Last updated Jan 14, 2022
AGREEMENT TO TERMS
MagCast (on behalf of Media in Motion LLC ("Company")) grants a revocable license to MagCast licensees ("User") for a single magazine application ("App") for promotion and sale via its wholly owned website MagsFast.com (MagsFast).
User must hold a valid MagCast license to participate in sales and promotions via MagsFast.
Although not mandatory, promotion, sale, and distribution of your MagCast magazine content via MagsFast is recommended for all MagCast publishers.
User assumes all responsibility for accuracy of pricing, promotions, content, links, and all other aspects of their MagsFast listing.
Company is repsonsible for capturing payment information from prospective readers and for processing their payments.
Successful payments will result in the buyer receiving access to User's magazine content on up to five devices or via the MagsFast Web Reader.
Any claims of fraud by a reader are taken with highest seriousness.
Should a reader make a claim of fraud, we will investigate it with full rigor.
Should their claim, at MagsFast sole discretion, be deemed valid, MagsFast will issue an immediate refund.
Should their claim, at MagsFast sole discretion, be deemded invalid or spurious, MagsFast will take appropriate steps to resolve the dispute with the reader and appropriate payment processors.
Should MagsFast be unable to resolve the dispute, the dispute will then require resolution by the appropriate payment authority, i.e. PayPal, Stripe, etc.
User Payments to MagsFast and MagsFast Payments to User
User shall be paid 85% of their magazine's gross receipts as received by MagsFast.
For new sales User shall be paid on the 20th of the following month for sales made during the prior calendar month.
For recurring sales (i.e. subscriptions), User shall be paid on the 50th day after a subscription renews to allow for refunds, chargebacks, and other disputes by renewing readers.
For both new and recurring sales, if Company deems refunds, chargebacks, or other claims for remuneration or compensation from readers higher than normal, Company may at its sole discretion elect to withhold payment to publisher for up to an additional 30 days.
In the event User leaves the platform, Company may at its sole discretion withhold up to 20% of revenue generated via MagsFast.com for a period of up to 14 months to cover refunds, chargebacks, merchant dispute fees, and other claims by readers ("Claims").
After the 14 months have lapsed, Company shall issue full payment for any funds remaining after Claims.
Minimum earnings for payment are $100. Company may in its sole discretion elect to pay a publisher irrespective of the minimum or upon User's request for payment.
User agrees to pay any payment processing fees levied by payment services when Company transmits earnings to User.
If User is paid via PayPal, User agrees to pay any associated PayPal fees. If User is paid via Wise, User agrees to pay a fee of $5 or actual processing fees, whichever is greater.
Should readers refund their purchases or initiate chargeback proceedings (or similar) with the MagsFast payment processor(s), it shall be at Company's sole discretion as to whether to issue the refund, remedy the reader's problem, or to make other accommodations with the reader.
Should User in MagsFast's sole discretion accumulate an excessive number of refunds, chargebacks, or other complaints, MagsFast reserves the right to withhold payments due to User for up to 180 days to ensure reader refunds can be accommodated.
Any purchases being disputed with MagsFast or the relevant payment processor may be withheld at MagsFast sole discretion until fully resolved.
If payment for User's account with MagCast has lapsed or fallen behind, MagsFast may, in its sole discretion, withhold payments of MagsFast earnings to User until User's MagCast account is current.
User is responsible for providing support to their readers.
User may at their discretion offer promotions via MagsFast ranging from 1-100% off.
Should a reader use one of User's discounts / promotions, User is paid on Gross Receipts (i.e. the actual purchase price) not on the magazine's MSRP.
Reader Contact Information
If User wishes to receive their readers' contact information in realtime, an account at Drip.com is required wherein User grants MagsFast requisite permissions to write/read data to/from their Drip account.
If User wishes to receive their readers' contact information once daily, MagsFast will email to User once daily a report of new readers' purchases.
User is responsible for adhering to ALL laws and regulations, regardless of their or their readers domicile or nexus, in contacting their readers.
User agrees to indemnify Company owners, officers, staff, employees, contractors, and affiliates from any damages resulting from MagsFast's or Users' use of reader email information, intentional or otherwise, when contacting readers.
User agrees to respect ALL reader requests to unsubscribe from their mailing lists and to adhere to any specific laws pertaining to their handling of reader data.