Terms and Conditions
I. GENERAL PROVISIONS
1. This Contract settles the relationship between Telematic Interactive Bulgaria, 7,Kukush str., Sofia, Bulgaria UIC 206568976, е-mail: support@palmsbet.com . Telematic Interactive Bulgaria is licensed by Bulgarian Gaming Comission with lisences: No:000030-7112/05.08.2022 for casino games, issued with Permission No:000030-6663/05.05.2022 by the National Revenue Agency; License №000030-4802/20.05.2022 for sports betting, issued with Permission №000030-4357/05.05.2022 by the National Revenue Agency. .!hereinafter referred to anywhere below the "Company" and those wishing to join the partner program, which will be hereinafter referred to anywhere below as "Affiliate/Affiliates"2. This Contract settles the relations between Palmsbet, herein after referred to as the “Company”, and the people willing to join the affiliate program who herein after will be referred to as “the Affiliate/Affiliates”. The affiliate program /”the Program”/ applies to all people willing to enter into a contract with the Company for actively attracting clients and popularizing the services offered by the Company by observing strictly the provisions of this Contract.
3. Application to join the Program is carried out by filling in and sending the application form /”the Application”/. The Application is filled in online on the following internet page of the Company: https://affiliates.palmsbet.com.
4. When filling in the Application and at any other time the Affiliate shall present the Company with complete and honest information about themselves, necessary for the relations between the parties. Upon changes in the presented information, the Affiliate shall notify the Company immediately and shall provide up-to-date information. By completing the Application, the Affiliate declares its agreement to enter into a contractual relationship with the Company.
5. Upon receipt of the accurately filled-in Application, the Company shall notify the applicant whether their joining the program has been approved or not. Notification takes place via an email sent to the email address provided in the Application.
6. Validly registered clients of the Affiliate are clients who have signed up in one of the following manners:
6.1 By clicking on a link from the site of the Affiliate, referring to specified by the Company website in way referred to by the Company;
6.2. by entering when signing up the unique code /affiliate code/ provided to the Affiliate by the Company.
7. Only the Company registers clients and monitors their transactions.
8. The company shall be entitled to refuse a client’s registration and/or to close down a client’s account at its discretion if the General rules and Terms and conditions, together with the Additional Terms and Conditions of the Company are not observed.
9. At its discretion the Company shall be entitled to:
• block or limit certain participants, registrations and/or deposits,
• ban access to a certain part of the site in order to prevent fraud attempts or deals prohibited by law.
• ban access to certain parts of the site in the presence of techniques used by the Affiliate for advertising, contrary to current legislation and these Terms, that are aimed at attracting clients by introducing them into delusion or forced inviting registration.
10. Clients who are prohibited by law to participate in the services offered by the Company shall not be registered.
11. On joining the program, the Company provides the Affiliate with the non-exclusive en non-transferrable right to refer clients to the Company’s products and services in accordance with this Contract.
II. RIGHTS AND OBLIGATIONS OF THE AFFILIATE
1. The affiliate shall actively attract clients for the Company by following strictly the provisions of this Contract and the applicable legislation.2. The Affiliate shall actively popularize all services offered by the Company by following strictly the provisions of this Contract and the applicable legislation.
3. The Affiliate shall guarantee that they possess all the necessary licenses, permits, registrations and other documents applicable to their activity, as well as that they always observe and shall observe all legal provisions /irrespective of jurisdiction/ applicable to them.
4. The Affiliate takes part in the program either by creating and maintaining unique links on their site to a site requested by the Company and in the manner requested by the Company, or by actively attracting potential clients in a certain territory.
5. The Affiliate must have at least 5 (five) active clients during the month in question and 2 new active registrations. "Active registrations" means new active registrations from customers who have successfully made a deposit and/or made a deposit in the last 3 months - 2pc.
5.1 In case of failure to meet the conditions under point 5 in the first two months, the Affiliate will be notified/warned via email that his affiliate code will be cancelled in case he fails to cover the sum of the previous two months in the 3rd month.
6. The Affiliate shall try every month to increase the turnovers and net profits realized by the clients attracted by them.
7. The Company shall have the sole right to close down the Affiliate’s account and to terminate their participation in the Program on ascertaining that:
7.1 The Affiliate disseminates spam in whatever form and/or manner.
7.2 The Affiliate is using promotional materials that undermine the prestige of the Company and / or contrary to the regulations in force;
7.3 Partner is printing flyers, receipts in paper or other, containing a reference to the pledges and / or whole or parts of digital content on the site of the Company;
8. The Affiliate shall not be entitled to register and/or submit application forms for domain names similar to the domain name of the Company. Only the Company shall pass judgment as to whether a certain domain name is similar or not.
9. The Affiliate shall not have the right to purchase and/or register key words, search terms or other identifications, used in any search engine, portal, sponsored advertising service or any other search or reference service, which are identical or similar to any of the trademarks of the Company and/or to the trademarks of the Company. Only the Company shall pass judgment as to whether a certain trademark is similar or not.
10. The Affiliate shall not have the right to demand payment of commission and/or any other compensation for activity carried out by people other than themselves.
