Payment & Escrow Policy
International Booking & Platform Access Agreement
Purpose and Scope
1.1. This Payment & Escrow Policy (the "Policy") governs the payment structure, use of escrow systems, withholdings, refunds, settlement of funds, and related charges for operations carried out through the VIONS Platform, supplementing the Terms and Conditions of Use (T&C), the Artist Master Agreement, the Brand/Client Agreement, and specific Booking Agreements or Project Orders.
1.2. In the event of a conflict between this Policy and a specific Booking Agreement or Project Order, the provisions of such Booking Agreement or Project Order shall prevail with respect to what is expressly agreed for that transaction.
1.3. Booking Agreements and Project Orders may modify or supplement the payment structure, milestones, currencies, and cancellation rules set out in this Policy, provided that such modification is expressly recorded.
Specific Definitions
- "Escrow": a temporary funds-holding mechanism operated through the payment systems integrated into the VIONS Platform or through authorized third parties, intended to ensure compliance with payment obligations in favor of the Artist and/or VIONS.
- "Payment Provider": the financial institution or external payment processor (gateway, EMI, etc.) used by VIONS to process collections, maintain funds in escrow, and carry out settlements.
- "Reference Currency": the primary currency in which the fee for a Booking or Project is expressed (USD, EUR), as indicated in the proposal or Project Order.
- "Artist Fee": the gross amount (before taxes and VIONS Commissions) agreed with the Client for the Booking or Project.
- "VIONS Commission": the applicable percentage (18%, 25%, or 30%) calculated on the gross amount of the Booking or Project.
- "VIONS Service Fee": the portion of the Commission or service charge that VIONS may retain from the Client in certain cases.
Role of VIONS and Payment Providers
3.1. VIONS acts as an independent intermediary and professional broker and may be authorized to receive payments on behalf of the Artist, hold such payments in escrow schemes, and distribute them in accordance with this Policy and the applicable contracts.
3.2. Funds may be held in accounts operated by Payment Providers, pursuant to their own terms and applicable law. The Artist and the Client acknowledge that such Payment Providers are not controlled by VIONS and that their operation may involve additional charges.
3.3. VIONS is not a financial or credit institution and does not provide banking, investment, or regulated custody services; its role is limited to coordinating, through authorized third parties, the receipt, holding, and distribution of funds.
3.4. VIONS does not act as a fiduciary, trustee, financial institution, or regulated custodian. All funds are processed, held, and managed through authorized third-party Payment Providers.
3.5. VIONS and/or its Payment Providers may apply KYC (Know Your Customer), anti-money laundering (AML), and compliance procedures as required under applicable regulations.
Payment Structure – GLOBAL SOUND (Bookings)
4.1 Proposals and Acceptance
The Client shall submit a Booking proposal including the proposed fee, payment structure, Event date and location. Once the Artist accepts the proposal, the Booking Agreement is concluded and financial terms become binding.
4.2 Deposits and Standard Payment Schedule
Once the Booking has been accepted, the Client must pay 100% of the total transaction amount (Artist Fee plus VIONS Commission and applicable charges). The standard fund-release flow to the Artist shall be:
- First 50% of the Artist's net fee: released three (3) calendar days before the Event date
- Second 50% of the Artist's net fee: released after the Event is completed
4.3 Use of Escrow and Custody of Funds
100% of the amount paid by the Client shall initially remain in escrow, internally divided into: (a) the portion allocated to the Artist's fee; and (b) the portion allocated to VIONS' Commission and Payment Provider charges.
Under no circumstances shall the Client be required to make direct payments to the Artist outside the payment and escrow systems enabled by VIONS.
4.4 Settlement to the Artist and Commission Collection
At each release, VIONS shall deduct the applicable Commission (18% national or 25% international) and transfer to the Artist the net balance. Settlement timelines depend on the Payment Provider's processing (e.g., within 5–10 business days).
