Snapbau Payment Policy

Last updated: April 23, 2025

Snapbau’s payment terms cover the following areas:

1. Annual Subscription Payments from Buyers

Buyers subscribing to Snapbau’s platform are required to pay an annual subscription fee for access to the platform and its services. The subscription fee is charged per purchasing center of the buyer on Snapbau. The subscription payment is due at the beginning of the subscription term and must be paid in full prior to accessing platform features.

2. Payment Terms

Subscription payments are due on an annual basis, at the start of each term.

• The subscription fee is non-refundable, and no partial refunds will be issued if the buyer cancels or reduces the subscription term before the end of the billing cycle.
• If payment is not received by the due date and / or the indicated date of the start of the subscription period, access to the platform will be suspended until the outstanding payment is made.
• Snapbau reserves the right to charge a late fee of 1.5% per month (or the maximum allowable rate under applicable law, whichever is less) on any overdue balance.
• The subscription is automatically renewed if no prior notice of cancellation is received from the buyer. The renewal invoice is sent two months before the end of the subscription period with a payment deadline of 30 days.

Annual Subscription Payments from Subcontractors

Subcontractors who use the platform for bidding, managing projects, or other services offered by Snapbau are required to pay an annual subscription fee. Similar to buyers, the subscription payment is due at the beginning of the subscription term. The fee is based on the type and scope of services provided by the subcontractor.

Payment Terms:

• Subscription payments are due on an annual basis, at the start of each term.
• Subcontractors must ensure payment is made in full to continue receiving services.
• If a subcontractor fails to pay the subscription fee by the due date, their access to the platform will be suspended until payment is received. The suspension of access means that they will be unable to access any ongoing transactions / processes with their customers.
• Late payments will incur a finance charge of 1.5% per month (or the maximum allowable rate under applicable law, whichever is less), from the date the payment was due until it is received.

Commission Payments from Suppliers

• Suppliers are required to pay Snapbau a commission fee based on sales transacted through the platform.
• This commission is negotiated on a case-by-case basis, considering factors such as the type of products offered and the expected sales volume.
• The commission structure is signed between Snapbau and the Supplier and is legally binding in addition to these Payment Terms and shall be treated as an integral part of contractual obligation.
• Subcontractors are not required to pay a commission. They will be paying a subscription. The commission structure is limited to material suppliers.

Payment Terms:

• The commission fee will be calculated monthly, based on the invoiced and paid business conducted through the platform.
• The invoice is generated at the end of each month for all business invoiced. The invoice is generated directly on the supplier dashboard on Snapbau and is notified to the supplier per email.
• Suppliers must pay the commission fee within 15 days of receiving an invoice from Snapbau for the applicable month’s sales.
• Any overdue commission payments will be subject to a finance charge of 1.5% per month (or the maximum allowable rate under applicable law, whichever is less), compounded daily.

3. Unpaid Subscriptions

In the event that a subscription payment (either from a buyer or subcontractor) is not received by the due date:

• Suspension of Service: Snapbau reserves the right to suspend access to the platform, including all features and services, until the outstanding subscription payment is made. Users whose subscriptions are suspended will not be able to access any data or services associated with their account.
• Late Fees: A late fee of 1.5% per month (or the highest rate permitted by applicable law, whichever is less) will be applied to any unpaid balance. The late fee will be compounded daily from the due date until payment is received.
• Termination of Access: If the payment remains unpaid for more than 60 days after the due date, Snapbau reserves the right to terminate the subscription and the associated user account. Termination will result in the complete loss of access to the platform and its services.
• Debt Collection: In the event that payment is not made within the required timeframe, Snapbau reserves the right to pursue collection efforts, including referral to debt collection agencies, at the user's expense. The user will be responsible for all collection costs and legal fees incurred in the process.

4. Unpaid Commission Payments from Material Suppliers

If a material supplier fails to pay the commission fee within the agreed-upon payment terms (30 days from the date of the invoice) such amount shall be deemed to be acknowledged debt and the following actions will be taken:

• Suspension of Supplier Access: Snapbau reserves the right to suspend the material supplier’s access to the platform, including the ability to list products, manage sales, and engage with buyers. This suspension will remain in place until the outstanding commission payment is made.
• Late Fees on Unpaid Commissions: If the commission fee remains unpaid after the due date, Snapbau will charge a late fee of 1.5% per month (or the maximum allowable rate under applicable law, whichever is less), compounded daily, from the due date until the payment is made.
• Termination of Supplier Agreement: If the supplier does not settle the unpaid commission within 60 days of the original due date, Snapbau reserves the right to terminate the supplier’s agreement and remove or block their visibility from the platform. Termination will result in the supplier losing access to the platform and any associated services.
• Debt Collection: In the event of non-payment beyond the 60-day period, Snapbau reserves the right to initiate debt collection proceedings, including but not limited to engaging third-party collection agencies. The supplier will be responsible for any associated collection costs, legal fees, and any other expenses incurred in the process.

5. Reinstatement of Access

If the commission is paid after the suspension or termination, Snapbau may, at its sole discretion, reinstate the supplier's access to the platform. Any reinstatement may be subject to additional conditions or fees as determined by Snapbau.

6. Refunds

Snapbau maintains a strict No Refunds Policy for subscriptions and commission payments. All subscription fees (for both buyers and subcontractors) and commission fees (for material suppliers) are non-refundable under any circumstances.

• No refunds will be issued for partial months or unused services.
• No refunds will be provided if a user cancels or terminates their subscription early.
• If a user or supplier disputes the subscription or commission fee, Snapbau will not process a refund, but will work with the user or supplier to resolve the issue in accordance with the terms outlined above.

7. Payment Methods

Snapbau currently enables Buyers, Suppliers, and Subcontractors to pay via the following means:

• Snapbau will issue invoices to buyers, subcontractors, and material suppliers.
• Payments for all subscriptions and commission fees must be made via bank transfer only.
• Snapbau reserves the right to update the available payment methods from time to time.