This Cashback Program Agreement ("Agreement") is entered into between Global Importing Group, Inc. ("Company") and the program participant, herein referred to as "Client." This Agreement aims to outline the terms and conditions of the Cashback Program initiated by the Company.
Program Objective:
Whereas this program aims to boost sales for participants by offering Clients the opportunity to earn Cashback rewards incentives. Cashback rewards options:
Option 1.
1% cashback for achieving a 10% year-over-year sales growth.
Option 2.
1.5% cashback for achieving a 15% year-over-year sales growth.
Option 3.
2% cashback for achieving a 25% year-over-year growth.
Please note the following examples, for purposes of illustration:
| |
less than 9.99% |
10% - 14.99% |
15% -
24.99%
|
25%
and more |
| Option 1 (1% for 10% of growth) |
0.0% |
1.0% |
1.0% |
1.0% |
| Option 2 (1.5% for 15% of growth) |
0.0% |
0.0% |
1.5% |
1.5% |
| Option 3 (2% for 25% of growth) |
0.0% |
0.0% |
0.0% |
2.0%
|
– No cashback will be paid if the sales growth is 9.99% or less.
– If the sales growth more than 10%, a cashback of 1% will be paid, only if you selected Option 1.
– If the sales growth is 10%, no cashback will be paid, if you selected Option 2.
– If the sales growth is 15%, a cashback of 1.5% will be paid, only if you selected Option 2.
Client Eligibility:
The Client must have maintained a continuous business relationship with the Global Importing Group for at least one year. The Client should have placed at least one order per month throughout 2023.
Cashback Details:
Any Cashback rewards earned will be issued as a credit for purchasing Company products during the 1st quarter of 2025.
Year-over-year sales growth will be determined by taking Client’s 2023 calendar year gross purchases from Company, less any returns and credits issued by Company to Client against those purchases, and subtracting the resulting total (“Base Year sales”) from Client’s 2024 calendar year gross purchases from Company, less any returns and credits issued by Company to Client against those purchases (“Incentive Year sales”). The result of the Incentive Year Sales minus the Base Year sales will be divided by the Base Year sales to determine the year-over-year sales growth percentage, and any incentive earned will be based on the corresponding percentage in the Program Objective section, multiplied by Client’s Incentive Year Sales
Sales volume reports for program participants will be provided quarterly.
Participation Conditions:
The Client is required to make timely payments as per the agreed payment terms. Two overdue payments on issued invoices may exclude the Client from the cashback program at the sole discretion of Company.
Communication:
Clients can direct any inquiries related to the cashback program to Vitaliy Georgyiev, Director of Sales, at (971) 386-3929.
Program Period:
The program is effective from January 1, 2024, to December 31, 2024.
This Agreement serves as a binding contract between the Company and the Client, outlining the terms and conditions of the Cashback Program. By participating in the program, the Client acknowledges and agrees to adhere to these terms.