The following terms (these “Payment Terms”) govern payments you make or receive through novelo.com (the “Site”), operated by Novelo Ltd.

Novelo Limited processes card payments using Stripe, Inc (the "Payment Service Provider").

Please read these Payment Terms carefully before publishing Paid Stories or receiving payments through the Site. By publishing Paid Stories or receiving payments through the Site, you accept and agree, on behalf of yourself or on behalf of your employer or any other entity (if applicable), to be bound and abide by these Payment Terms. These Terms are supplemental to Novelo’s Terms and Conditions accessible here Terms of Service.

Content refers to text, video, photographs and audio submitted by authors for purchase by readers for a fee which where the context permits are referred to as Paid Stories. Please read this section carefully, as it will contain important information regarding your rights as a seller of Content:

• Only authors registered on our site may submit Content for purchase by customers.
• Authors may only sell their stories once they have completed their seller's account
• The author's account form requires authors to fill in key information about themselves and the company in which they operate as well as their bank account details. This information is never stored on Novelo servers, instead they are stored on the servers of Stripe, Inc (the "Payment Service Provider").
• If Novelo, for any reason, suspects the information entered into your seller's account is not factually correct or if the Payment Service Provider requires more information from you, Novelo will reach out to the email address associated with your account to acquire the relevant information. If you do not comply with these requests, your seller's account will be rejected and you will not be allowed to attempt to create another seller's account.
• Once filled in, the author will then be able to choose the story they want to convert into a Paid Story and will be required to select preview chapters (if any) and a listing price.
• For security concerns, Novelo may temporarily disable a author's ability to withdraw revenue to prevent fraudulent or illicit activity. This may come as a result of security issues or improper/illegal behavior reported by other users.

Receiving Payments

• In order to be able to receive payments, you must complete your seller's account.
• Novelo offers two levels of royalties: authors will receive 35% royalty for stories priced between $0.99 and $1.99 and 80% for stories priced above $1.99.
• The final price presented to users is the listing price you set for the Paid Story and a service fee of 5% + 23¢ if the listing price is between $1.99 and under $5. If it is $5 or over, no service fee is added.
• When you complete your seller's account and set a story into a paid story, this gets created as a product associated with your seller's account on the Payment Service Provider.
• Each story you sell accredits your seller's account with 100% of the sale amount. Afterwards, the Payment Service Provider will deduct their service charge, which is covered by the 5% + 23¢ we add on top of your listing price, if the story is between $1.99 and $5, and Novelo will transfer 20% (or 65% if priced between $0.99 and $1.99) of the listing price to Novelo's main account on the Payment Service Provider.
• This amount will be accredited into your account seven calendar days after the sale.
• After a sale has been made, if your bank account's currency is not USD, the Payment Service Provider will convert the USD value of the sale into your local currency.
• Your balance can be viewed on the Payouts page. The balance shown will be in your local currency.
• If a refund has been processed, your seller's account will be deducted the amount that you received from the sale.
• Authors are responsible for paying any direct or indirect taxes, including any GST, VAT or income tax, which may apply to them depending on residency, location or otherwise, under provisions of their jurisdiction. Authors represent and warrant that they comply, and will comply at all times, with their obligations under income tax provisions in their jurisdiction.

Payouts

• Payouts from your seller's account to your bank account are conducted by Stripe, Inc. Payouts are initiated once every month at the end of each month if your balance is equal to or above the threshold required. Listed below is the threshold required for all currencies supported by Novelo:
  • 30 United States Dollars
  • 25 Great British Pounds
  • 30 Euros
  • 42 Canadian Dollars
  • 47 Australian Dollars
  • 50 New Zealand Dollars
  • 56 Bulgarian Leva
  • 710 Czech Koruny
  • 220 Danish Kroner
  • 250 Hong Kong Dollars
  • 11,200 Hungarian Forints
  • 28 Swiss Francs
  • 150 Malaysian Ringgits
  • 550 Mexican Pesos
  • 330 Norwegian Kroner
  • 125 Polish Zlotych
  • 144 Romanian Lei
  • 125 Swedish Kronor
• Your balance will continue to be carried over to the next month until it meets the threshold, outlined above, required.
• Only money that is available to the seller's account at the time of the payout will be included in the payout. For example, if you sold a story less than seven calendar days before the next payout, this amount will not be included in the next payout.
• If the balance on your seller's account is negative for any reason at the time of the payout, the Payment Service Provider will create a payout that debits your bank account of the negative balance. For example, if the balance on your seller's account is -$1.00 at the time a payout is initiated, the Payment Service Provider will take $1.00 from your bank account to return the balance to $0.00.
• If your Novelo account has, for any reason, been deactivated, disabled or otherwise rendered unusable, we will disassociate your seller's account from your Novelo account. We will also unpublish your Paid Stories and make a manual payout to your bank account within 30 calendar days of your account deactivation.
• For security concerns, Novelo may temporarily disable an author's ability to withdraw revenue to prevent fraudulent or illicit activity. This may come as a result of security issues or improper/illegal behavior reported by other users.

Coupon Codes

• Coupon codes refer to discounts that authors give to their readers for their own stories through the use of codes.
• Any discount you present to your readers does not alter the commission percentage that Novelo will take after a sale. For example, if you have a story priced originally at $5.00 and you offer your readers a 20% discount, the price the reader pays will be $4.00 and Novelo will take 20% of $4.00, meaning the your earnings from this sale will be $3.20.
• Stories priced under $5.00 and above $1.99 have a service charge added to the price. Any discount you present to your readers will also be applicable to this service charge, however earnings from this sale with a discount does not take into account the service charge. For example, if the story is priced at $3.00 then a service charge of $0.38 will be added. If you give readers a 20% discount, your earnings with a discount from this sale will be $1.92 ($3.00 * 80% * 80%).
• You will be able to monitor how many times your coupon codes have been redeemed by going to the coupon codes page.

Referrals

• Referrals refer to registered members of Novelo whom you have referred. Details on how to refer members can be found here.
• For the first 90 days of the person you referred, you will earn 5% of the story's listing price (Referral Fee) when they purchase a Paid Story on Novelo. After 90 days, you will no longer receive a Referral Fee for purchases made by this member.
• Novelo is a company incorporated in the United Kingdom, and due to this and with issues with Cross Border Payments on the Payment Service Provider, we can only offer referral payments under the following circumstances:
  • If you are located in the following countries: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom.
  • Or if you are the author of the story that has been purchased and also the intended recipient of the Referral Fee.
• The Referral Fee will be recorded in Novelo's database and scheduled to be paid out to you after 14 calendar days, when the refund policy has passed for this purchase.
• Novelo will check and process scheduled Referral Fees every hour.
• If a technical issue arises where Referral Fees are not being automatically paid, a Novelo admin will manually make the payment.
• In order to receive the Referral Fee, you must complete your seller's account.
• If 24 hours has passed since a Referral Fee should have been paid to you but it has not, please contact hello@novelo.com and request a manual payment.
• If a coupon code was applied to a story sold, then the referral fee from this story will not be calculated from the story's original price but the price after the discount. For example, if the story's original price was $5.00 and a 20% discount was applied then you will receive 5% of the discounted price of $4.00 ($0.20).