1. Accepting The Merchant Terms and Conditions
1.1 What is it?
The following sets forth the merchant terms and conditions upon which a Host or Vendor can use the Services to create, promote and collect sales for selling tickets to an event or for participating in an Event as a paid Vendor. By accepting these Terms, you agree to the Merchant Terms and Conditions. PartyShark uses Stripe as their payment processing platform. PartyShark and users of PartyShark including but not limited to Hosts and Vendors are subject to and bound by the following payment processor agreements: Stripe Services AgreementStripe Connected Account AgreementPartyShark processors may be added or changed at the sole discretion of PartyShark.
1.2 Additional Information
You may be required to provide additional information (beyond the information required to sign up) about yourself, the entity you represent (if any) and the principals/beneficial owners of the entity you represent (if any) (collectively, "Additional Registration Data"). As an example, the Additional Registration Data may include your address, doing business as (DBA) names, bank account or other payment account information, Tax ID like an EIN or Social Security Number, date of birth, passport or drivers license number, country of origin, copies of identification documents and/or other information. This information may be used to verify your identity, the validity and/or legality of your transactions and/or whether you qualify to use the Services for paid events. You agree to: (a) provide this information in a timely, accurate and complete manner and (b) maintain and promptly update this information in a timely manner to ensure it remains accurate and complete at all times.
1.3 Any Disclosures
Hosts and Vendors authorize PartyShark to share Registration Data and other information relating to your events and transactions with Stripe and/or other such third parties, to the extent your transactions or events involve such third parties.
1.4 Payment Process and Payouts
PartyShark uses Stripe’s Connect Platform to manage payment processing and payouts. The platform facilitates the direct payment from Users to Hosts and/or Vendors who are attending events, paying vendors for services, and tipping. As a result, Hosts and Vendors will be required to create a connected account with Stripe to facilitate such processing. The activity happens during the creation of the first paid event, the setup of a new Vendor or through the Settings->Payout feature. Payments made by Users are held by Stripe and will be available as a payout 5 days after the event takes place through the User’s Wallet. For the avoidance of doubt, transactions and payments happen between Hosts, Vendors, and Users. PartyShark facilitates the transactions through Stripe on behalf of the various parties. Host and Vendors agree that a payment made by a User that is processed through PartyShark will be considered the same as a payment made by a User directly to the Host or Vendor.
1.5 Chargebacks, Reversals, and Penalties
Hosts and Vendors are solely responsible for chargebacks, reversals, and penalties. In the event that their account does not have sufficient funds to cover chargebacks, reversals, or penalties, PartyShark reserves the right to clawback those funds, establish a setoff against funds collected for future events, or take other collection and/or other legal measures necessary to recoup such funds including but not limited to the legal costs or collection fees associated with the needed actions.
1.6 Currencies and Exchange Rates
Payment processing fees associated with currency exchange are a sole responsibility of the Host, Vendor, and/or User.
PartyShark refunds Users when they cancel tickets outside of the 24 hour window, when Hosts cancel their events, when legitimate disputes are made (such as fraud), and/or at the discretion of PartyShark. In the event PartyShark is unable to refund the User on behalf of the Host due to an invalid card, a card issuer decline, or for other reasons, the Host is still responsible for refunding the User and must seek an alternative method to achieve this.
Users, Hosts, and/or Vendors are solely responsible for determining which, if any, sales, use, amusement, value added, consumption, excise and other taxes, duties, levies and charges (collectively, "Taxes") apply to your use of the Services and to sales you make using the Services. You agree that it is your sole responsibility to, and that you will, collect and remit the correct amounts of all such Taxes to the applicable governmental authorities (“Tax Authorities”). PartyShark does not represent, warrant or guarantee that any tax tools or tax calculators (“Tax Tools”) provided to you will meet all tax requirements that may be applicable to you or that such Tax Tools will result in your collection or remittance of all applicable Taxes, which Taxes may vary based on the nature of your event, the nature of your tax status (individual, entity, business, consumer, etc.), your location, the location of your Users, credits and deductions for which you may qualify and other factors, and you hereby release PartyShark from any and all liability with respect to your use of the Tax Tools. None of such Tax Tools should be considered legal or tax advice.
PartyShark cannot give you legal or tax advice, so please be sure to check with your own tax advisor about any applicable Taxes. In the event that a Tax Authority requires PartyShark to pay any Taxes attributable to your use of the Services or to sales you make using the Services, you agree to promptly and fully reimburse PartyShark for such Taxes upon demand and all costs, penalties, interest and expenses related thereto.
