By registering on GoMad Inc. and continuing to use it, you confirm that you have read, understood and accepted the policy and its terms and conditions.
Below you will find an outline of policies with specific regard to the use of GoMad credits. These policies are also part of the comprehensive GoMad Terms of Service
The value of 1 GoMad Credit = 1 US Cent; every GoMad Credit is equivalent to one US Cent.
No guaranties or warranties are provided, specific or implied regarding the representation of this website and the potential collection of GoMad Credits. Examples provided within this policy are not to be interpreted as a promise or guarantee of collection of GoMad Credits. Your collection potential is entirely dependent on your usage of GoMad Inc. and its features.
The potential of each user will vary, and is entirely based on the individual’s capacity, technical resources, expertise, time spent on GoMad Inc. and level of desire.
There are no guarantees, promises, representations and/or assurances concerning the level of success you may experience. We do not make any claims, or provide any testimonials or examples of how many GoMad Credits can be collected.
We also offer no assurance, or guarantee that previously enjoyed levels of collection GoMad Credits will be duplicated in the future. We accept no responsibility for unforeseen events or circumstances, with respect to the factors pertaining to the success or e-commerce initiatives.
Users who use the information, Product(s) and/or services hosted on GoMad Inc. must exercise their own due diligence when choosing the services and products that will suit their needs. We accept no responsibility for any outcome where a user is dissatisfied with the service or product chosen and accept no liability for any grievances.
2. Collect GoMad Credits
You can collect GoMad Credits in the following ways:
Selling your goods/services on MyStore:
The MyStore feature allows you to showcase your services & products (hereby referred to as “Product”) for sale to other users. For every Product you successfully sell on MyStore, you will receive GoMad Credits from the buyer(s) that are equivalent to the price of the product, less the administrative expense (refer to MyStore Policy
) if the buyer chooses to pay in GoMad Credits.
(The value of 1 GoMad Credit = 1 US Cent)
Topping up GoMad Credits
In addition to collecting GoMad Credits, you can also top up your GoMad Credit balance in your account, through our website by going to Top Ups tab and following the steps provided. Once you have completed the top up process, the additional GoMad Credits will appear in your account and will be available for immediate use.
All transactions shall be referenced in U.S. Dollars. (The value of 1 GoMad Credit = 1 US Cent)
The Referral Bonus promotion allows you to collect GoMad Credits when you refer contacts (people or organizations) in your referral network directly or indirectly to GoMad Inc. You will collect credits up to 5 referral levels known as “Referral Orbits” (RO) – i.e. even after you refer a person to sign up for GoMad Inc. through your invitation; you will continue to collect further credits from their direct and indirect referrals.
The following is the Referral Bonus plan for various RO’s for every contact you may refer or their subsequent referrals up to your RO5:
10 GoMad Credits for your each RO1
9 GoMad Credits for your each RO2
8 GoMad Credits for your each RO3
7 GoMad Credits for your each RO4
6 GoMad Credits for your each RO5
Once you have collected 10,000 GoMad Credits through referrals, the user can then transfer the credits to GoMad Credits Statement for use. Users can also similarly use collected Celebrity Rating Bonus Credits annually (see clause 1.4 below for a further explanation of the Celebrity Rating Bonus or CR Bonus).
Any number of GoMad Credits collected less than 10,000 GoMad Credits through referrals shall have no value what so ever & shall not be reflected in your GoMad Credits Statement along with the CR Bonus GoMad Credits.
The Referral Bonus and CR Bonus is a promotional offer and we reserve the right to change or discontinue the offer at any time, without prior notice.
Effect of discontinuation: all bonuses collected from referrals will remain available for redemption as per the Use/Redeem GoMad Credits clause 2. No GoMad Credits would be collected for contacts referred from the time the promotion is closed.
Celebrity Rating Bonus (CR Bonus)
GoMad Inc. gives you an opportunity to collect additional bonuses known as a Celebrity Rating Bonus or a CR Bonus at the end of each year. The accumulation of GoMad credits begins upon registration and users can view the CR Bonus % as referral bonus on their annual statements.
The Celebrity Rating is automatically generated, and correlates to the amount of activity each user invests on GoMad Inc. The Celebrity Rating may vary from Zero to Five Star celebrity status (i.e 0 to 5 Stars).
Calculation of CR Bonus percentage:
CR Bonus % = CR x CR (example: if CR is 4 Star, the CR Bonus percentage shall be 4 x 4 = 16%)
The CR Bonus GoMad Credits are added to your GoMad Credits Statement at the end of each year, subjected to Clause 1.3
All transactions shall be referenced in U.S. Dollars. (The value of 1 GoMad Credit = 1 US Cent)
GoMad Inc. may provide further ways to collect GoMad Credits at an unspecified future date. We reserve the right to determine at our own discretion how GoMad Credits may be collected and related terms and conditions. We also reserve the right to modify or discontinue the payment of GoMad Credits.
