Last Update Last Update October 13, 2016 , effective August 1, 2016
"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 any refunds paid, applicable sales or other taxes (VAT in EU), and any amounts paid in connection with Marketing Programs that You participate in.
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. You will jointly develop this course with Experfy and give exclusivity to Experfy for its sale and distribution in perpetuity. This means that the same Course materials will not be sold or distributed through another platform or website. 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.
Experfy will pay You fifty percent (50%) of the Net Amount received for Your Course. 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).
You authorize the Company to perform the appropriate calculations, deduct and retain the transaction fee, and pay You the Net Amount as indicated above.
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 or PayPal. 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.
Should there be demand for Your course(s) as a live instructor-led course or an on-site course, and You decline to teach it live or onsite, You would allow Experfy to freely use the curriculum for Your course to be taught by a different instructor. This is important to maintain consistency so that all courses will the same subject matter are taught using the same curriculum. Under no circumstances will Experfy share Your video-based course content with enrolled students without compensation to You.
Should Experfy send You for training with a technology partner to learn about a technology or topic, You agree that you will teach that course on-site, self-paced or instructor-led only through Experfy.
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, 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.