A question usually asked is How does our referral fee work?
We work on a success-based model.
This means we put a relatively high number of hours into a project to ascertain the probability of success. This also means talking to you, briefly consulting, advising, data gathering, formatting the opportunity resume, and then distributing the same to our solution providers.
Once we are confident that a solution provider is reasonably eager to work with you, we will then have you sign a referral agreement.
The referral agreement makes it a point that we would get specific, mutually agreed referral fees ‘should’ you decide to sign-up with the solution provider that we introduce you to. Once you sign the referral agreement, we do the introduction to the solution provider. It is now up to you and the provider to assess each other and see if a business fit exists.
To ensure that you are indeed serious about your project, we do have a one-time application fee (this is non-refundable). This is based on the time we invest in prepping your opportunity and finding a solution for it.
The referral fee must also be paid (partially) in advance. It can vary from 25%, 50% to 100% depending on the total amount.
Some examples:
- If the Professional Referral Fee is $ 7,500, then a 100% refundable advance is required.
- If the Professional Referral Fee: $18,000. A 50% refundable advance is required; the balance is to be paid upon signing with the solution provider.
- Referral Fee: $28,000. A 25% refundable advance is required at the signing of the referral agreement, a 25% balance is to be paid once due diligence is completed (or 30 days have passed), and balance 50% balance to be paid on signing with the solution provider.
If you sign up with the solution provider, the referral fees are then due to us. If you don’t sign up with a solution provider, the referral fee is refunded in full.
If you have any questions/comments about this. Please feel free to ask.
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This page was last updated on November 5, 2023.
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