This price list is effective 8 March 2022
For Organisers
- The CompassVirtual (CV) Fee is $1.50 per head capped at 10% of the entry fees charged for each session. There is no need to collect the playing fees of members if the Organising club has activated Compa$$ cashless bridge - these fees will come directly out of the entrants' club wallets. Under this pricing structure the Fee kicks in after the Entry Fee exceeds $15. Commission charged when Entry Fee is up to $15 will be calculated at 10% of funds collected - beyond $15 entry fee it becmes $1.50 a head. The commission is invoiced at the end of each month when collected entry fees are remitted to Clients. The commission is deducted from the amount collected before remittance.
- By way of example, CV was used for the Nelson 5A Teams on 12-Mar 2022. Entries were closed at 20 teams which was 80 players, 48 of whom were full or associate members of Nelson. Nelson is a Compa$$ club so the $20 entry fee was taken from the Nelson wallets of those 48 players. The remaining 32 players deposited funds in their CV wallets from which CV lifted $680. The entry fee being over $15, the $1.50 a head commission kicked in and Nelson was billed $51. As anyone who has had the task of managing entries and payments would know, this would seem excellent value.
- It is the responsibility of the Organiser to check Player solvency using the Validtaion tool. It cannot be said that CV has "collected" payment from someone whose wallet has been run into a debit situation by CVC taking playing fees. Unless this is remedied by month end the amount remitted to the Organiser of an event or events in which an insolvent player has taken part cannot be passed on.
For Players
Playing Sessions
- A player pays the Entry Fee charges set by the Organiser for participation in a session. There are no additional CVC fees for players.
Closing of a player CVC Wallet
- Funds may be transferred to another player's CVC Wallet free of charge.
- When the player CVC Wallet is closed by CV Admin the full balance will be refunded to the Wallet holder's bank account.