Document version: affiliate.v1-2026-07-15
This Affiliate / Referral Partner Agreement (the "Agreement") governs your participation in the Venture Insights referral program. Venture Insights is the trading brand of Al-Ufuq Al-Riyadiah for Business Services Co., a company registered in the Kingdom of Saudi Arabia under Commercial Registration No. 4030527575 and VAT No. 311845887300003, of Al-Baterji, Jeddah 23521, Kingdom of Saudi Arabia ("VI", "we", "us").
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1. Independent referral partner
You participate as an independent referral partner. Nothing in this Agreement creates an employment, agency, partnership, or joint-venture relationship, and you have no authority to bind, contract, price, or make representations on VI's behalf. You introduce prospective clients to VI; VI alone decides whether to engage them and on what terms.
2. Qualifying referrals
A referral qualifies for a commission only when ALL of the following hold: (a) the referred party is a new customer — an email not already present in VI's contacts/CRM at the time of first touch; (b) the referral is attributed to you on a last-touch basis within a 90-day attribution window from first touch to their first paid engagement; and (c) it is the referred customer's first paid engagement with VI. Commission is one-time per referred customer. Self-referrals are prohibited (§7).
3. Commission
For a qualifying referral, you earn a one-time commission of 10% of the NET (VAT-exclusive) revenue VI actually collects on the referred customer's first paid engagement. The rate applied to your commission is the rate in effect at the time it accrues, and is fixed to that commission once accrued. VI may change the prospective program rate on notice; a change never re-prices a commission already accrued.
4. Maturity & payout
A commission accrues when the referred customer pays. It matures 30 days after that payment (a hold that protects against refunds and chargebacks). Matured, unpaid commissions are settled in a monthly payout run once your matured balance reaches the minimum of SAR 500; balances below the minimum roll forward. Payouts are made by bank transfer to the account you provide, and are recorded in-app with a pro-forma payout statement.
5. Tax (VAT / ZATCA)
You are solely responsible for your own tax position and for any tax due on your commissions. If you are VAT-registered, you must issue VI a ZATCA-compliant tax invoice for your commission plus VAT before payment; VI accounts for the payout ERP-side. If you are not VAT-registered, VI issues you a pro-forma statement and no VAT is added. You must provide accurate legal name, VAT-registration status, VAT/CR numbers where applicable, and bank (IBAN) details at onboarding and keep them current.
6. Clawback on refund or reversal
If the paid engagement that earned a commission is later refunded, charged back, or otherwise reversed, the corresponding commission is clawed back — reversed if not yet paid, or deducted from your next payout (or otherwise recovered) if already paid. VI may withhold or reverse any commission connected to fraud, incentivised or misleading promotion, or breach of this Agreement.
7. Conduct & self-referral prohibition
You may promote VI only truthfully and lawfully, using approved materials, without spam, trademark misuse, paid search on VI's brand terms, or misrepresenting your relationship with VI. You may not refer yourself, your own or an affiliated organisation, or engineer a referral to your own benefit; such referrals are disqualified and may result in suspension.
8. Term, suspension & governing law
VI may approve, decline, suspend, or terminate your participation at its discretion. Suspension or termination does not forfeit commissions already matured for genuine qualifying referrals accrued before termination, subject to §6. This Agreement is governed by the laws of the Kingdom of Saudi Arabia, with the seat of any dispute in Jeddah.