You may only receive payments into one user account at GoMad Inc., if it is determined that you are receiving Referral Bonuses in more than one user account, GoMad Inc. has the sole discretion to terminate any and all of your accounts.
Recommend Program (RP)
GoMad Inc. allows you to collect GoMad Credits from participation in the Recommend Program (RP).
Under the RP, you can recommend Product(s) within the program to your connections. Upon the advent of a successful sale using GoMad Credits, the seller agrees to give a specific percentage of the sale price to the following parties as outlined below:
2.5.1 RP Discount: The buyer receives a percentage discount on a product included within the Recommend Program that is recommended by the buyer’s direct connection.
2.5.2 RP Commission: when a product you recommend to a direct connection is then purchased by the same connection, you will collect a percentage of the total sales price as commission for your assistance in the sale.
2.5.3 RP Package Fee
: GoMad Inc. will receive a percentage of selling price as part of the RP package fee, which includes a 2% MyStore administration fee.
Currently, we offer the following RP’s:
A. Recommends Program 5% (RP5):
i. RP Discount: 5% to buyer.
ii. RP Commission: 5% to recommender.
iii. RP Package Fees: 5% to GoMad Inc.
B. Recommends Program 10% (RP10):
i. RP Discount: 10% to buyer.
ii. RP Commission: 10% to recommender.
iii. RP Package Fees: 10% to GoMad Inc.
In case the buyer is directly connected with the seller at the time of launch of a selected RP, the buyer gets RP Discount plus RP Commission.
3. Use / Redeem GoMad Credits
Users can use or redeem the GoMad Credits that are listed in their individual GoMad Credits Statement which have been collected as outlined in Clause 1.
You agree that your use of GoMad Credits will not infringe the laws or regulations applicable to you within the legal jurisdiction of your country of residence.
GoMad Credits are not to be sold or traded to, shared with, or otherwise transferred to any other person and have no rights of survivorship except enforceable by your local jurisdiction.
Where user deletes their account for any reason, any remaining GoMad Credits in the account would be forfeited. Additionally if we deactivate your account due to a failure to meet the GoMad Inc. Terms of Service
, any GoMad Credits in your account would be forfeited.
If during any promotion you receive free or promotional credit GoMad Credits, the number of credits provided is not unlimited and you can only be redeemed in accordance with our Terms of Service
You can redeem GoMad Credits only in USD. (The value of 1 GoMad Credits = 1 US Cent)
Purchase of Product(s) from MyStore:
GoMad Credits can be used to purchase products through our website or through certain third party websites or applications which permit the use of GoMad Credits (refer to MyStore Policy
Donate to Charity:
GoMad Inc. gives you an opportunity to donate (GoMad Credits that you have collected) to specified charity organizations provided on our site to help you to support your community and to “Go Make A Difference”. In order to make contributions, your account must be verified through your mobile (refer to Terms of Service
You will need to select the area of need you wish to donate to and enter the amount you would like to give. The charity will be informed of your donation and you will receive communication from our website to thank you for your contribution.
We are not responsible for any tax liabilities that may arise against you or for the provision of any tax documentation required to be fulfilled by you and/or a charity organization.
GoMad Inc. receives $0 from this donation and takes no additional fee from the donation. To help make a difference, GoMad Inc. will also pay the necessary transfer charges & waive-off the transfer administration fee for this transfer.
Redeem GoMad Credits:
You can redeem available GoMad Credits in your account in US currency on request.
The transfer charges for payment shall be borne by you and an additional 5% Redemption administration fee is also applicable to the transaction. GoMad Inc. reserves the right to change the official pay-out amount at any time.
GoMad Credits can be redeemed in the following ways:
You will be required to provide us with your PayPal account or give your bank details to receive your payment. Fill out the necessary details and we will credit the amount equivalent to GoMad Credits (1GoMad Credits = 1 US cents) of your collection after deducting 5% as Redemption administration fees and any additional applicable banking or transfer fees from the GoMad Credits that you have redeemed.
• Minimum withdrawal is USD10 per month.
If you wish to dispute a payment, you must notify us (refer to Terms of Service
) within 5 days of receipt of payment. Failure to do so constitutes a waiver by you of any claims relating to the payment.
You are not entitled to receive interest payments on any balance of GoMad Credits due to you which have been held for a period of time before you use them or redeem. GoMad Credits balances are not deposit obligations and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency.
GoMad Inc. will undertake the processing of payments as quickly as possible, however please allow 30-60 days as payment processing time.