11. The affiliate shall only use advertising materials expressly approved by the Company.
12. The Affiliate shall not be entitled to alter and/or modify the appearance of the advertising materials explicitly approved by the Company.
13. The Affiliate shall not have the right to mention the Company in any other advertising materials different from the ones approved by the Company.
14. The Affiliate shall at any time act in good faith and for the benefit of the Company’s interests.
15. The Affiliate shall include and constantly present in a visible place the most updated links provided by the Company on all their pages of their website /provided they possess one/ in the manners and places approved by the Company. The Affiliate shall not have the right to alter the form, place and function of the links without the prior approval of the Company.
16. Joining the Program shall not in any way create a joint venture, franchise, commercial agency, nor legal employment relations between the parties.
17. The Affiliate shall not have the right to make or accept any offers or agencies on behalf of the Company.
18. The Affiliate shall be held fully responsible for the creation, functioning and maintenance of their site, for any and all information and/or materials that are published or disseminated by the Affiliate.
19. The Company shall not be held responsible in any way with regard to the site created by the Affiliate and/or the information published and/or spread by the Affiliate and/or for whatever actions carried out by the Affiliate.
20. The Affiliate agrees unconditionally to indemnify the Company for any claims, damages and costs (including but not limited to court fees, expenses, fines, etc.) arising directly or indirectly from the site created by the Affiliate and/or the information published and/or disseminated by the Affiliate and/or from any actions carried out by the Affiliate.
21. Joining the Affiliate’s site to any site of the Company is not allowed.
22. The Affiliate shall protect, indemnify and exonerate the Company, its managers, employees and agents from and against any liabilities, losses, damages and costs, including legally imposed fees resulting from: ensuing from or in any way related to (a) any violation on the part of the Affiliate of a warranty, deed or condition (b) fulfillment of duty and obligation under this Contract, (c) omissions or (d) any and all damages caused directly or indirectly by omissions or premeditated activity or inactivity or improper use of banners and links or the Program.
23. The Company has the sole authority to close the account of the Affiliate and terminate its participation in the program at any time, in any establishment of breach by the latter, of the conditions referred to in points 8,9,10,11,12,13,14 , 15,17 and 21 of Chapter II., of the current conditions.
III. AFFILIATE's PAYMENT
1. The Company shall pay to the Affiliate a commission to the amount of % of the net profit generated by the clients attracted by them for the following products: (sports, casino, poker,lotto) The total % of the commission will be defined, following the conditions in point 5 below.2. The commission shall be paid on the basis of the net profit of the Company from clients attracted by the Affiliate. The net profit shall only be determined by the Company.
3. For the purposes of this Contract “net profit” shall be defined as:
3.1. For the “Sports Betting” product: all clients’ bets which have been registered as win or non-win minus (i) all profits paid to Clients; (ii) money paid on taxes and fees on the bets (or collaterals in that respect); (iii) returned bets; (iv) transactions which have been cancelled on instructions by the cardholder’s bank (the so called returned fees); (v) cancelled bets, (vi) deposits and bonuses for bets and (vii) fraud attempts including but not limited to: deposit into the client’s account by a stolen credit card, misappropriation of funds, money laundry attempts, etc.
3.2. For the “Casino” product: the initial balance value of the client plus the funds deposited by the client, minus: (i) withdrawn funds (ii) balance at the end of the client’s game in the casino (iii) user credits (iv) license fees (v) returned fees (vi) fraud attempts including but not limited to: deposit into the client’s account by a stolen credit card, misappropriation of funds, money laundry attempts, etc.
4. Commissions shall be paid to the Affiliate upon fulfilling the following conditions at the end of every month.
4.1. Values and percentages for first month:
| Bonus: | 1st month |
|---|---|
| Commission: | 40% |
| Net profit: | 0 - 19,999 | 20,000 - 29,999 | 30,000 - 49,999 | 50,000 - 69,999 | + 70,000 |
|---|---|---|---|---|---|
| Commissions: | 35% | 37% | 40% | 45% | 50% |
4.3. The holding specifically calculated the affiliate commission in the following method: - With clients that visit Palmsbet.com or other licensed domains of the Bulgarian holding: From the gross incone from all games (the collective income from all players) are discounted 35% and all of the paid bonuses and the paid back amounts and payments.
5.1 For each billing period the Affiliate shall receive the total balance of the estimated commission. In case of negatice balances, affiliate will not be eligible to request withdrawal.
5.2 In case of accumulation of negative balance, the partner won’t receive a commission at the end of the period and the cumulative negative balance will be transferred to the next reporting period.
6. The due commission is paid within 30 calendar days in the following month. The commission is transferred by bank transfer to the partner's company account.
7. If the commission generated from the net profit of the clients attracted by the affiliate partner is negative or below the minimum payout amount to the date of the financial reconciliation, the partner will not receive any commission until the Affiliate’s account balance is positive and reaches the minimum amount payable under point 5.2 of Section III of these Terms.
8. The commission shall be calculated in kenya shilling only. In case the Affiliate’s client account registered with the Company is in a currency other than the euro, the commission shall be paid in that currency at the exchange rate specified by the Company.
