Tounca LLC (“we,” “us,”, “our”, or “Tounca”) guarantee to all Experts as subcontractors that they will be paid for their work if it is confirmed. Security deposit is required by Tounca for all Clients through the Tounca Marketplace Platform, except in using of virtual company feature (“Virtual Company”) and it is a binding legal agreement between you and Tounca. Tounca’s Security Deposit (“Security Deposit”) requests are based on planned engagement or project, and are never requested based on anyone’s race, national origin, ethnicity, sex, gender identity, or age.
This Security Deposit Policy (“Deposit Policy”) specifically applies to:
This Deposit Policy will be used together with the Cancellation and Refund Policy, Pricing and Fees Policy, Terms and Conditions (“Terms”) and other terms and policies.
Security Deposit is money that Clients give as a proof if intent that they will start with the project or other service and as a guarantee that subcontracted Experts will be paid after finished work.
Security Deposit is refundable according to the Cancellation and Refund Policy. A Security Deposit is intended as a measure of security for the engaged Expert(s) as subcontractor(s) and can also be used to pay for planned project activities, unpaid work or licenses, refunds for issues suffering by Expert, or other fees, in accordance with the Cancellation and Refund Policy, Pricing and Fees Policy, and Terms.
As a Virtual Company accordance with the Virtual Company Policy is a process where Expert uses Tounca only for invoicing and eventually for publishing or project management tools, and not for finding the clients, that Tounca doesn’t guarantee for payment between Expert and its Client. As there is not guarantee obligations, that Tounca doesn’t require Security Deposit for this kind of Clients.
Security Deposits are paid before starting with project phase or if not related with the project, before starting with the service engagement. These deposits are typically the same amount as (i) the planned amount for the related project phase, (ii) the planed amount for the planned service, or (iii) the monthly (or other contracted period) engagement; but it may be higher if Client wants it.
A Security Deposit might be used to pay for planned project activities, unpaid work or licenses, refunds for issues suffering by Expert, or other fees, in accordance with the Cancellation and Refund Policy, Pricing and Fees Policy, and Terms.
The usual procedure with the Security Deposit is to be used for the payment for regular activities. Trigger for the payment to subcontracted Expert(s) from the Security Deposit is (i) confirmed phase by the Client if it was project activity, (ii) confirmed task if it was simply task activity, or (iii) finished contracted period (month, week, or similar) if it as periodically engagement. From the moment of confirmation or from the end of period, status of Security Deposit will be changed, and it becomes regular payment for service or license.
Tounca will provide information about this event to the Client through the Tounca Marketplace Platform or/and via email. If there is another project phase or constantly periodically service, this event will automatically trigger requirement for the next Security Deposit. Process is additionally disclosed in the Engagement and Payment terms.
If there’s a Project or Service Issue suffered by the Expert according to the Sections 1.2 and/or 2.2 in Cancellation and Refund Policy, Expert can report an issue and submit a request for payment from the security deposit within 14 days of from the reporting the issue.
If Client cancel project, project phase, or other service and requires Security Deposit refund, Tounca will first provide payments for all calculated fees from this Security Deposit, according to the Sections 3.1 and/or 6.3 in Cancellation and Refund Policy; and after that refund unused amount of Security Deposit.
Refunding the Security Deposit is disclosed in the Cancellation and Refund Policy. Only exception from the Cancellation and Refund Policy if the Client from some reason paid bigger amount, then needed. It can be confirmed on the end of the project phase, or if not related with the project, on the end of service engagement, and it will be treated as the unused portion. In this case Tounca will refund confirmed unused portion in maximum 30 days after transfer from Security Deposit to regular payment.
All payments, including security deposits, should always be made through Tounca Marketplace Platform. Don’t ever exchange money outside of the Tounca website. If you paid for engagement of Expert(s) outside of Tounca, you may have paid for a fraudulent activities. To get help, let us know immediately.
If an Expert on the Tounca Marketplace Platform or outside of platform (via email, chat, or similar) asks you to pay off site or through another company, report it to us. You won't receive a paper or PDF invoice from an Expert or from Tounca asking you for such a payment. If an Expert uses any of these terms, report them: Western Union, MoneyGram, cashier's check, money order, Liberty Reserve.
Never share your email address before an agreement is signed and you have dedicated Expert(s) from Tounca, or transfer funds outside the Tounca system, and always carefully examine emails claiming to be from Tounca. If you eventually receive suspicious email from Tounca, let us know immediately reporting it to our Customer Service.