1. Introduction
Welcome to Acquire.com, Inc.’s (the “Company”) Referral Program (“Program”). These Terms and Conditions (“Terms”) govern your participation as a referrer in our Program. By accessing or using our referral platform, you agree to be bound by these Terms. These Terms provide a baseline framework for participation; however, your specific referral fee arrangement and obligations will be detailed in a separate referral agreement executed between you and the Company and the terms of such an agreement shall control and govern your participation in the Program in all respects (“Referral Agreement”).
2. Eligibility and Participation
a. Eligibility. Participation in the Program is open to individuals and entities who are legally permitted to enter into agreements and who meet any additional eligibility criteria provided by the Company.
b. Role. As a referrer, your role is limited to introducing prospective sellers of a company (a “Referral”) to the Company. You shall not and will not be permitted to engage in any role or responsibility other than introduction of Referral to Company.
3. Baseline Participation Terms
a. Purpose. These Terms set forth the general requirements and baseline rights and responsibilities for participating in the Program.
b. Referral Process. When you submit a Referral, you agree to provide accurate contact information and to introduce the prospective seller in good faith belief that such Referral would be a good fit for the Company’s services.
c. Payment. Subject to these Terms and the final terms in the Referral Agreement, the Company will pay you 25% of all revenue the Company receives in connection with the sale of a Referral. In no event will the Company pay any portion of the Finder’s Fee before the Company receives the corresponding portion of the Closing Fee.
d. Qualifications and Payment Method. The Company will choose the method of payment of the Finder’s Fee in its sole and absolute discretion. You are responsible for providing accurate payment details and completing any required tax documentation prior to receiving any Finder’s Fee. The Company reserves the right to require you to verify your identification through any means required by the Company in its sole and absolute discretion.
e. No Warranty. Participation in the Program does not guarantee that every Referral will result in a transaction or that you will receive any referral fee. All Referrals are subject to Company’s evaluation in its sole discretion and the successful closing of a transaction.
f. Reservation of Rights. The Company in all respects reserves the right to deny a Referral for any reason or no reason. The acceptance of a Referral is at the sole discretion of the Company and the Company makes no guarantees whatsoever regarding the acceptance of a Referral into the Program.
g. Requirements. Subject to these Terms and the terms of the Referral Agreement and for informational purposes only, the Company reserves the right to initially evaluate Referrals based on the following requirements:
- The Referral must have a minimum trailing twelve months (TTM) revenue of $2,500 and must have been in operation for at least one (1) year.
- The Referral must not have held an account on Acquire.com at any point in the past two (2) years.
- The Referral must successfully close a transaction on Acquire.com within twenty-four (24) months from the date of referral.
- The Referral cannot be an entity in which you have a management or ownership stake, i.e., you cannot refer yourself to reduce fees owed to the Company upon the closing of a transaction.
4. Additional Individual Referral Fee Agreements
a. Separate Agreement Requirement: In addition to these Terms, Company will enter into a separate, individualized Referral Agreement. Such Referral Agreements will detail the specific fee percentages, payment schedule, and any additional obligations or restrictions.
b. Binding Nature. Until the execution of a separate Referral Agreement, your compensation rights are limited solely to what is described in those individual agreements, and these Terms serve only as a baseline for participation. The Company shall have no duties or obligations prior to the proper execution of a Referral Agreement.
5. Limitation on Licensed Activity
a. Finder’s Fee vs. Licensed Activity. Your compensation under the Program is intended solely for making introductions (“Finder’s Fee”) of a Referral to Company and shall be limited to such a role.
b. Compliance. The Company reserves the right to deny any Referral at any time should it determine in its sole discretion that your activity with the Referral has gone outside the scope of an introduction.
6. Modifications and Termination
a. Right to Modify. The Company reserves the right to modify these Terms at any time with or without notice. Changes will be posted on our website and will become effective upon posting.
b. Termination. Either party may terminate your participation in the Program at any time upon notice. Termination of participation does not affect any rights or obligations that have accrued prior to termination.
7. Governing Law
These Terms shall be governed by and construed in accordance with the laws of the State of California, without regard to its conflict of law provisions.
8. Dispute Resolution
Any disputes arising out of or related to these Terms or your participation in the Program shall be resolved in accordance with the dispute resolution procedures set forth in your individual referral fee agreement or, if not provided there, through binding arbitration in San Diego County, California.
9. Acknowledgment and Acceptance
By participating in the Program, you acknowledge that you have read, understood, and agree to be bound by these Terms, as well as to execute any subsequent Referral Agreement that Company may require.
