Liaqa Payout Terms

Last updated: March 2024

Effective Date: March 2024

1. Introduction

Welcome to Liaqa, a platform dedicated to bridging the gap between clients seeking fitness and wellness services and the talented professionals who provide them. Our mission is to create a seamless, efficient, and mutually beneficial ecosystem where clients can easily access the services they need, and coaches, gyms, and other service providers can thrive by offering their expertise.

The purpose of these “Liaqa Payout Terms” is to outline the process and policies surrounding the financial transactions between Liaqa and the service providers who use our platform. We understand that clear and transparent financial dealings are the cornerstone of trust and reliability in any professional relationship. Thus, we aim to provide all the necessary information regarding how payouts are made when they occur, and what is required from our service providers to ensure smooth and timely financial transactions.

At Liaqa, we act as the intermediary that facilitates payments from clients to our service providers. Our platform collects payments from clients for the services rendered by our coaches, gyms, and other fitness professionals. Once these payments are collected, we then process and distribute the funds to our service providers according to a predefined schedule and set of terms outlined herein.

Through our partnership with Stripe (using Stripe Connect) and Wise.com, we are able to send payouts directly to the service providers’ bank accounts in their local currency, ensuring a hassle-free transaction experience for everyone involved. This process simplifies the payment procedure and ensures that our service providers can focus on what they do best — providing top-notch fitness and wellness services to their clients.

The following sections will delve into the specifics of our payout process, including the schedule, payment method, required documentation, fees, and other essential terms. Our goal is to ensure that you thoroughly understand how payouts are handled on the Liaqa platform, empowering you to manage your finances effectively and confidently.

2. Payout Schedule

To ensure clarity and predictability in your financial planning, Liaqa has established a consistent monthly payout schedule for all our service providers, including coaches, gyms, and other fitness professionals. This section outlines the key dates and frequencies you need to know to understand when you can expect your earnings to be processed and paid out.

If you are using Stripe Connect for payment processing, payouts will follow Stripe’s standard payout schedule based on your account’s region, currency, and verification status. Stripe handles the timing and transfer of payouts directly, and processing times may vary depending on your bank and other factors.

For more information about Stripe’s payout schedules, please refer to Stripe’s Payout Documentation.

Monthly Payout Frequency:

Liaqa processes payouts once a month. This frequency is designed to strike a balance between providing regular income to our service providers while managing the administrative overhead involved in processing international payments.

Specific Cutoff Dates for Earnings Calculations:

The earnings for any given month are calculated based on the services rendered up to the last day of the month. This means that any payments received from clients for services completed by this cutoff date will be included in that month’s payout calculation.
To allow for processing time and to ensure all client payments have been cleared, the cutoff date for including earnings in a monthly payout is set to be the last day of each month. Services rendered and payments processed after this date will be included in the following month’s payout.

Expected Payout Date Each Month:

Payouts are scheduled to be issued to service providers on the 7th of the following month. This timeline allows Liaqa and our payment processing partner, Wise.com, adequate time to verify transactions, process international transfers, and convert funds into your local currency.
For instance, earnings calculated for services provided up until the last day of January will be paid out on the 7th of February. This schedule ensures that you receive your earnings promptly each month, providing stability and predictability to your income from Liaqa.

Please note that after Liaqa initiates the payout through Wise.com, it will take 1-5 days to receive the money in your bank account. This timeframe accounts for the processing periods associated with international bank transfers and the operations of local banking institutions. While we strive to expedite every transfer, these processing times can vary slightly due to factors outside Liaqa’s control, such as bank holidays or your bank’s specific policies.

It’s important to note that while Liaqa and Wise.com make every effort to adhere to this schedule, there could be rare instances of delays due to bank holidays, processing delays, or unforeseen circumstances affecting international money transfers. In such cases, we commit to promptly communicating with affected service providers and resolving any delays as quickly as possible.

This payout schedule is part of our commitment to providing a transparent, reliable, and efficient payment system for our valued service providers. By understanding and planning according to this schedule, you can better manage your finances and focus on delivering exceptional services to your clients.

We appreciate your understanding and patience with this aspect of the payout process. Liaqa is committed to ensuring that your hard-earned money is transferred to you as swiftly and securely as possible.

Note on Future Payout Frequency Adjustments:

At Liaqa, we are constantly exploring ways to enhance our platform and services to better meet our service providers’ needs. In line with this commitment, we are actively working towards offering more flexible payout options, including the potential to send payouts twice a month to replace our current monthly schedule. This initiative aims to give our service providers greater control and flexibility over their finances.

