NPO Schedule
RUNDOWN
Cayman's Events Platform
NPO Schedule
Supplementary terms applicable to event organizers registered as Non-Profit Organisations under Cayman Islands law. Schedule to the Rundown Merchant Agreement.
| DOCUMENT | NPO Schedule — v1.1 |
|---|---|
| SCHEDULE TO | Rundown Merchant Agreement v1.3 |
| APPLIES TO | Registered Non-Profit Organisations under the NPO Act, 2017 (Cayman Islands) |
| EFFECTIVE | On click-acceptance by Organizer |
Preamble
This Schedule (the “NPO Schedule”) supplements the Rundown Merchant Agreement (the “Agreement”) entered into between Rundown Events, a registered partnership in the Cayman Islands trading as “Rundown”, and the Organizer.
This Schedule applies to any Organizer that is, or holds itself out as, a non-profit organisation, charity, sporting association, religious organisation, community group, professional association, philanthropic organisation, or similar entity for the public benefit, and which solicits contributions from the public within the meaning of the Non-Profit Organisations Act, 2017 (the “NPO Act”).
Capitalised terms used but not defined in this Schedule have the meanings given to them in the Agreement. Where this Schedule conflicts with the body of the Agreement, this Schedule prevails as between Rundown and an NPO Organizer.
1. NPO Registration and Good Standing
1.1 The Organizer represents and warrants that it is registered as a non-profit organisation under section 80 of the Companies Act (or successor provision), or with the Registrar of Non-Profit Organisations at the Cayman Islands General Registry pursuant to the NPO Act, and that such registration is current and in good standing.
1.2 On request, the Organizer shall provide Rundown with its NPO registration certificate, registration number, registration date, the identity of the Controller (as defined in the NPO Act), and evidence of its most recent annual return filing.
1.3 The Organizer shall notify Rundown in writing within fourteen (14) days of any change in its NPO registration status, including any cancellation, suspension, restriction, or change of Controller.
1.4 Rundown may, from time to time, cross-check the Organizer’s NPO registration status against the public register of NPOs maintained by the Cayman Islands General Registry. Where Rundown determines that the Organizer is no longer in good standing as an NPO, Rundown may, without prior notice and without liability: (a) suspend the Organizer’s ability to list new fundraising events; (b) remove the “Registered NPO” badge from the Organizer’s profile; (c) revoke any concessional fee rate granted under section 6; and (d) require the Organizer to provide further documentation before reactivation.
3. Use of Funds and Fundraising Disclosure
3.1 The Organizer represents and warrants that all funds received through the Platform in respect of fundraising events will be applied to the charitable, philanthropic, religious, cultural, educational, social, or fraternal purposes for which the Organizer is registered, in accordance with the NPO Act and the Organizer’s constitutive documents.
3.2 For every fundraising event published on the Platform, the Organizer shall include in the event description, or at a location prominently linked from the event description, a clear statement of: (a) the cause or purpose for which funds are being raised; (b) the proportion of ticket proceeds (after Platform fees and any production costs) that will be applied to that cause; and (c) the contact details of the Organizer for fundraising enquiries.
3.3 The Organizer shall keep proper financial records of all sums raised through fundraising events on the Platform and of how those funds are applied, as required by the NPO Act.
3.4 Where the Organizer’s annual income exceeds KYD $250,000 and more than thirty per cent (30%) of that income is remitted outside the Cayman Islands, the Organizer acknowledges that it is required to have its financial statements reviewed in accordance with international standards, and shall comply with such requirement at its own cost.
4. Occasional Liquor Licence (NPO-Only)
4.1 The Organizer acknowledges that under the Liquor Licensing Act of the Cayman Islands, an Occasional Licence for the sale of intoxicating liquor at a one-off event may be granted only to a registered charitable or non-profit organisation, and that no profits from the sale of intoxicating liquor under such Occasional Licence may accrue to the Organizer or to any other person.
4.2 Where the Organizer applies for or operates under an Occasional Licence at an event listed on the Platform, the Organizer represents and warrants that it is eligible to do so and shall comply with all conditions imposed by the Liquor Licensing Board, including (without limitation) permitted hours and the prohibition on profit accrual.
4.3 The Organizer shall not use the Platform to facilitate the sale of intoxicating liquor under an Occasional Licence except where the Organizer is the genuine beneficiary of the licence and where the proceeds are applied in accordance with section 4.1.
5. NPO Badge and Brand Use
5.1 Subject to verification of the Organizer’s NPO registration, Rundown shall display a “Registered NPO” badge on the Organizer’s profile and on event listings published by the Organizer. The badge is provided by Rundown to assist Purchasers in identifying registered NPOs and does not constitute legal or financial advice to Purchasers.
5.2 The Organizer shall not misrepresent its NPO status on the Platform, in event descriptions, or in any communication with Purchasers.
5.3 Rundown reserves the right to remove the “Registered NPO” badge, with or without notice, where the Organizer no longer meets the requirements of this Schedule, where its NPO registration is no longer in good standing, or where Rundown reasonably believes that the badge is being used in a manner inconsistent with its purpose.
6. Concessional Platform Processing Fee
6.1 Standard Rate and Concessional Rate
Notwithstanding the Platform Processing Fee of six per cent (6%) per paid ticket set out in section 3.2 of the Agreement, Rundown operates an in-app application process by which a Registered NPO in good standing may apply for, and at Rundown’s sole discretion be granted, a reduced Platform Processing Fee of four per cent (4%) per paid ticket on qualifying fundraising events (the “Concessional Rate”).
6.2 In-App Application Process
Application for the Concessional Rate is made entirely through the Rundown Organizer Dashboard. The application flow is summarised below, and the steps and required information may be adjusted by Rundown from time to time:
- Step 1 — Eligibility check. The Organizer must hold an active Tier 3 (Verified NPO) account in good standing, with NPO registration verified against the Cayman Islands General Registry.
