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General Contractual Terms Annex nr. 1
This annex constitutes the inseparable part of the prevailing WLS Customer General Contractual Terms (GCT).
Customers registered in the WLS system can receive commission if the following conditions are met. The Customer registered in the WLS system has the right but not the obligation to recommend the WLS system to third persons, future Customers. If 5 new Customers register in the WLS system through the personal homepage of a registered Customer – regardless whether these new Customers register by the registered Customer’s recommendation or not – the registered Customer will be entitled to receive commission. The Customer who meets this condition will be qualified as „Distributor”. In the WLS system it is only the „Distributor” who has opportunity to receive commission. The status of a „Distributor”cannot be lost and is definite, except for the case when the legal relationship of the „Distributor”is terminated in accordance with point 7 of the GCT. The conditions of qualifying as a „Distributor” must be met once only. The registered Customer will be entitled to receive commission from the date of the registration of the fifth new Customer registered in the system through the registered Customer’s personal homepage. A further prerequisite for the payment of the commission is that the registered Customer possesses a valid Discount Card when the payment of the commission is due, and that the amount of the commission exceeds EUR 20.
The commission is paid onto the TransferWise Master Card, as stipulated in the GCT (The right to change is maintained by WLS). The extent of the commission and the method of calculating it can be found later in this Annex.
Terms:
-Commission: the amount of money that the „Distributor” is entitled to receive in accordance with this Annex
-Registration: a process implemented exclusively in an electronic way, on the WLS homepage, which includes filling in the registration form, accepting the GCT, paying for the Discount Card and the service package, when the Customer is recorded by the WLS, and the Customer is automatically placed in the WLS pentangular matrix on the basis of an algorithm given in this Appendix.
-New Customer: a person freshly registered in the WLS system, who does not have the right to recommend the system yet
-„Distributor”: a Customer whose personal homepage has been used for the registration of five new Customers
- Your own matrix: as part of the pentangular matrix, starting out from a certain Customer places opening on seven levels, below one another, according to the power of number 5
-Pentangular matrix: places opening below one another according to the power of number 5, where the places taken by WLS registered customers are fixed in order to record the entitlement for commission
-Automatic machine: an algorithm functioning on a principle given in this annex, without the touch of humans
-Level: a line within the matrix, which contains places that are next to one another and open downwards according to the power of number five
-Branch: the total places that are created by continuation and filling up of any of the five places opening in a registered customer’s own matrix
In the pentangular matrix, which records the registered customers of the WLS system with the aim of recording their entitlement for commission, there will be five new places opening below each place available for newly registered customers. At registration, a new customer will get such a place within the matrix following his contracting with the WLS system. The process of filling up one’s own matrix can be followed on seven levels, given in a chart in the web office, under the menu „My own matrix”. These seven levels are important when calculating the commission. The WLS records commission for a „Distributor” after customers registered on these seven levels in his own matrix. The amount of the commission is EUR 3.5 (three and a half EUROS) after each registered customer in the matrix every calendar year.
Every newly registered customer will be placed automatically on the basis of the following algorithm: either in the matrix of the recommending customer, or if there was no recommending customer, in the pentangular matrix in such a way that they form very tight lines from top to bottom.
The algorithm of placing the new customer in the matrix:
- the newly registred customer will be automatically placed in a given matrix on the branch where there are fewer registered customers. In case of equality, the system will fill up the matrix from left to right.
The customer will not be able to directly control placement in his own matrix.
The commission in the WLS system will be calculated based on how much the registered customer’s own matrix is filled. The following maximum commission rates may occur and can be paid in the registered customer’s own matrix.
Level 1 - 5 places, which is a commission of EUR 5x3,5, that is EUR17,5
Level 2 – 25 places, which is a commission of EUR 25x3,5, that is EUR 87,5
Level 3 - 125 places, which is a commission of EUR125x3,5, that is EUR 437,5
Level 4 - 625 places, which is a commission of EUR 625x3,5, that is EUR 2187,5
Level 5 - 3125 places, which is a commission of EUR 3125x3,5, that is EUR 10937,5
Level 6 - 15625 places, which is a commission of EUR 15625x3,5, that is EUR 54687,5
Level 7 - 78125 places, which is a commission of EUR 78125x3,5, that is EUR 273437,5
Therefore the total commission that can be gained from the matrix on the seven levels is EUR 341792.5
The WLS will transfer a minimum accumulated and recorded commission of EUR 20 (twenty EUROS) on a monthly basis to the TransferWise Master Card account of the „Distributor” who holds a Discount Card valid for the calendar year.
Prior to the qualification as a „Distributor, or if a customer is qualified as a „Distributor” but does not hold a Discount Card valid for the calendar year, the commission accumulated in the given calendar year is recorded by the WLS, and registered customers can find it in his own web office, in the menu „My own matrix”. If the Customer does not hold a Discount Card belonging to the current year, the commission accumulated and recorded int he given year cannot be paid. In this case the commission will be cancelled automatically on 31st December.
If the commission accumulated and recorded but not taken in a given year, is not taken in the year following the calendar year, it will be automatically cancelled on 31st December in the year following the calendar year. The commission belonging to the calendar year may be taken in the year following the calendar year on the condition that the customer holds an annual Discount Card and service package. In case of termination with immediate effect the Customer will not be entitled to receive the commission that he failed to take previously.
The WLS may unilaterally modify the present Annex number 1 of the GCT if this is reasoned by significant changes in legislation, economic and market situation, inflation index, EUR exchange rate, or certain features that characterize customers.
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