"Most people have the will to win, few have the will to prepare to win."

Bobby Knight

TERMS AND CONDITIONS

  1. IDENTIFICATION AND PUBLICATION
    1. Passive Incomes is a trust, Passive Incomes Trust IT 942/07, registered in South Africa.
    2. The magazine “Passive Incomes” is a publication of the Passive Incomes Trust and is marketed through a dynamic relationship marketing program.
    3. Subscribers will receive a copy of the magazine monthly by mail.
  2. PRICING AND COMPENSATION
    1. The monthly price of the magazine to subscribers is R50.00 per issue.
    2. Commissions of R25.00 is paid to subscribers every month according to the marketing and compensation plan published by Passive Incomes from time to time.
    3. Compensation is paid in a 5x7 matrix of subscribers with an expansion option once the first 3 levels are filled.
    4. Subscribers that pay annually in advance will receive compensation on a 5x8 matrix.
  3. TERM
    1. The subscription is for an initial twelve month subscription period.
    2. The initial twelve months start with the first day of the month in which the subscriber receives his or her first issue of the magazine.
    3. The initial twelve months end on the last day of the 11th month following the month in which the subscriber received his or her first issue of the magazine.
  4. CANCELLATION AND RENEWAL
    1. The subscription will renew and extend automatically for a further 12 month subscription period at the end of every 12 month subscription period unless canceled as provided for.
    2. Cancellation will only be accepted in writing and must reach passive incomes before the first day of the last month of any given 12 month subscription period, failing which the automatic renewal in (4.1) will apply.
  5. PAYMENTS
    1. The subscriber irrevocably authorises Passive Incomes to debit his or her bank account or credit card with the monthly/annual subscription fee every month/year.
    2. This authority will remain in force for as long as the subscriber remains a subscriber of Passive Incomes.
    3. Commissions are paid to subscribers at the end of each month following the month in which Passive Incomes successfully receive subscriber payments.
  6. TAXATION AND INCOME TAX
    1. Subscribers accept all responsibility in terms of Taxation on commissions earned in terms of this agreement and explicitly agree to indemnify Passive Incomes against any and all claims arising from such subscriber's liability to declare income and/or pay tax.
  7. DISPUTES
    1. Should any dispute arise between Passive Incomes and the subscriber or between subscribers or any other dispute incidental to the subscription it will be settled by mediation and if needed legally binding arbitration as provided for in the Dispute Resolution Process published by passive incomes from time to time.
    2. The parties irrevocably agree that the outcome of any such arbitration may be made into an order of any court of competent jurisdiction within the Republic of South Africa.
  8. ALTERATIONS
    1. Passive Incomes reserve the right to reasonably extend the magazine or magazines and products at any time and to adjust pricing and the compensation plan accordingly.
    2. Furthermore the trustees and directors reserve the right to alter these terms and conditions from time to time for the benefit of Passive Incomes or the subscribers.
    3. Any changes to the terms and conditions will be effected and communicated to subscribers by publication in the magazine and on the website www.passive-incomes.co.za

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