Last Update Last Update October 13, 2017 , effective December 22, 2017
- "Base Price" means the price at which the course is advertised.
- "Base Currency" means the currency of the Base Price.
- "Base Exchange Rate" means a system-wide rate used by the Company for foreign currency conversion and does not include any fee or mark-up by the Company. The rate is established using one or more third parties such as Open Exchange Rates and is fixed periodically (e.g. monthly) to prevent daily price fluctuations. Accordingly, the Base Exchange Rate may not be identical to the applicable market rate in effect at the specific time a foreign currency conversion is processed.
- "Sale Price" means the actual sale price for the Course. When the Sale Currency is different from the Base Currency, the Company will determine the Sale Price based on the applicable Base Exchange Rate and Cost Adjustment Factor.
- "Sale Currency" means the currency of the sale. This is determined by the country of origin of the User purchasing the Course.
- "Cost Adjustment Factor" means applicable local taxes and other fees associated with currency conversions. In regions that use a common currency, e.g., the EU, the Cost Adjustment Factor uses a weighted average of country specific tax rates to ensure the same prices to end customers across the region.
- "Net Amount" means the amount actually received from Students for Your Course, less refunds paid, credit card processing fees, discounts, and applicable sales or other taxes (if any), and any amounts paid in connection with Marketing Programs that You participate in.
License to Experfy
You will jointly develop this course with Experfy and give exclusivity to Experfy for its sale and distribution in perpetuity. You hereby grant Experfy the right and license to reproduce, distribute, publicly perform, offer, market and otherwise use and exploit the Submitted Content through the Experfy platform, and sublicense it to Users for these purposes directly or through third parties.
You hereby grant Experfy permission to use Your name, likeness, image or voice in connection with offering, delivering, marketing, promoting, demonstrating, and selling the Platform offerings and courses.
Depending on the market segment, Experfy will be responsible for determining the Base Price charged to Students for Your Courses and the appropriate marketing channels. The Company will handle billing and other fee interaction with Users. When the Sale Currency is different than the Base Currency, Experfy will determine the Sale Price according to the most recent Base Exchange Rate and applicable Cost Adjustment Factor.
Courses Sold Individually
Experfy will pay You fifty percent (50%) of the Net Amount received for Your Course that are sold individually and within a Certification Track that charges a one-time fee. The Net Amount equals the amount actually received from Students for Your Course, less any refunds paid, credit card processing fees, discounts, and applicable sales or other taxes (if any). The Net Amount will typically be based on the Base Price, but Company reserves the right to increase or decrease the Base Price in connection with the Company's marketing and promotional efforts (including through Marketing Programs).
Courses Sold Within a Subscription Package
When Experfy sells a monthly or an annual subscription package in which your course is included, your share of the revenue will be determined by a formula that takes into account three variables: (1) course price; (2) number of minutes watched, and (3) the percentage of revenue split between You and Experfy.
For, both, courses sold individually or within a subscription package, You authorize the Company to perform the appropriate calculations, and pay You your share of the Net Amount as indicated above.
Courses Sold Through Experfy’s iOS App
In the case of Courses offered on Experfy’s iOS application, Experfy will select the Apple App Store price tier (from the App Store Pricing Matrix available at http://www.equinux.com/us/appdevelopers/pricematrix.html) that is closest to the Base Price of the course.
Instructor Perks and Marketing
As a perk, Experfy may give free access to Courses to select instructors who publish their Courses on the Experfy training platform.
Experfy’s marketing team may choose to showcase a small number of videos from Your Course on YouTube and other sites for free to promote Your Course.
Experfy may also provide free access to a limited number of users who agree to review Your course.
Experfy may, at its sole discretion, cease the marketing and distribution of any Course. During such a circumstance, the Instructors will receive the Net Amount from all payments due and any Users who have paid for the Course may continue to have access to all Course materials, unless the Course violates any copyright laws.
Payment to Instructors
Users are entitled to refunds pursuant to Our general Terms of Service and You agree that Company may deduct such refunds from subsequent amounts owed to You. Company will issue remit to You any amounts remaining after the foregoing deductions and adjustments, in US dollars, via Stripe, check, PayPal, or other means deemed appropriate by Experfy. Payment will be made within thirty (30) days of the end of the month in which the fee for a Course was received. You are responsible for providing Company with all identifying and tax information necessary for the payment of amounts due.