Payout
Policy

1. Payout Schedule

1.1 Standard Payouts (Post-Event)

Payouts are automatically initiated 1 to 3 business days after your event ends. Settlements are processed primarily via the Paystack interface into your verified bank account. In exceptional circumstances where the primary interface is unavailable, EventBridge may facilitate settlement via manual EFT from our corporate account.

This settlement window allows us to:

• Verify actual event attendance and completion.
• Process any immediate disputes or refund requests under the Consumer Protection Act (CPA).

Note: EventBridge retains any interest earned on funds held in our accounts prior to payout.

1.2 Early Payouts (Pre-Event)

Early access to funds is not standard and carries high risk. A 3.5% early-settlement service fee applies to the requested amount. Applications are strictly limited to Organisers with a "Proven Track Record," defined as having successfully settled a minimum of three (3) events and a cumulative revenue of R25,000.00 or more on the EventBridge platform. If granted, early payouts are capped at 50% of current revenue. EventBridge reserves the right to request a signed venue contract, personal surety, or a refundable deposit before release.

2. Conditions for Release of Funds

Funds will NOT be released until all the following criteria are met:

• FICA Verification: Your entity is fully verified (CIPC Docs, ID, Proof of Address, Bank Confirmation Letter not older than 3 months).
• Bank Match: We strictly pay into the bank account matching the verified legal entity. No third-party or personal account payouts allowed for registered companies.
• Successful Completion: The event has taken place at the advertised venue and time.
• Social Proof: We will take a look at the social media accounts you provided upon signing up for proof of event occurence in some cases, ensure that official channels uploaded on EventBridge are always up-to-date.

3. Postponements and Cancellations

3.1 Definition of Cancellation: If an event is postponed for more than 90 days from the original date, or if a new date is not announced within 14 days of postponement, EventBridge deems the event Cancelled.

3.2 Effect on Payouts: In the event of a cancellation or deemed cancellation, NO payouts will be processed. All funds held will be used to refund ticket buyers directly. The Organiser remains liable for payment processing fees on refunded transactions.

4. Holds, Reserves and Fraud

4.1 Rolling Reserve

EventBridge reserves the right to withhold a percentage (typically 10-20%) of the payout for up to 90 days post-event if the event category is deemed "High Risk" or if we detect an unusual volume of chargebacks.

4.2 Fraud Prevention

If we detect suspicious activity (e.g., ticket resale scams, fake venues), funds are immediately frozen. If fraud is confirmed, funds are returned to buyers and the Organiser account is permanently suspended and reported to the Southern African Fraud Prevention Service (SAFPS).

5. Negative Balances and Debt Recovery

If your account balance becomes negative due to refunds, chargebacks, or early payouts exceeding final revenue:

• Immediate Payment: You agree to settle the negative balance within 48 hours via EFT.
• Direct Debit Authorization: You hereby grant EventBridge a continuous mandate to debit your verified bank account and/or any other bank account related to you as the nominated owner of the organiser account should you close the business bank account for any outstanding negative balances, including but not limited to chargeback costs, refund liabilities and unpaid service fees.
• Right to Set-Off: You authorize EventBridge to deduct the owed amount from any future event revenues or other accounts linked to your profile.
• Collections: Failure to settle will result in your account being handed over to debt collection. You agree to be liable for all legal costs on an attorney-and-client scale, including tracing fees and collection commissions.

6. Payout Support