Squadhelp offers an installment plan on several domains listed for sale on our premium domain marketplace.
As a creative, you have the ability to enable or disable the installment option on all your Premium Marketplace domains (installments are not available on Basic or Basic Plus listings) .
- When a buyer purchases a domain on an installment plan, it will no longer be available for sale to other buyers.
- Squadhelp will move the domain to an "Escrow" account. For seller owned domains, you will be required to transfer the domain ownership to Squadhelp once a customer has purchased the domain on an installment plan.
- The maximum duration of an installment plan is 6 months, however the buyer can choose shorter durations.
- After the first installment has been made, the Squadhelp team will assist the buyer in updating the name servers to a hosting provider of their choice.
- Until the domain has been fully paid off, the domain will be held by Squadhelp in the Escrow account.
- If Squadhelp is unable to bill the customer's credit card for an installment payment that is due, they will have an opportunity to provide an alternate payment method and make that payment within 7 days of the installment due date.
- If the buyer is unable to pay the remaining installments on the domain, buyer will forfeit any installments payments that have been paid until that time. In this scenario, the domain will be listed for sale again on the Squadhelp marketplace and the name servers of the domain will be updated back to Squadhelp name servers. In case of seller owned domains, the sellers will have an option to request the ownership of the domain to be transferred back to their account.
The creative will receive compensation as per the following schedule:
- Once the domain has been fully paid off, the creative will receive their commission as soon as the domain ownership is transferred to the buyer.
- If the installment plan is cancelled for any reason, Squadhelp will pay the creative as per the approved commission rate (based upon the amount collected so far). For example, a customer purchases a domain (listed for sale for $1600) in 4 monthly installments ($400 per month). If the customer only pays the first two installments, Squadhelp would have collected $800 from the customer. If the creative commission in this case is 30% of the selling price, the creative will receive $240 into their account if the domain purchase is cancelled at this stage. The domain will be listed back on sale on Squadhelp marketplace at this stage.
- In case of any chargebacks or refunds, the creative will not be eligible for any compensation for the refunded portion of the payment.