New Sellaband terms and conditions

[Lucretia]

OK I see we have some nice important T&C condition changes here. And in true style nice and confusing ones as well.

Haven't read the lot yet but here's the highlights

1. Project fee to Sellaband appears to have increased to 15% from 10% although this is unclear given that the words and figures in the text don't match anywhere
2. You have ONLY TWO WEEKS to withdraw money from the Sellaband system after accepting the new conditions. After this point the only point at which you can withdraw money is within 2 weeks of depositing it or if it's money that Sellaband actually credits to you.
3. Payments to believers will now be credited in Euros.

Interesting questions already raised by this as well. Accepting the T&C would apparently mean you have 2 weeks to get existing money out, but as for declining them.. does this mean you're effectively inactive and hence unable to get any money from projects already completed? Also what happens with existing dollars/dollar balances

[xahmol]

Will not repeat what I already posted in the other thread, but very anxious to see how this works out. For now will not agree the new T&C but will also not confirm deleting my account before I get any answers to my questions.

[thor]

Wow! A great restart, with the new T&Cs being scanned documents, converted to PDF. Great to see that the good old professional Sellaband spirit is still alive ;D

[danny]

Hey, at least they didn't miss the deadline

[Lucretia]

The other fun thing about the T&C is that it states they actually come into force in two weeks anyway if you don't disagree with them.

So one way or another there is definitely only two weeks from now (well when they posted the new t&C) to get questions about them resolved

[kompis]

Did you read 4.12?

Withdrawing of revenues is possible all times. But actually the first sentence makes no sense to me.

[xahmol]

Feb 25, 2010 20:16:19 GMT kompis said:

Did you read 4.12?

Withdrawing of revenues is possible all times. But actually the first sentence makes no sense to me.

Which revenues

Seriously, withdrawing of revenues is possible all times only AFTER accepting the T&C I assume. Something I am not willing to do just yet.

[xahmol]

Oh, and what a crap in the newsletter e-mail on the reason for the changed 4.5:

Especially we want to note that due to financial and banking regulations we were forced to make a change in the T&C regarding the depositing and withdrawal of money in paragraph 4.5 of the Believer Terms and Conditions.

Sorry, but this sounds like complete and utter nonsense to me. Work in the banking sector and never heard of any regulation preventing a company to refund after two weeks.

Of course the real reason is that they want to avoid a 'bank'run whenever newSAB does something we do not like.

[Lucretia]

Feb 25, 2010 20:16:19 GMT kompis said:

Did you read 4.12?

Withdrawing of revenues is possible all times. But actually the first sentence makes no sense to me.

I think someone hit paste rather than replace in their botched T&C editing.

To me the word "money" should have been replaced by "revenues gained on the platform" rather than being appended on the end.

[jayne]

On the Artists pdf they have "85% (ninety)". They haven't been proofread that well.

I don't recall some of the terms in that one either.

[grooveduke]

@ xahmol. Yes, exactly. A run is what they're going to have for the next two weeks. But after that, anything left in the trust stays there. Bad for me as a believer and as an artist trying to get people to trust the platform. But good for the platform.

I won't be wasting anymore time trying to get people to trust Sellaband. I don't need it.

But Lu, I still want a way to network with European fans in hopes of an eventual tour. Can I stick around on the board? (Will the board Stick around?)

[missy]

Ah, how nice: another new era, with again fresh T&C. Collegue Johan just called me not to sign them, and I must confess that of what I heard, and read here, changes are not toooo good for believers that are willing to support acts.

But like mazzarak I just have parts left in acts that made the goal, I took the rest of my money back last summer. I already had no intention to buy parts anymore, this is another incentive not to do so.

[cat]

This is the message that Johan Jongerius (TalentCast) has just sent to SellaBand on behalf of the whole crew:

Hi,

Probably you know that TalentCast is a radio project that supports independent music from SellaBand and MySpace.

We still have to study the new Terms and Conditions in full, but for now we have to comment on one of the points:

For our whole team it's unacceptable that it's not possible to refund money that is deposed for longer than 2 weeks on our profiles at SellaBand back to our own bank accounts. We will inform our (over 1000) members that TalentCast won't support these new Terms and Conditions.

Johan, MissY, Catself

[kompis]

I guess the period of two weeks applies to German Fernabsatzgesetz (Distance Selling Act). But it's actually for consumer protection: you can withdraw from a contract within two weeks without giving reasons.

Makes no sense in this context.

[danny]

Kompis: it does, if they see themselves as the customers