We will process the payment subject to your own mobile account verification and in case of the Referral Bonus payment processing is also subject to the mobile verified accounts in your referred network (RO1 – RO5) and additional audits/checks as deemed necessary to verify authenticity.
Payment Source for GoMad Credits Top Up
When you complete the GoMad Credits purchase transaction, you authorize our website (and our designated payment processor) to charge the full amount to the payment source you designate. You are responsible for all interests, processing fees, overdraft charges, and other amounts charged by your bank or credit card provider for the said transfer.
4. Tax Indemnity
You agree that our website is not responsible in any way for any payment of taxes to any entity on your behalf. You agree to indemnify GoMad Inc. and (if applicable) any parent, subsidiaries, affiliates, officers, directors, agents and employees against all liabilities, costs, interest and expenses (including reasonable attorney fees) incurred by GoMad Inc. that arise out of any third party or governmental claim that involves, relates to or concerns:
4.1 Any federal, state or county tax obligation or amounts due or owing under any tax regulation, law, order or decree or
4.2 Any dispute concerning the tax status of payments you have received from our website.
5. Amendments to the Policy
GoMad Inc. reserves the right, at our discretion, to change, modify, add or remove portions of these Terms of Service
and its Policies
at any time by posting the amended Terms of Services
on GoMad Inc. You may also be given additional notice, such as an e-mail message or messaging within the website, of any changes. You will be deemed to have accepted such changes by continuing to use the website. Except as otherwise stated, all amended terms shall automatically be effective within 30 days of the initial posting. We may also revise other policies, codes or rules at any time, and make the new versions available at GoMad Inc.
If at any point you do not agree to any of the provisions within the current version of our Terms of Service
& its Policies
, your license to use the website shall immediately terminate and you must immediately cease any participation with GoMad Inc.
6. Account Security
As notified in the Terms of Service, you are fully responsible for barring third parties from accessing your account and password, to prevent third parties from spending your GoMad Credits without your consent. If you become aware of any possible case of loss, theft, forgery and abuse of your account or GoMad Credits, please notify GoMad Inc., so we can attempt to take all reasonable efforts to prevent or limit further damage. GoMad Inc. will not compensate for any damage or loss of GoMad Credits due to any reason.
We take all reasonable efforts to provide you with accurate information in your GoMad Credits account. However, we do not guarantee that GoMad Credits will always be available without interruption due to technical failures or any other extenuating circumstances.
7. Charge Backs
What is a chargeback?
When a bank forcibly reverses a credit card transaction, returning funds to the cardholder, it is known as a Chargeback. Chargebacks are usually performed when fraudulent purchases have been made on a person’s credit card. However, consumers may request a chargeback for nearly any reason; as a result, it is possible to accidentally commit “friendly fraud.” Friendly fraud is where the customer has used his card and after receiving the GoMad Credits issues a chargeback on his credit card/PayPal account.
However, in case the Credit Card owner claims that there has been an unauthorized use of his credit card, following steps will be carried out:
• Customer raises complaint with his card provider;
• Card provider contacts GoMad Inc. (via Payment Acquirer) to seek details of the transaction.
• Immediately upon first intimation, GoMad Inc. puts a freeze on the customer ID with an e-mail to the customer informing him/her of the situation.
• The provision of full support to the Card provider throughout the investigation process.
How does GoMad Inc. handle chargebacks?
When GoMad Inc. receives a chargeback notice, the account in which the service was purchased is immediately blocked, and all associated services in the account are terminated. All present and future collections are suspended, and all future collections which may be accrued from the 5 orbits above this account are also suspended. GoMad Inc. always considers chargebacks to be the result of fraud; since fraudulent purchases go hand-in-hand with malware and phishing, immediate termination of all services related to the chargeback is the best way to protect the public from harm.
How do I cancel a chargeback?
To undo a chargeback, you must contact your credit card provider and issue a chargeback reversal. Reversing the chargeback is the only way to restore a blocked account. Chargeback reversal notices are often sent by postal mail, which can result in days without access to the account or its services; when contacting your provider; please ensure they fax or email a copy of the paperwork to us and allow us to restore account access as quickly as possible. Our Customer Support
will be happy to help you to resolve the issue.
Please remember, that the only way to restore a blocked account is to reverse the chargeback. This returns the initial funds to us, cancels the penalty fee we receive for “allowing” fraud to be committed, and generally erases any “black marks” against us for the transaction. We cannot accept additional payment for services on a different card.
If no action is taken to resolve the chargeback:
• All access to services and programs will remain deactivated.
• Your account will be terminated.
• All collections, if any, will be forfeited. The email address and mobile number associated with this account will be permanently blocked from creating any future accounts on this as well as any affiliated websites on present or future.
• You will be unable to access GoMad Inc. in the future.
, we may share this information with any individual, companies, organizations or government agencies as we deem necessary.
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