We value the feedback and insights from our community of coaches, gyms, and fitness professionals. Your experiences and suggestions play a crucial role in shaping the future of Liaqa. If you have any thoughts on our payout schedule or any other aspect of our platform, we warmly invite you to share your feedback with us. Whether it’s a suggestion for improvement, a feature request, or general feedback, we are eager to hear from you.

Your input helps us make Liaqa a better platform for everyone and ensures that we continue to support your success in the most effective ways possible. Please don’t hesitate to contact us with your thoughts and feedback.

3. Payment Method

To ensure that our service providers receive their earnings in the most efficient and hassle-free manner possible, Liaqa has chosen Wise.com as our trusted partner for processing payouts. This decision is rooted in Wise.com’s proven reliability, security, and global reach, which aligns perfectly with our commitment to providing seamless financial transactions for our diverse community of service providers, including coaches and gyms across the globe.

Use of Wise.com for Processing Payouts:

Wise.com specializes in international money transfers, offering faster, cheaper, and more transparent services compared to traditional bank transfers. By leveraging Wise.com’s innovative platform, we can ensure that payouts are processed quickly and securely, minimizing any potential delays or issues.

Payouts Made Directly to Service Providers’ Bank Accounts:

All payouts are directly deposited into the service providers’ bank accounts. This direct transfer method not only simplifies the payout process but also ensures that you have immediate access to your funds without the need for intermediary steps or additional withdrawal processes.

Payouts Issued in the Service Provider’s Local Currency:

One of the key advantages of using Wise.com is its ability to issue payouts in the service provider’s local currency. This feature eliminates the hassle and expense of currency conversion, allowing you to receive your earnings without worrying about fluctuating exchange rates or conversion fees. Whether you’re based in the UAE, Saudi Arabia, Egypt, or any other country within the MENA region, Liaqa ensures that your payouts are tailored to your local financial ecosystem.

Liaqa’s choice of Wise.com as our payout processor reflects our dedication to leveraging technology to benefit our service providers. By streamlining the payout process, we aim to support your professional growth and financial well-being, enabling you to focus more on what you do best — inspiring and leading others in their fitness journeys.

4. Required Documentation for Payouts

To ensure a smooth and secure payout process for all our service providers, Liaqa, in partnership with Wise.com, requires certain documentation to be provided before payouts can be processed. This step is essential for complying with international financial regulations and safeguarding against fraud. Below are the details regarding the necessary documentation and the process for submitting these documents securely.

Requirement for Proof of Identity (ID):

All service providers must submit a valid government-issued ID as proof of identity. This could be a passport, national ID card, or any other form of identification recognized by your country. The ID must be current and clearly show your name, photo, and date of birth.

Wise Account Details Needed for Payouts:

To receive your payouts via Wise, you must have a valid Wise account and provide the necessary account details. This includes your Wise account email, the name on the account, and any additional information required based on your currency or region. Ensure your Wise account is active and can accept transfers to avoid delays.

Any Additional Documentation Required for International Money Transfers:

Depending on your location and banking regulations within your country, additional documentation may be required to process international money transfers. This could include proof of address (such as a utility bill or bank statement) or specific forms related to banking or tax information. Liaqa and Wise.com will inform you of any such requirements based on your individual circumstances.

Process for Submitting Documentation Securely:

Liaqa takes the security of your personal and financial information very seriously. All documentation should be submitted through our secure online platform, which is encrypted and designed to protect your privacy. You will receive detailed instructions on how to upload your documents securely once you initiate the payout process. It’s crucial that you follow these instructions carefully to ensure your information is submitted safely and correctly.

By providing the required documentation promptly and accurately, you help us ensure that your payouts are processed efficiently and without delay. We understand the importance of your privacy and are committed to maintaining the highest data protection and security standards throughout this process.

Should you have any questions or need assistance with the documentation process, our support team can guide you through each step. We’re here to ensure your Liaqa payout process experience is as smooth and hassle-free as possible.

5. Fees and Charges

At Liaqa, we strive to maintain transparency regarding the fees and charges associated with using our platform and receiving payouts. Understanding these fees is crucial for our service providers to manage their finances effectively. Below is an overview of the types of fees included in the payout process, our approach to handling these costs, and where you can find more detailed information.

Overview of Fees Covered by the Payout:

Credit Card Fees: These are fees charged by credit card companies for processing payments. They are a standard part of online financial transactions.
Wire Fees: Also known as transfer fees, these are charged by banks or financial institutions for the service of transferring money electronically from one account to another, especially in the context of international transfers.
Platform Maintenance: This refers to fees associated with the upkeep of the Liaqa platform, ensuring that it runs smoothly and efficiently for both service providers and clients.