(1) Notwithstanding the preceding paragraph, PartyShark may, in certain jurisdictions, be required to collect and remit Taxes on PartyShark Service Fees and PartyShark Payment Processing Fees (“PartyShark Fees”) to the Tax Authorities. In such jurisdictions, PartyShark will collect from you Taxes on PartyShark Fees, and you agree to pay such Taxes. PartyShark may, at its sole election, invoice you for Taxes on PartyShark Fees or withhold (from amounts it would otherwise pay to you) the amount of Taxes on PartyShark Fees. With the exception of Taxes on PartyShark Fees that PartyShark collects from you pursuant to this paragraph and Taxes collected and remitted pursuant to paragraph (ii) in this section, you remain responsible for collecting and remitting the correct amount of any Taxes that apply to your use of the Services and to sales you make using the Services.
(2) In addition, due to recent changes in the IRS regulations, if PartyShark processes transactions and issues you payouts of at least six hundred dollars ($600) in gross sales during a given calendar year and in the aggregate across all of your accounts, PartyShark is required to report to the IRS (i) the gross amount of transactions for which you have been paid in that calendar year and in each month of that calendar year; (ii) your name; (iii) your address; and (iv) your Tax Identification Number ("Your Tax Information"). As part of these IRS regulations, PartyShark is required to either (A) collect Your Tax Information at your first paid published event; or (B) establish that you are a foreign person not subject to Form 1099-K information reporting. You also agree that upon request you will furnish an IRS Form W-8 establishing your foreign status.
(3) PartyShark reserves the right to withhold the payment of any amounts owed to you hereunder and dispose of them as required by applicable local, state, provincial, national or other law, rule, regulation, judgment or order, in each case as determined by PartyShark, or to seek later payment from you of any amounts on taxes uncollected and unremitted, related to your events.
If your account has had no activity for a period of time set forth in applicable unclaimed property (e.g., escheatment) laws and we hold funds related to your account, then we will notify you as required by applicable laws. If you do not claim your unclaimed funds within the timeframe notified to you, then we will escheat them to the applicable governmental authority in accordance with applicable laws.
1.10 Merchants who are Prohibited
By registering for the Services and accepting these Merchant Terms, you represent and warrant that:
(1) you are not located in, and you are not a national or resident of, any country to which the United States has embargoed goods and/or services of the same type as the Services ("Restricted Countries");
(2) you are not a person or entity or under the control of or affiliated with a person or entity that:
(a) appears on the U.S. Office of Foreign Assets Control's Specially Designated Nationals List, Foreign Sanctions Evaders List or Palestinian Legislative Council List;
(b) appears on the U.S. Department of State's Terrorist Exclusion List;
(c) appears on the Bureau of Industry and Security's Denied Persons List; or
(d) is subject to sanctions in any other country; and
(3) you are not listed in the MasterCard MATCH terminated merchant database or Visa terminated merchant file and your right to access each Card is not presently revoked or suspended.
If you fall into any of the categories set forth above, as determined by PartyShark in its discretion, you are a "Prohibited Merchant."
1.11 Events that are Prohibited
You may not create events or engage in activities that:
(1) violate or facilitate the violation of any applicable local, state, provincial, national or other law, rule or regulation;
(2) take place in Restricted Countries; and
(3) contain any Content (as defined in the Terms and Conditions) that would violate the Terms, or the PartyShark Community Guidelines.
Any Event that falls into any of the categories set forth above, as determined by PartyShark in its discretion, is a "Prohibited Event."
1.12 Transactions that are Prohibited
You may not use PartyShark and their processor to process any of the following transactions and you represent and warrant that you will not submit for processing through the Services:
(1) any transaction that would violate or is considered "high risk", including any transaction regarding adult-related content or activities, illegal goods or services including cannabis, or the paraphernalia associated with any illegal goods or service, purchase of crypto-currency, raffles, sweepstakes, or gambling;
(2) any transaction that is fraudulent or criminal in nature;
(3) any transaction that would constitute a "restricted transaction" as defined in the Unlawful Gambling Enforcement Act of 2006 or Regulation GG; and
(4) any transaction that would constitute sending money to another party other than for the purchase of bona fide tickets, for services legally rendered by Vendors, or tips for those Vendors.
Any transaction that falls into any of the categories set forth above, as determined by PartyShark in its discretion, is a "Prohibited Transaction."
In the event that PartyShark discovers that you are a Prohibited Merchant, that you have posted a Prohibited Event and/or that you have attempted to process or processed a Prohibited Transaction, then PartyShark may take any or all of the following actions in its discretion in addition to any and all remedies that PartyShark may have under the law or elsewhere in the Terms of Service:
(1) suspend or terminate your PartyShark account;
(2) alter, edit, or remove any Prohibited Event or any portion thereof;
(3) block, reverse or refund any or all of your transactions;
(4) hold any and all funds associated with your account to the extent required by applicable local, state, provincial, national or other law, rule, regulation, judgment or order; and
(5) refer you, your events and/or your transactions and information relating to the same (without further notice to you) to our Payment Processing Partners, the Card Schemes, the Alternative Form of Payment Frameworks and/or applicable law enforcement agencies for further action.