9. The Company shall be entitled to change the size of the commission and the manner of its determination and calculation. The changes shall come into effect on a date specified by the Company.
10. The Company shall have the right to withhold any amounts due to the Affiliate should the Company be in doubt as it their good faith.
10.1 - It is necessary that each of the partners submitting information about current advertising campaigns update the information in a timely manner and not create the suggestion of misleading advertising to the end user.
10.1.2 In case of non-compliance with the instructions for updating the information under clause 10.1, the partner will be notified/warned by email that the affiliate code will be cancelled in case the CONTRACTOR fails to comply with the instructions given in the previous two months as well, irrespective of the positive financial result of the clients attracted by the CONTRACTOR.
11.The Company shall provide the Affiliate with an electronic report on the transactions and movements on the Affiliate’s clients’ accounts on the following webpage https://affiliates.palmsbet.com
IV. INTELLECTUAL PROPERTY
1. The Company shall provide the Affiliate with a non-exclusive and non-transferrable license valid for the time the Affiliate is part of the program, to use the trade name of the Company, its trademarks and service marks, logo and any other markings in the manner specifically approved by the Company.2. The Affiliate shall not be entitled to grant, contract and/or in any other manner dispose of and/or transfer the license which has been given to them.
3. The license granted to the Affiliate shall be limited to and shall only result from the rights ensuing from the general terms and conditions of this Contract.
4. The Affiliate shall not be entitled to claim invalidity and/or inapplicability and/or contest ownership of the Company’s trademarks and/or the granted license in any manner whatsoever.
4.1 The Partner shall ensure that it does not advertise persons or organisers of gambling games and/or services who are not licensed to organise gambling games and activities under the Gambling Act.
5. The Affiliate shall notify the Company immediately upon learning that a third party misuses the Company’s trademarks
V. CONFIDENTIAL INFORMATION
1. The Contractor has been informed that the Assignor is a public company within the meaning of the Securities Act and any information material to investors (inside information pursuant to Article 7 of Regulation 596/2014) shall be disclosed in the manner provided for in Regulation 596/2014. Breach of a confidentiality clause or the dissemination of inside information relating to the Principal without its consent may result in the imposition of sanctions by the regulatory authorities. The Contractor shall indemnify the Assignor and/or its representatives against the full amount of the sanction imposed if the sanction is the result of the Contractor's dissemination of inside information relating to the Assignor. 2. The Affiliate shall not have the right to reveal in any manner or form whatsoever information related to the Company nor for any of the attracted by him and / or registered customers the value in their accounts, including, but not limited to made bets, received winnings and any other information which has come to the attention of the Affiliate in and in connection with his participation in the program.3. The Affiliate’s obligations in relation to the confidential information shall remain valid even upon termination of their participation in the program.
VI. DATA PROTECTION
1. The Affiliate shall at any time comply with the applicable laws and/or the Privacy Act applicable to the Company.VII. DURATION AND TERMINATION
1. The Affiliate shall be deemed to have entered the Program on the date of receipt of the conformation by the Company.2. The Affiliate shall be entitled to terminate their participation on the Program at any point upon notifying the Company.
3. The Company shall be entitled to terminate the Affiliate’s participation at any time without giving reasons thereof.
4. The financial relations between the parties shall be settled within 10 days of receipt of the notice of termination.
5. Upon Contract termination, the Affiliate shall remove all banners/icons of the Company from their site and shall deactivate all links.
6. Rights and licenses which have been given to the Affiliate shall be terminated with immediate effect.
7. The Affiliate shall return to the Company all materials, information, as well as any copies of it, which are in their possession.
VIII. LIMITATIONS ON THE COMPANY’S LIABILITY
1. The Company shall not guarantee that its sites’ performance, its system, network, software or hardware (or those supplied by third parties) shall be error-free or will run smoothly. The Company (or its suppliers or main suppliers) shall not be obliged to provide constant network stability, nor software or hardware stability. The Company shall not be held responsible for any eventual consequences of such errors.2. The Company shall not be held responsible for any direct or indirect damages (or any loss of income, profit or data) arising in relation to the Program, even if the Company was aware of the the possibility of such damages.
3. The Company’s liability shall be limited to and shall not exceed the total commission due to the Affiliate. Any obligation resulting from this Contract shall be settled only with the generated commission and shall be limited to direct damages caused by guilty conduct of the Company.
4.The Company’s obligations under this Contract shall not be deemed personal obligations of its managers, employees or shareholders.
IX. MONEY LAUNDRY
1. The Affiliate shall observe and at any time comply with the legislation applicable to them and/or the Company in relation to money laundry and/or property acquired by way of crime.X. FINAL PROVISION
1. The provisions of this Contract shall come into effect and shall be binding for the Affiliate once they fill in the Application form.2. For the purposes of these Conditions:
"Canceled bets" - are all back bets which have been registered as win or non-win such.
"Net Profit" - represents the profit obtained due to these conditions from which earnings are deducted due on the same deductions.
"Gross profit" - represents the profit obtained as a result of these conditions, without deduction of the necessary deductions.
"Reporting Period" - a period equivalent to one month of the year.
Date of last change : 01.05.2022
