Buyer's Premium Billing
Buyers premium is billed twice each month and is based on the date that the affiliate has processed the bidder invoices. Every bidder invoice processed from the 1st - 15th of each month will be compiled and invoiced from K-BID on the 20th of that same month. Similarly, each bidder invoice processed from the 16th - end of the month will be compiled and invoiced on the 5th of the following month.
The process date for each invoice can be found on the List Invoices page within the auction. For example, these invoices would be included on the invoice sent out on 6/20/2015.
The following chart may help explain the billing process.
Affiliates will be Billed
For Invoices Processed
|5th of Each Month||16th - the end of prior month||25th of same month|
|20th of Each Month||1st - 15th of current month||10th of following month|
BP invoices are calculated based on the invoices that have been processed by the affiliate within these billing periods. Invoices will be sent via email and can be paid online using the following link: https://www.billandpay.com/go/kbid
Affiliates are required to submit payment for their BP invoices by the due date indicated on the invoice. If for some reason there will be a delay in submitting the BP payment, the affiliate is responsible for notifying K-BID (email@example.com )prior to the invoice due date. The email should contain the BP invoice number, the reason an extension is being requested and a reasonable timeline for submitting the payment. K-BID will contact the affiliate to discuss the issue further. Failure to communicate this information to K-BID will result in the suspension of the affiliate's publishing privileges after the due date passes. In most cases the suspension will be temporary, as soon as the BP invoice is paid, publishing privileges will resume. However, affiliates who have a history of being suspended for late payments, will be required to activate auto pay within BillandPay. K-BID will determine when the cost/benefit of maintaining the affiliate relationship no longer makes sense.
Affiliates with outstanding invoices of more than 30 days past the due date, who have not responded to our communications and attempts to contact them, will be terminated.
BP Billing Reports
BP billing reports are accessible on the affiliate dashboard and will show you which invoices have been processed for each billing period. It is important to realize that this information will not be included on the invoice that you receive from K-BID, rather you should use this report to verify that the numbers are correct. If you notice a discrepancy with your BP Billing Report and the Invoice that you received from K-BID, please contact us at firstname.lastname@example.org.
To access your BP Billing Report, navigate to the affiliate dashboard and select the Reports tab.
Select Buyers Premium by Billing Period and use the drop down to select the billing period to view.
You will notice that this report will show you every invoice that has been processed within that period, the date which it was processed, and the total amount that you can expect on the bi-monthly invoice from K-BID.