1. Introductory Provisions.
This inKind Plus Agreement ("Agreement") is entered into by inKind Cards, Inc., located at 610 W Live Oak Street, Austin, TX 78704 ("inKind") and the undersigned restaurant (the "Merchant"). The Agreement is effective as of the date it is fully signed or otherwise executed by both parties ("Effective Date"). 2. Service.
inKind offers an electronic loyalty service which allows members of the community to pre-pay for visits to restaurants in its network ("inKindPlus"). A purchaser buys a fixed amount of food and beverage credit that is tracked and redeemed through the inKind app, at participating restaurants. 3. Payment.
After Fees are deducted (as defined below), Merchants shall receive a portion of the price paid by a purchaser as follows: 3.A. Initial Payment.
inKind shall distribute fifty percent to the restaurants in the network at the time of purchase. Such payments shall be aggregated and made on a weekly basis. 3.B. Redemption Payment.
When a purchaser redeems credit at a Merchant's venue, Merchant will be provided with a payment equal to thirty-three percent (33%) of the amount of credit redeemed. Such payments shall be aggregated and made on a weekly basis.
In this clause, "Fees" means the credit card processing fees charged by inKind's payments partner, Stripe, and the five percent (5%) marketing and administrative fee charged by inKind (a portion of which will be provided to the Asian Hustle Network's relief fund set up to assist people most impacted by COVID-19). 4. Marketing.
Merchant agrees to help market inKindPlus to its local community through social media, text, email, in person, and other methods which it believes will be effective. 5. Redemption.
Merchant agrees to honor inKindPlus credit when purchasers of inKindPlus credit present it as a method of payment. 6. Tax.
Merchant will be solely responsible for calculating, collecting and remitting any value added, use, occupancy, restaurant, privilege, gross receipts, sales or other applicable taxes owed to federal, state, or local taxing authorities in connection with the sale or redemption of credit. 7. Other terms.
This agreement incorporates, by reference, the terms and conditions available at inkind.com/inkindplus-additionalterms