IKain Fees and Commissions
Fee Schedule for marketplace Transactions.
For services listed in the Marketplace, we compute transaction fees based on the following rules.
When a trade contract is established, the Provider's "Available balance" is deducted by 5% of the trade amount as a safety deposit. Meanwhile, a 100% of the trade amount is subtracted from the recipient' "Available balance" as a safety deposit.
If the Provider cancels a confirmed schedule, his virtual IKain Bank Account will be deducted by the 5% of the trade amount (i.e., the same amount as the safety deposit). Meanwhile, a 100% trade amount will be refunded to the Recipient's "Available balance".
If the Recipient cancels a confirmed schedule, his IKain Bank Account will be deducted 20% of the trade amount and the remaining 80% will be put back to his "Available balance". In other words, the Recipient pays a 20% penalty and gets 80% of the safety deposit back.
If a trade goes through successfully, the Provider can give a "feedback" immediately following the completion of the service. He can choose to give a discount at this stage. If the Provider offers a discount, the service will be charged at the discounted rate.
If the Provider does not give a discount, the trade will be closed with the initial contract amount. This transaction will be closed in 7 days. Here are the final steps in closing this transaction:
(1) The Provider’s safety deposit is refunded to his “Available Balance”.
(2) 100% of the service fee will be deducted from the Recipient's account.
(3) The Provider is paid 80% of the service fee.
(4) IKain will keep the rest 20% of the service fee.
Licensing IKain VOffice
Every IKain user is entitled to a free web-based IKain VOffice. You will need to pay for additional IKain VOffice. IKain will charge you an annual license fee. Following is our fee schedule:
1. Pay by Chinese Yuan (RMB).
A single VOffice: ¥1,100.00/yr.
5 VOffices: ¥3,300.00/yr.
10 VOffices: ¥5,500.00/yr.
50 VOffices: ¥22,000.00/yr.
1,000 VOffices: ¥275,000/yr
2. Pay by US Dollar.
A single VOffice: $220.00／yr.
5 VOffices: $800.00/yr.
10 VOffices: $1,100,00/yr.
50 VOffices: $4,400.00/yr.
1,000 VOffices: $50,000,00/yr.
If you want quotes for VOffices in other quantities, please contact IKain sales at sales@ikain.com.
