Payments, Settlement, Reserves, Refunds and Chargebacks

1. Working financial model

Ticket payments must be processed through an authorized payment service provider using a marketplace structure, connected accounts, or another legally confirmed mechanism. The platform does not receive all organizers' funds in its current account for manual redistribution.

The PSP provider, exact flow of funds, and legal capacity of each party are [TO BE COMPLETED AFTER THE PSP AGREEMENT IS SIGNED].

2. Activation of the organizer's payment account

• The organizer provides the KYB and beneficial ownership information required by the PSP.
• The IBAN and connected account must belong to the contracting entity or a structure approved in writing.
• Sales may remain blocked until PSP approval, remediation of restrictions, and refund testing.
• The organizer keeps its information current and responds promptly to reverification requests.
• Rejection or suspension by the PSP may result in suspension of sales and settlement.

3. Parameters to be established in the financial schedule

• The platform commission, calculation basis, VAT, and timing of invoicing.
• PSP and dispute costs and the party responsible for them.
• The T+N or post-event schedule, installments, thresholds, and suspension conditions.
• The reserve percentage and duration, risk criteria, and release conditions.
• Currency, settlement account, and treatment of currency conversion.
• Rules governing refunds, chargebacks, negative balances, set-off, and recovery.

4. Settlement and reconciliation

Settlement is not marked final before reconciliation. The organizer reviews the report and disputes discrepancies within the contractual period.

1. Eligible orders are reconciled with PSP transactions and issued tickets.
2. Refunds, chargebacks, dispute fees, commissions, and contractual reserves are deducted.
3. Invoices, credit notes, anomalies, and any legal holds are reviewed.
4. The PSP settles the net amount according to the approved schedule.
5. The final report identifies the gross amount, deductions, released reserve, and transfer identifier.

5. Reserve and settlement suspension

The reserve must be proportionate, transparent, and applied without discrimination. It may take account of a new organizer, high volume, cancellation history, an uncertain venue, incomplete documents, a long period before the event, a request for advance payment, and the dispute rate.

The platform and PSP may increase or extend the reserve only in accordance with the agreement and a documented assessment. The criteria, notice, challenge, and release provisions are [TO BE COMPLETED].

6. Approval and funding of refunds

• The organizer approves the policy for each event and fully funds refunds that are due.
• The platform performs the technical operation within the limits of its mandate, and the PSP returns the amount to the original payment instrument where possible.
• The absence of a 14-day right of withdrawal for certain services supplied on a specific date does not justify retaining money where the event is not provided.
• A full, partial, or voluntary refund must have its reason, author, amount, ticket, and status recorded in the audit trail.
• Fees and costs not returned by the PSP are allocated in accordance with the agreement, without affecting the buyer's mandatory rights.

7. Cancellation, postponement, and material changes

1. The organizer submits the signed form, a reason suitable for communication, and the financial instruction.
2. The platform suspends sales and settlement and calculates the exposure.
3. Available funds and any shortfall are confirmed.
4. The message, refund window, and treatment of tickets are approved.
5. Customers are informed through available channels, and refunds are processed and reconciled.
6. Tax documents, reports, and the incident file are updated.

8. Chargebacks, disputes, and negative balances

• The cost attributable to the event is allocated to the organizer in accordance with the agreement and evidence.
• The organizer promptly provides the policy, evidence that information was given, the ticket, admission status, and relevant communications.
• The platform may administer the technical response and charge agreed PSP or administrative costs.
• A negative balance may be set off against future settlements, covered from the reserve, or claimed through an invoice or debit note, in accordance with the agreement.
• Post-settlement chargebacks and double recovery are tracked by organizer, event, and order.

9. Fraud and protective measures

• Sales, tickets, or settlement may be blocked temporarily due to indications of fraud, a compromised account, false documents, overselling, or unfunded exposure.
• PSP controls, rate limits, role-based checks, and audits of changes are used.
• The organizer cooperates, preserves evidence, and does not attempt processing outside the approved structure.
• The measure is reassessed after documents are received or the risk ends.

10. Taxation, invoicing, and records

Under the intermediary model, the organizer records admission revenue and its tax obligations, while the platform records commission revenue. The platform may calculate or report information but does not implicitly assume responsibility for reporting and paying the organizer's taxes.

The admission invoice, commission invoice, RO e-Factura, ticket series, local taxes, levies, and credit notes are configured following validation by the accountant. The electronic ticket is not automatically an invoice.