COCOM PAYMENT POLICY
Last update: 02 March 2021
As a community oriented company, we value transparency. For any feedback on how we can improve your experience please contact firstname.lastname@example.org.
This Cocom Payment Policy applies to any and all payments with respect to the Cocom mobile software application (hereinafter the “Cocom App”) offered by The Space Behind BV, with registered office at Eduard Van Steenbergenlaan 48, box 2, 2100 Antwerp (Belgium), with company number 0733.609.812, RPR Antwerp, email@example.com (hereinafter “Cocom”).
- Free reservation requests
Checking the availability of an accommodation is free of charge. So long as the Host does not accept a Guest’s reservation request, the Guest will not receive a payment invitation. Once the Host accepts a Guest’s reservation request, such Guest will receive a payment link. A booking can only be confirmed once the payment is completed. Check our Cancellation and Refund Policy to view the options after booking.
- Cocom Fee for Guests
Unless indicated otherwise, the Services and use of the Cocom App is free of charge for Guests. Guests only pay the Total Price, as displayed in the Cocom App when confirming a reservation, to the Hosts. Hosts, in turn, pay a commission to Cocom.
- Cocom Fee for Hosts
Besides creating added value for our Users we also apply a fixed service fee to keep our business up and running (the Cocom Fee, as defined in the General Terms and Conditions which can be consulted on our website www.cocom.be). The Cocom Fee is included in, and part of the Total Price as displayed on the Cocom App. Consult the Cocom App, our website or contact our team for more information.
- Administration fees
Just like any proper company we need to maintain our back office and manage our administration. This results in administration costs which include internal costs and costs we pay to third parties. Each confirmed reservation which is booked as a result of a successful payment contains an administration fee of minimum 6%. Like our Users, Cocom doesn’t like surprises when it comes to fees. Therefore, we have decided to include such administration fee in the Cocom Fee as depicted on the Cocom App. The Cocom Fee, in other words, is an all-inclusive fee.
- Third party payment provider
Cocom works with trusted third parties to enable online payment in order to make a reservation. However Cocom is not liable for any errors on behalf of third parties should such any arise. Third party payment providers might charge costs depending on your choice of payment. These costs are not included in the Total Price of your reservation and are on behalf of the payment provider.
- Pay-outs for Hosts
Hosts will receive a pay-out option once the total earnings reach the amount of minimum EUR 100. A pay-out can be requested once each calendar month.