- Step 2 — Application submission. The Organizer completes the in-app Concessional Rate application form, providing: (a) a description of the charitable, philanthropic, religious, cultural, educational, social, or fraternal cause that funds raised on the Platform will support; (b) the proportion of net proceeds (after Platform fees and production costs) that will be applied to that cause; (c) the most recent annual return filing date; (d) where available, copies of the most recent reviewed or audited financial statements; and (e) any other information reasonably requested by Rundown.
- Step 3 — Review. Rundown reviews the application against its published eligibility criteria. Rundown may, at its sole discretion, request further information, conduct further due diligence, or refer the application to senior review.
- Step 4 — Decision. Rundown notifies the Organizer of its decision through the Organizer Dashboard and by email. A decision may be: granted in full, granted subject to conditions, deferred pending further information, or rejected with reasons.
- Step 5 — Activation. Where granted, the Concessional Rate is applied automatically to qualifying fundraising events from the date of activation.
6.3 Grant of the Concessional Rate
Where Rundown grants the Concessional Rate, the Platform Processing Fee on qualifying paid tickets sold for qualifying fundraising events shall be four per cent (4%) per paid ticket in place of the standard six per cent (6%). The grant takes effect on the date communicated in the decision notice and applies prospectively only; the Concessional Rate does not retroactively reduce fees already charged or accrued.
For the avoidance of doubt, the Concessional Rate reduces only the Platform Processing Fee. All payment-processor fees under section 3.3 of the Agreement, and any bank, wire, or other transfer fees incurred in remitting payouts to the Organizer, are borne by the Organizer and shall be deducted from amounts otherwise due to the Organizer.
6.4 Conditions, Withdrawal, and Renewal
Rundown may at any time, by reasonable notice to the Organizer through the App or by email: (a) attach reasonable conditions to the grant of the Concessional Rate; (b) revoke or suspend the Concessional Rate where the Organizer ceases to meet the eligibility criteria, where the Organizer’s NPO registration is no longer in good standing, where the Organizer breaches this Schedule or the Agreement, or where Rundown reasonably believes the Concessional Rate is being misused; or (c) require the Organizer to renew its application at intervals not less frequent than annually. Where the Concessional Rate is revoked or suspended, the standard Platform Processing Fee under section 3.2 of the Agreement applies prospectively from the date of revocation or suspension.
6.5 Qualifying Events
The Concessional Rate applies only to fundraising events, defined for the purposes of this Schedule as events for which substantially all of the net proceeds (after Platform fees and reasonable production costs) are applied to the Organizer’s registered charitable, philanthropic, religious, cultural, educational, social, or fraternal purposes. Events that are predominantly commercial in nature, or that do not satisfy the foregoing definition, do not qualify and are charged the standard Platform Processing Fee under section 3.2 of the Agreement.
6.6 No Right to Concessional Treatment
Nothing in this Schedule entitles the Organizer to the Concessional Rate as of right. The grant of the Concessional Rate is at Rundown’s sole discretion and may be varied, suspended, or withdrawn by Rundown at any time in accordance with this section. The Organizer’s eligibility for, and use of, the Platform under standard terms is not conditional on the grant of the Concessional Rate.
7. Charity Vertical, Heritage Week, and Pirates Week
7.1 Subject to verification of NPO status, the Organizer may be eligible for inclusion in Rundown’s charity vertical and, where Rundown elects to operate such hubs, in dedicated hubs for Cayman Heritage Week, Pirates Week, Cayman Carnival, and other cultural or national events.
7.2 Inclusion in any such vertical or hub is at Rundown’s sole discretion and may be subject to additional conditions, including (without limitation) event-quality criteria, partnership requirements with the Cayman Islands Tourism Association (“CITA”) or any other government or statutory body, and adherence to any branding or content guidelines published by Rundown.
8. Compliance with the NPO Act
8.1 The Organizer shall comply at all times with its obligations under the NPO Act, including (without limitation): maintaining proper financial statements; recording all sums of money received and expended; recording all sales and purchases of property; recording all sums raised through fundraising; and filing annual returns with the Registrar of Non-Profit Organisations.
8.2 The Organizer acknowledges that failure to comply with the NPO Act may result in penalties of up to KYD $3,000 imposed by the Registrar, and that such penalties are the responsibility of the Organizer and not of Rundown.
8.3 The Organizer shall promptly notify Rundown of any investigation, enquiry, or enforcement action by the Registrar of Non-Profit Organisations, the Cayman Islands Financial Reporting Authority, or any other competent authority in relation to the Organizer or its events listed on the Platform.
9. Application of Other Terms
9.1 All other terms of the Agreement — including (without limitation) the anti-money-laundering and sanctions compliance obligations in section 6 of the Agreement, the indemnification provisions in section 7.2, the data-protection provisions in section 4.3, and the limitation of liability in section 8 — continue to apply to the Organizer in full.
9.2 This Schedule supplements and does not replace the Agreement. The Organizer’s acceptance of the Agreement is conditional on acceptance of this Schedule where the Organizer is or becomes an NPO Organizer.
Acceptance
This NPO Schedule is accepted electronically during the Rundown onboarding flow by clicking to confirm acceptance of these terms in addition to the Merchant Agreement. By clicking to accept, the Organizer (or the natural person clicking on behalf of the Organizer, who represents that they have authority to bind the Organizer) confirms that they have read, understood, and agreed to be bound by this Schedule in full.
Rundown’s record of the Organizer’s click-acceptance, including timestamp, IP address, user-agent, and the version of this Schedule accepted, is retained in the Organizer’s audit log and is conclusive evidence of acceptance.
— End of NPO Schedule —