Faster Marketplace Installment Payouts for Creatives


#1

At this time, we will start paying the creative portion of domain installment payments on a monthly basis (instead of waiting for the entire installment term to complete) for all Marketplace domains enrolled in the installment plan program.

Installment plan payouts to Creatives will be added to your Account Balance within 5-10 days of the installment payment being received (unless additional payment verifications are needed - in which case it may take a bit longer).


#2

I am not sure if this was already answered, in case of winning a contest with marketplace domain, can CH decide to pay rest of the price in installments or he has to pay entire sum? And how is creative payed in that case? Full prize + the rest in installments?

For example, contest prize is $100, winning marketplace domain commission is $300, CH decides to buy marketplace domain and pay in installments. What is the payment dynamic to creative in this case?

It is a complex issue, I see why you are careful to implement it :slight_smile:


#3

Hello @grant!

This is great and I have already been a beneficiary of this improvement! :slight_smile:

Another thing I’m not sure has been suggested already, but I think it would be great is the possibility for the Creatives to see how many installments have been set once the domain is sold, and to be able to follow/view the further ongoing installment payments.

Thank you!


#4

@DNFront - Thank you for this idea. We will consider it as we continue to improve the platform.


#5

Yes. After a premium domain is selected by a CH as the winner of their contest, the CH can choose to move forward by paying in full or starting an installment agreement (as long as the Creative has marked the domain as approved for installment payments).

Here is the process we follow if a premium domain is selected as the winner of a contest and then purchased on installment:

  • The award amount is deposited in the Creative’s account.
  • Once, and if, commissions from the domain sale exceed the award amount, the Creative will start receiving standard installment commissions.

Here is an example: A Creative wins a $100 contest with a premium domain listed at $1,299 with 36% commission.

The $100 award is deposited into the Creative’s account.

The payment plan commissions are calculated per the standard formula: $1,299 domain x 36% commission = $467.64 total commission. Divided by 6 installments = $78 per installment payment. However, $100 has already been deposited to the Creative’s account, so the remaining installment plan commission amount is $367.64.

Here’s how the remaining commissions are distributed: Once the CH pays the 2nd installment, the creative will receive two commission payments ($156) minus $100 award amount that was already received ($56).

The third through sixth installment will each result in a $78 commission.