Cancellations, No-Shows and Refunds
Cancellation Attributable to the Artist (100% Refund)
VIONS shall refund the Client 100% of the amounts actually paid. The Artist shall not receive any payment and may be liable for additional damages. VIONS may record "strikes" and limit visibility or suspend the Artist's access in case of repeated cancellations.
Cancellation Attributable to the Client (90% Refund, 10% VIONS Fee)
VIONS shall refund the Client ninety percent (90%) of the amounts paid and retain ten percent (10%) as a Service Fee. The Artist shall not be entitled to any fee unless the Booking Agreement expressly establishes minimum cancellation compensation.
5.3 Force Majeure and Rescheduling
If cancellation is due to force majeure and the Parties agree to reschedule: (a) amounts may be kept in escrow for the new date; (b) VIONS' Commission shall only be adjusted if the new financial agreement differs substantially from the original.
Payment Structure – STUDIO (Projects)
6.1 Project Proposals and Acceptance
STUDIO Projects shall be formalized through proposals or Project Orders describing the creative scope, deliverables, timelines, total fee, and milestone-based payment scheme.
6.2 Milestone and Escrow Scheme
Once accepted, the Client must pay 100% of the total Project amount, held in full in escrow. Funds are released by milestones (e.g., 50% upon approval of drafts / 50% upon final delivery). Each time a milestone is met, VIONS deducts the 30% STUDIO Commission.
6.3 Settlement and 30% Commission
The 30% STUDIO Commission is calculated on the gross amount of each milestone and is automatically deducted before settlement to the Artist.
6.4 Refunds and Disputes in STUDIO Projects
Cancellation by Artist: 100% refund to Client. Cancellation by Client: Amounts for milestones already delivered are non-refundable; future milestones receive 90% refund with 10% VIONS fee.
Currencies, Exchange Rates and Charges
7.1. As a general rule:
- Transactions with Clients based in Europe: invoiced in EUR
- Transactions with Clients based outside Europe: invoiced in USD
7.2. Parties may expressly agree on a different currency in a Booking Agreement or Project Order.
7.3. Where currency conversions are required, the exchange rate in effect at the time of the transaction, as determined by the Payment Provider, shall apply.
7.4. Unless expressly agreed otherwise, exchange-rate fluctuations and conversion fees shall be borne by the party receiving funds in its local currency.
Taxes, Withholdings and Invoicing
8.1. VIONS Commissions are calculated on the gross amount of the Booking or Project, before any taxes and withholdings that may apply in the Client's or Artist's jurisdiction.
8.2. Each Party shall be responsible for reporting and paying the direct and indirect taxes applicable to it under the laws of its country.
8.3. VIONS may issue invoices for its Commissions and Service Fees, and/or on behalf of the Artist where provided for in the Artist Master Agreement or specific agreements.
Operational Disputes
9.1. In the event of operational disputes, VIONS may offer assistance as a good-faith mediator to help facilitate a solution, without assuming the role of legal arbitrator or guarantor.
9.2. While a dispute is pending, VIONS may temporarily freeze the escrow funds associated with the Booking or Project until: (a) the Parties reach a written agreement; (b) there is an applicable court or arbitral decision; or (c) VIONS makes a reasoned decision on partial or total release.
Fraud, Chargebacks and Security
10.1. If VIONS or the Payment Provider detects indications of fraud, unauthorized use of cards or accounts, or chargebacks, VIONS may suspend the release of funds, reverse transactions, and/or temporarily block Platform access.
10.2. In the event of a chargeback affecting a Booking or Project already settled to the Artist, VIONS may: (a) claim reimbursement from the Artist; and/or (b) offset such amounts against future balances.
10.3. VIONS will implement reasonable security measures to protect the integrity of transactions.
Policy Modifications
11.1. VIONS may amend or update this Payment & Escrow Policy at any time, in accordance with the notification mechanisms set out in the T&C.
11.2. Continued use of the VIONS Platform and participation in new Bookings or Projects after publication of an updated version shall constitute acceptance of the new version.
11.3. This Policy shall be interpreted together with the T&C, the Artist Master Agreement, the Brand/Client Agreement, and the specific Booking Agreements or Project Orders.