payment acknowledgement

‍PAYMENT ACKNOWLEDGEMENT

Customer agreed to contract certain services from oolu pursuant to a customer agreement between Customer and oolu (the “Services”) whereby oolu matched Contractor to Customer to fill an independent contractor position with Customer (the “Job”).

Customer has entered or will concurrently enter into a written independent contractor agreement with Contractor for the Job.

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Payment Process

Customer will pay oolu and Contractor for the Services and the Job, respectively.

Customer will ensure all funds required to fully pay both oolu and Contractor for the relevant payment period are in a bank account accessible by oolu’s third-party payment processor (the “Account”).

Every Monday or thereabout, oolu’s payment processor will:

• Place a hold on the funds in the Account for payment in relation to the Services and the Job for that week; and
• Withdraw funds from the Account for payment in relation to the Services and the Job for the previous week (if any).

oolu shall retain the portion of the funds payable to oolu for the Services and shall promptly pay to Contractor his, her, or its respective share of the funds by direct deposit into Contractor’s bank account using oolu’s payment processor or any other method as agreed to by oolu and Contractor in writing from time to time.

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Non-Payment and Insufficient Funds

oolu is not responsible for collecting funds due to Contractor.

Although oolu may notify Contractor in writing if it notes a lack of funds or adequate funds in Customer’s account, oolu is not liable if Customer does not have any or adequate funds in its account for payment due to Contractor.

In the event Customer is in default of any payment due to oolu and/or Contractor:

• Customer shall incur a Cdn$100 non-sufficient funds fee, immediately due and payable to oolu; and
• oolu may attempt to withdraw the requisite funds from Customer’s credit card on file and/or arrange for its payment processor to further attempt to withdraw funds from the Account.

oolu will not pay Contractor until all required funds have been deposited by Customer into the Account.

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