IOTALENTS' FEE SCHEDULE

Updated on [13 Jan 2015]



IoTalent's Service Fee Schedule

Note: Unless otherwise stated, all currencies are in Singapore Dollars.

For Hirers

For each online contract job where you're charged money on the contract, IoTalents receives a Service Fee. This fee is paid by the talent. All rates, bids, and charges you see as a hirer are inclusive of fees.

For each onsite contract job, you will be charged a listing fee of S$28 by IoTalents at the point of job posting.

For Talent

There is no fee for applying and working on for onsite contract jobs.

For online jobs, the IoTalents Service Fee is 10% of the total amount charged to the client. The fee is paid automatically each time your client is charged on a contract.

As a Talent, you pay the IoTalents Service Fee and which is transparent to the hirers. The project value which will be paid by the hirer is inclusive of IoTalents' service fee. This project value will be the amount shown on job proposals, contracts, profile and most other reports. Fees are broken out in your Invoices. The total billed is your legal income and the fees paid may be deductible business expenses.

The Talent's earning will calculated based on the contract value (after deduction of the applicable IoTalents Service Fee) and it will be rounded off to the nearest cent (if applicable).

As shown in the example above, the Talent's earnings = 90% x $111.12 = $100.008 ≈ $100.01.

Refund

We have a job cancellation and dispute management process in place. (Link to CANCEL or DISPUTE MANAGEMENT). In the event of refund, the withdrawal will be based on the Hirer's payment method for the originating transaction. The refund amount will be nett of the IoTalent's service fee.

If the amount has been paid via PayPal, the refund will be disbursed directly to the PayPal account.

If the amount had been paid through credit card, it will be refunded to Hirer's bank account (LINK to Manage Financial account) via wire transfer. In this case there will be a fee of :

  1. S$30 per transfer to cover IoTalents' bank costs.

  2. In addition, your bank may charge a fee or currency exchange percentage to receive international wire transfers. If your bank uses an intermediary and/or correspondent bank, it may charge an additional fee, either a flat fee or a currency spread.

  3. Fees vary widely by country, bank, and currency, so please contact your bank direct to find out how much it will cost.

Withdrawal Fees

We do not charge any withdrawal fees.

Other Conditions

The use of our platform is subjected to the marketplace conditions for online job transactions.

Minimum Value for all kinds of scenarios:

For Fixed job

  1. Minimum Project Value (>=) S$100

  2. Minimum Milestone Amount (>=) S$50

For Hourly Job

  1. Minimum Project Authorised Value (>=) S$100

  2. Minimum Hourly Rate (>=) S$5

    The IoTalents Fee on each timesheet invoice will be 10% of invoice amount or S$5, whichever is higher.