Transactions

Transaction Procedure

First, Brand will create a campaign. Next, the Creator will apply for the campaign. After the Brand approves the Creator’s application, work on the campaign begins. When prepared, Creators submits draft(s) for approval. If the draft meets the Brand’s requirements, it will be approved to be officially launched. Payment for the campaign will be issued to the Creator seven (7) days after the Creator’s participation in the campaign is fully completed (See Item 4: Final Settlement for more details).

Basic Requirements for Brands to Create Campaigns

Brands can only create campaigns under the following conditions: Brands are verified by our platform; Brands’ account balance is greater than the campaign budget. SOMO reserves the right to block Brands from posting campaigns at its discretion.

Basic Requirements for Creators to Apply for Campaigns.

Creators can only apply for campaigns under the following requirements: Successfully connect to their corresponding social media account; complete filling out account information details. SOMO reserves the right to block Creators from applying to campaigns at its discretion.

Rules for Release of Payment.

Final payment will be issued: After Brand has confirmed release of payment to the creator. OR Release will automatically confirm seven (7) days after successful completion of the creator’s campaign. Bank holidays are excluded from the calculation.

Campaign Cancellation

Brand Cancellation: Brands may receive a full refund prior to the approval of the Creator’s first draft. Brands must pay Creator the full amount of the campaign if cancellation occurs after Brand approves the first draft and Creator has acted in good faith to fully complete the campaign.

Creator Cancellation: Brands will receive a full refund. Creator may dispute the full refund if they feel Brand’s bad faith actions forced the cancellation.

Brand Dispute Resolution: Brands can initiate a complaint within 7 days after conclusion of the campaign if the Brand feels the creator has not met the requirements of the campaign and the Brand has not already released payment to the Creator. Upon filing a complaint, both parties will be notified, the platform will investigate the claim, and arbitrate a resolution. No payments or refunds will be processed until a resolution is found. The judgement issued by the platform is final and cannot be contested further.

Deadline Breaches: If the Creator does not complete an aspect of the campaign within the assigned deadlines, regardless of the stage of the campaign, the campaign will be deemed canceled in favor of the Brand and Brand will receive a full refund. Creator can dispute the cancellation within 7 days of deadline breach if they feel the Brand acted in bad faith. Platform decisions on the matter will be final and cannot be contested further.

Campaign Modifications/Cancellations.

Campaign Modifications: New or modified campaigns must be submitted and approved by SOMO before the publish date. Social media platform type cannot be modified after the campaign has been created.

Cancellation: Brands can cancel the Campaign at any time. Brand receives a full refund if no drafts have been approved. Creator will receive full payment if the cancellation occurs after the draft has been approved and the creator has acted in good faith to complete the campaign.

Campaign Budget.

A default budget for a creator will be set by Brand for the campaign. Brands can modify this price on an individual basis during the Creator Application approval process.

Campaign Schedule.

No applications are allowed after the application deadline. Failure to meet the publication deadline will result in order cancellation.