Reseller Commission Guide
There are 2 ways to buy TimeTec licenses:
1. Reseller pay the licences to TimeTec
2. Customer pay the licenses to TimeTec directly
How does a reseller claim the reserved commission?
A. Reseller pay the licences to TimeTec
The reseller needs to deduct the commission amount from the invoice and only pay the balance amount.
What's Next?
• Reseller must Invoice Customer
• TimeTec will Invoice Reseller after commission deduction
• The system generates Official Receipt & activate licenses
B. Customer pay the licenses to TimeTec directly
TimeTec reserves the commission in the Reseller Account. Reseller can claim the commission either in cash or by way of contra against FingerTec readers and/or spare parts or other TimeTec invoices.
What's Next?
• The customer pays for licenses
• The system generates Official Receipt & activate licenses
• The System autogenerates a Proforma Invoice/ Proforma Tax Invoice on behalf of the Reseller to TimeTec with the commission amount.
   
How does reseller claim the reserved commission?
• Reseller to issue official Invoice/Tax to TimeTec within 14 days to claim the commission
• Reseller to submit Credit Advice to TimeTec to request for a commission in CASH or contra against readers and spare parts OR offset with other TimeTec Invoice
• TimeTec pay/ship items to Reseller
• Reseller send Credit Note/Receipt upon receiving the product/payment
   
Terms & Conditions for reserved commission
• The system auto-generates a Proforma Invoice on behalf of the Reseller to TimeTec for the commission reserved.
• The Reseller must issue an Invoice/Tax Invoice to TimeTec within 14 days to recognize the commission earned.
• The Resellers may request their earned and accrued commission in cash or to setoff/contra against the purchase of FingerTec readers/devices and/or spare parts from TimeTec Computing Sdn Bhd, the sister company of TimeTec Cloud Sdn. Bhd., and/or offset with any TimeTec invoices, etc.
• To utilize the commission amount, Credit Advise must be issued from Reseller to TimeTec Cloud Sdn Bhd to indicate the intention.
• TimeTec will only pay the commission in cash if the accrued commission exceeds the amount of RM300/USD100. No restriction on amount applies for contra.
• The Resellers need to issue a Credit Note upon receiving of FingerTec readers/devices, spare parts and etc. shipped by TimeTec Computing Sdn. Bhd., and/or issue a Receipt upon receiving the payment from TimeTec Cloud
• TimeTec Customer account can be terminated at any time, and unused subscriptions are entitled to a refund. Get more information on the refund process and policy here.
Commission Payment Method
TimeTec will only arrange payment of commission owing to Reseller as and when the cumulative amount exceeds RM300/USD100.
Payment will be done either via:
e-banking
(for Malaysia Reseller)
Telegraphic Transfer (TT)
PayPal
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