Rocket Credits - Vendor Redemption Program
Redemption of Credits Accepted by Vendors as Partial Payment
- IF you as a Vendor accept Rocket Credits as partial payment for your products or services,
- THEN Apricot Rocket will reimburse you for the $ value of Rocket Credits that you accept as partial payment,
- AT THE RATE of $0.50 USD for each 100 Rocket Credits.
EXAMPLE:
Presume that in June 2019 you sell $2,500.00 of products that are purchased by customers to whom you offered a 20% Rocket Credits ‘discount’.
That would mean that you would have collected $2,000.00 in $USD and $500 in Rocket Credits, or 50,000 Credits.
Apricot Rocket will purchase those 50,000 Credits form you for $250.00 on July 15th, 2019, or the first business day thereafter.
Your Net Discount would therefore be only $250.00, or 10% after Redemption.
Redemption of Tokens Purchased by Vendors from Apricot Rocket
- IF you as a Vendor purchase RKTT Tokens from Apricot Rocket, Inc.
- THEN, you as the Vendor making the RKTT Token Purchase will have the right to redeem the RKTT Tokens purchased under the following Redemption Scheule:
- 100% $USD Value – IF Redeemed within 30 days from date of purchase.
- 10% $USD Value Reduction – for each 30 day additional time period expiring before redemption.
- 50% $USD Value Minimum – this is the minimum redemption value for RKTT Tokens purchased by Vendors.
EXAMPLE:
Presume that on June 15th 2019 you as a Vendor purchase $500 worth of RKTT Tokens which equals 50,000 RKTT Tokens. Your Redemption Value would be as follows:
- $500.00 until July 15th, 2019, then
- $450.00 from July 15th, 2019 until August 15th, 2019, then
- $400.00 from August 15th, 2019 until Sept. 15th, 2019, then
- $350.00 from Sept. 15th, 2019 until Oct. 15th, 2019, then
- $300.00 from Oct. 15th, 2019 until Nov. 15th, 2019, then
- $250.00 starting on Nov. 15th, 2019 and thereafter.
NOTE:
Apricot Rocket reserves the right to modify the Redemption Program terms and conditions at any time with 30 days advance notice.
Any modifications will be active 30 days after the notice has been made.
Notice of Redemption Program modification can be made via email, or posting on the Redemption Program Terms & Conditions page.
You must file a Redemption Request by the 5th day of each month if you want to request a redemption of RKTT Tokens you accepted from Customers during the prior month.