Terms and Conditions
Tektime will publish, in the section of the Portal ("Sales"), the books and audio books sales, indicating copies sold and the relative income.
The data displayed in this section are only for statistical purposes and may change due to local taxation and redemption or refund of purchased books. These data are not in real-time because sales channels can send them even with delays longer than 30 days.
The official sales data, that will be used to pay the revenue, are only and exclusively those that will be shown in the "Invoices" section.
The translation/narration grant will be considered like a book sale even if it is "special" (Golden copy). So, it will follow the same books sales reporting and payment rules.
At the end of each month, Tektime will automatically generate a billing request related to the collected book sales revenue up to two months before.
(For example: at the end of April we'll report royalty collected until the end of February).
The invoice will be automatically created by the system. You will be only required to indicate its progressive number and its date of issue, according to your accounting system.
The invoice must be approved by the user and only after its approval, it could be enabled for its payment.
In the event that the amount which Tektime has to pay to the user, for the reported period, is less than 50 Euro, that amount will be accrued and accumulated to the royalty of the subsequent month, until reaching the 50 Euro threshold. On exceeding this threshold, the revenue can be paid.
Tektime, immediately after 60 days of the invoice date, will send the payment to the user, in the way indicated at the time of subscription (PayPal, TransferWise, etc.)
Invoices and payments will be made exclusively in EURO. Tektime will not be responsible for any losses resulting from changes in exchange rates in other currencies.
Italian law, in the case of physical persons (individual), requires us to apply the withholding tax indicated in the invoice.
SUBJECTS RESIDENT IN ITALY:
We will send an annual certification report to use in your tax return.
SUBJECTS NON-RESIDENT IN ITALY:
If you meet the necessary requirements and if your country has entered into an agreement to avoid double taxation, you can request the refund of that amount. All information regarding the procedure to be followed can be found here:
Flow chart of finance process