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PAYOUT GUIDELINES FOR EVENT ORGANIZERS

Here you will find the Payout Guidelines for event organizers who are either US citizens or foreign persons residing outside the US.  

If you are a US citizen and organizing events on Vibrnz, there are two options to collect the payments through Vibrnz:
 
1. With Stripe: You need to link your Stripe account to your Vibrnz account. If you do not have a Stripe account, you can create one by going to payment settings (in account settings on the dashboard). You will receive the payout each time a ticket is sold, based on the Stripe settings which is typically 7 – 14 days. To know more about Stripe and the payout timeline, click here.

2. Without Stripe (upon request and approval): If you do not have a Stripe account, you have the option of receiving the payout from Vibrnz through a check or any other online payment mode that works for Vibrnz or you. Vibrnz will not incur any online charges for transferring the funds. All the payments for the event are collected by Vibrnz directly. Vibrnz will pay event organizer (electronically or via check) after receiving the payment from Stripe. It typically takes 7-14 days for Stripe to transfer to money. This option does not apply to recurring events like classes, etc. 
 
Service fee: For event organizers there is no fee to create events. The service fee is charged to the ticket buyers. There is no fee for free events. In case of paid events, for all purchases the end user/ticket buyer pays a service fee in addition to the ticket price. The service fee is a total of the Stripe payment processing fee and Vibrnz fee. Stripe currently charges a total of 2.9% of the amount processed plus $0.30 per transaction. Vibrnz fee is currently at 1% of the total amount plus $0.55 per ticket.
If you are a foreign person residing outside the US, and organizing event on Vibrnz, this is how the payments work.
 
1. For international payments, we will require an IRS form W-8BEN (for individuals) to be completely filled and returned to us. The W-8BEN is an IRS form that helps you claim either an exemption or a lower rate of witholding as per the tax treaty between US and your country of residence. (Form W-8BEN-E incase of entities)
 
2. Withholding of tax would be based as per publication 515 from IRS as per which a foreign person is subject to US tax on his or her US source income with respect to services.
 
3. Vibrnz will withhold 30% of the payments unless a completed W-8BEN form is on file.
 
4. Once you complete the form, you can submit it here. Once submitted, the form is valid for 3 years from the date of submission.
 
5. Specifically for service providers residing in India who do not have a permanent establishment in the US (as per section 5 of the US India Tax Treaty) can claim exemption from withholding if Vibrnz has your completed W-8BEN form on file. In most cases we will not be withholding any payments for tax purposes.
 
6. Service fee:For event organizers there is no fee to create events. The service fee is charged to the ticket buyers. There is no fee for free events. In case of paid events, for all purchases the end user/ticket buyer pays a service fee in addition to the ticket price. The service fee is a total of the Stripe payment processing fee and Vibrnz fee. Stripe currently charges a total of 2.9% of the amount processed plus $0.30 per transaction. Vibrnz fee is currently at 1% of the total amount plus $0.55 per ticket.
 
7. How payments to international event organizers will work? 
 
- All the proceeds from ticket sales will be collected by Vibrnz via Stripe. 
- Vibrnz will receive the proceeds from Stripe based on its payment schedule which is typically 7 to 14 days. Click here to know more.
- Within a reasonable period of receiving payments from Stripe, Vibrnz will transfer the money to the event organizer via Transfer Price or Payoneer, global payment platforms. Final proceeds to the event organizer will be net of any Vibrnz, foreign exchange and bank fees charged by the above mentioned payment platforms. Vibrnz fees on all international payments is 5%.
- The above process applies for one-time events. For recurring events like classes, monthly workshops etc. ticket proceeds will be accumulated to    be paid at the end of each calendar month.
 
 

 


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