Detailed Fee Structure:

To provide clarity and assist in your financial planning, we have documented a detailed fee structure, which outlines all applicable fees and charges you might encounter as a service provider on Liaqa. This document includes specific percentages, flat rates, and any conditions under which these fees apply. For the most current fee structure, please refer here to see Current Fees. This link will direct you to our website to access up-to-date information regarding all fees.

Explanation of Who Bears These Fees:

Liaqa’s Approach: Our aim is to foster a supportive environment for our service providers, acknowledging the hard work you put into offering your services. As such, Liaqa absorbs the credit card and wire fees associated with transactions and payouts. This means that the amount specified in your payout reflects the gross earnings from your services without deductions for these transactional fees.
Service Providers’ Responsibility: While Liaqa covers transactional fees, the platform maintenance fee is shared with our service providers. This nominal fee is deducted from the payout as a percentage of the earnings and is outlined in the detailed fee structure linked above. It is our belief that this shared approach to platform maintenance costs ensures the continued high quality and improvement of the services we offer, benefiting our entire community.

We understand that fees and charges are an important consideration for our service providers. Liaqa is committed to ensuring that these are kept reasonable, clearly communicated, and managed to support our service providers’ growth and success. Should you have any questions or need further clarification on any of the fees and charges, our support team is always ready to assist you.

6. Tax Considerations

In navigating the financial aspects of earnings through Liaqa, all our service providers must fully know and understand their tax obligations. Liaqa acts as a conduit connecting clients with service providers (coaches, gyms, etc.), facilitating payments for services rendered. However, the responsibility for understanding and fulfilling any tax obligations rests solely with you, the service provider.

Statement on Service Providers’ Responsibility for Their Own Tax Obligations:

As an independent contractor or business entity utilizing the Liaqa platform, you are responsible for reporting your income to the appropriate tax authorities in accordance with the laws of your country of residence or operation. This includes but is not limited to, income taxes, self-employment taxes, and any other applicable taxes or contributions.
Liaqa does not withhold taxes from your payouts. Consequently, you may need to make periodic tax payments or set aside a portion of your earnings to cover your tax obligations, depending on the tax laws and regulations that apply to you.

Reminder to Consult with a Tax Professional Regarding Earnings from Liaqa:

Given the complexities of tax laws, which can vary significantly from one jurisdiction to another, we strongly encourage you to seek the advice of a qualified tax professional. A tax advisor can help you understand your tax obligations, claim any allowable deductions or credits, and ensure compliance with local and international tax laws.
Consulting with a tax professional can also provide valuable insights into tax planning strategies that may benefit your business, helping you to navigate tax obligations efficiently and effectively.

Liaqa is committed to supporting our service providers in every aspect of their professional journey, including the financial management of their earnings from our platform. While we provide a platform for connecting with clients and receiving payments, managing your tax affairs remains an important aspect of your independent business operations, and we encourage you to take proactive steps to ensure your tax compliance.

We are here to assist if you have any general inquiries regarding payouts or financial transactions through Liaqa. However, for specific tax advice or information, please consult a tax professional familiar with your personal and business circumstances.

7. Adjustments and Discrepancies

At Liaqa, we strive to ensure that every payout is processed accurately and on time. However, we recognize that discrepancies can occasionally occur. To address these effectively and maintain transparency and trust, we have established a clear procedure for reporting and resolving any payout discrepancies that our service providers might encounter.

Procedure for Reporting and Resolving Payout Discrepancies:

Initial Review: If you notice a discrepancy in your payout, we first recommend reviewing your records and the detailed payout information provided by Liaqa. Sometimes, discrepancies may arise from misunderstandings or overlooked services.
Reporting: If, after your initial review, you believe that a genuine discrepancy exists, please report it directly to us. We ask that you provide a detailed description of the discrepancy, including the specific payout period in question, the expected amount, and the actual amount received. Any supporting documentation, such as records of the services provided, can be highly beneficial in resolving the issue swiftly.
Investigation: Upon receiving your report, Liaqa’s financial support team will thoroughly investigate the reported discrepancy. This process involves reviewing transaction records, communicating with clients, and gathering any other relevant information that could clarify the situation.
Resolution: After the investigation is complete, we will communicate the findings to you, explaining the nature of the discrepancy and the steps taken to resolve it. If it is determined that an adjustment to your payout is warranted, we will process this adjustment promptly, ensuring you receive any funds due to you without delay.
Follow-Up: Our team will follow up with you to confirm that the discrepancy has been resolved to your satisfaction and to address any further concerns you may have.

