the relevant card brand or payment provider. A successful representment that results in the reversal of a chargeback does not constitute a sale for purposes of this Accounting Policy or the DigitalBin Client Contract. DigitalBin reserves the right to keep the full amount recovered from any successfully re-presented transaction (in addition to any chargeback fee assessed pursuant to this section) and has no obligation to pay any amount to any seller or affiliate relating to the original sale or the successful representment.

As a seller, you can take a number of easy steps to prevent Returned and Charged Back Sales:

Use DigitalBin's Dynamic Billing Descriptor functionality which allows the use of 14 alphanumeric characters that will appear on the customer's credit card statement to describe your product. Example DGLBIN*yourproduct.

Remind the customer of the product descriptor they will see on their credit card statement either "DGLBIN*MY" or DGLBIN*yourproduct.

Make it very easy for customers to contact you for technical support. Prominently display your email address on the page so that they can write it down. If you have a business phone number, provide them with that too. Of course, you should respond to customers in a timely fashion and take every possible step to resolve any concerns and save the sale.

Add your customer service email address and customer service phone number (if you have one) within your DigitalBin account, as well, so that DigitalBin can refer customers back to you if they contact us directly.

Let customers know that Product is backed by DigitalBin's guarantee of quality customer service and that DigitalBin will be happy to help them if there is any problem with their purchase.

Return Allowance

DigitalBin withholds a fraction of the revenue earned during each pay period, which is released back to your account after 12 weeks (about 84 days). These funds are used to manage quality issues that may arise with Products you publish or promote, including delayed refunds or charged back sales. The standard return allowance is 10%. DigitalBin may adjust your return allowance at any time to better account for future returns based on account history.

Determination of Affiliate

The Affiliate (if any) associated with any DigitalBin sale is determined by an automated customer tracking system. Any decision made by this system is final and not subject to petition or appeal. Though we believe our tracking system to be more fair and accurate than any alternative, we make no representation regarding the ability of the system to track any specific customer, for any specific length of time.

Account Closure

You may close your account at any time. Any closing balance under RM10 will be forfeited. To close your account, please use the Account Questions form.

Customer Distribution Requirement

DigitalBin will withhold payment of any balance until an account shows a minimum of 5 sales using at least two of the following payment methods:

American Express

Carte Bleue

Diners Club

Discover

Maestro

MasterCard

PayPal

Visa

This requirement is in place to help prevent Affiliates from abusing the DigitalBin Affiliate program by using their accounts for the sole purpose of fraudulently collecting rebates and/or discounts on their own purchases.

Once you have met the Customer Distribution Requirement, your account will begin issuing payments normally, in accordance with our Accounting Policy, beginning on the next payment issuing date.

Dormant Accounts

Accounts with a positive balance but no earnings for an extended period of time are considered dormant. Dormant accounts are subject to a charge of $1 per pay period after 90 days of no earnings, RM5 per pay period after 180 days of no earnings, and RM50 per pay period after 365 days of no earnings. It is your responsibility to manage your account to prevent dormant fees. DigitalBin will not notify you when your account is dormant.

Legal Limitations

This document is not a warranty. For more details, please consult the DigitalBin Client Contract, which governs this Accounting Policy and of which this Accounting Policy is a fully incorporated part.