Contact Information for Liaqa’s Financial Support Team:

For any inquiries or to report a payout discrepancy, you can reach our financial support team via the following channels:

Email: financialsupport@liaqa.com

We are committed to providing prompt and courteous assistance to resolve any issues related to your payouts. Our financial support team is available during standard business hours and aims to respond to all inquiries within 48 to 96 hours.

At Liaqa, we value the trust and partnership of our service providers. We understand that clear and accurate payouts are essential to your satisfaction and success on our platform. Rest assured that we are here to support you every step of the way, ensuring a smooth and transparent payout process.

8. Changes to Payout Terms

Liaqa is dedicated to continually enhancing our platform to serve our community of service providers and clients better. As part of this commitment, updating our payout terms from time to time may become necessary. These updates could be driven by changes in financial regulations, advancements in payment technologies, feedback from our community, or our ongoing efforts to improve the efficiency and security of our payout process.

Explanation of How and When These Terms May Be Updated:

Periodic Reviews: We conduct periodic reviews of our payout terms to ensure they align with current best practices, regulatory requirements, and the needs of our service providers.
Reasons for Updates: Updates to the payout terms may include changes to payout schedules, modifications to the fee structure, adjustments in the documentation requirements, or updates to the tax considerations section.
Decision Process: Any decision to update the payout terms is made carefully considering its potential impact on our service providers. We aim to balance the need for updates with the importance of providing a stable and predictable payout environment.

Commitment to Notifying Service Providers of Any Changes in a Timely Manner:

Advance Notice: Service providers will be notified of any changes to the payout terms well in advance of their implementation. This notice will be communicated through email, announcements on the service provider dashboard, and/or direct messages within the Liaqa platform.
Transparency: The notification will include a clear and concise summary of the changes, the reasons behind the updates, and the effective date of the new terms. We will also provide a link to or a copy of the updated payout terms for your review.
Feedback and Questions: After receiving notice of the updates, we encourage our service providers to provide feedback or ask questions about the changes. Liaqa values your input and is committed to addressing any concerns you may have regarding updates to the payout terms.

Liaqa aims to foster a transparent, fair, and supportive environment for all our service providers. By informing you of changes to our payout terms in a timely and clear manner, we hope to maintain your trust and ensure that you feel valued and informed as an integral part of the Liaqa community. Your success and satisfaction are paramount to us, and we are here to support you in navigating any changes that may occur.

9. Contact Information

At Liaqa, clear and prompt communication is at the heart of what we do, especially when it comes to addressing payout-related inquiries. We provide multiple avenues for our clients and coaches to reach our customer service team for any assistance they might need:

For Payment-Related Inquiries

FAQ Section: We recommend visiting our FAQ section for immediate answers to common payment-related queries. This resource is designed to provide you with the information you need quickly.
Support Form: You can also use the dedicated contact form available on the Liaqa website here for any payout queries. Fill out this form, and one of our customer service representatives will contact you as soon as possible. We commit to responding to all inquiries within 72 hours to provide detailed answers and effective solutions.

Customer Service Hours

Our customer service team can assist you from Saturday to Thursday, 9 AM to 5 PM UAE time, with Fridays off, excluding public holidays. We are devoted to ensuring that your inquiries are handled with the utmost care and efficiency.

Liaqa is committed to providing a supportive and hassle-free experience for clients. Whether you have a question about payout options or need assistance with the payout processing, our support team is here to ensure your experience with our platform is both positive and seamless.

10. Governing Law

This section outlines the legal framework and jurisdiction that govern the use of the Liaqa platform, the interactions between clients and coaches, and any agreements or disputes arising from using the Liaqa services.

Jurisdiction and Applicable Laws

The terms, conditions, and any agreements or disputes arising out of or in connection with the use of the Liaqa platform shall be governed by and construed in accordance with the laws of the United Arab Emirates (UAE). By agreeing to the terms of service, users of Liaqa, including clients and coaches, agree that any legal action or proceedings arising out of these terms shall be exclusively subject to the jurisdiction of the courts of Dubai, UAE.

Liaqa is owned and operated by Liaqa Fitness L.L.C-FZ, a company based in Dubai, UAE. As such, the company adheres to the regulatory framework and legal standards established by the UAE government and Dubai’s local authorities. This adherence ensures that all transactions, services, and interactions on the platform are conducted in a legally compliant and ethically sound manner.

Users of the Liaqa platform are encouraged to familiarize themselves with these governing laws and understand how they apply to the services received or offered through Liaqa. This understanding is crucial for ensuring a mutually beneficial and legally sound relationship between all parties involved.