This policy forms part of the Terms and Conditions. Capitalized terms have the meanings assigned there. References to the “First Party” and “Administrator” are as identified therein. By creating an account on galry.net, you agree to this policy. In the event of any inconsistency, the Terms and Conditions prevail.

1. Activities Tab

• The Activities tab in the Account page does not create financial rights or obligations. It is provided solely for informative purposes and serves as a record of publishing activities and their corresponding outcomes. It is not a stored balance, account statement, bank, wallet, or ledger. No entry in the Activities tab shall by itself create any contractual or legal right to claim any sums. The amounts displayed in the Activities tab cannot be spent, whether wholly or partially, for purchases on the Website or elsewhere on the Internet. Users do not have the option of top-up, and no amount can be transferred in-between users’ Activities tabs.

2. Publishing Proceeds

• All instances of Rights Acquisition are treated as Accepted Offers. 
• Publication Offers are deemed accepted only when Acceptors make their Rights Acquisitions by entering the Publisher’s Publication Key in the designated field on the Website interface where new licenses are activated.
• Prospective Proceeds shall be as specified in the Extended License for every Accepted Offer, subject to reversal in the case of Unsuccessful Distributions.
• Upon maturation into Net Proceeds, the amount shall likewise be as specified in the Extended License for every Successful Distribution respectively.
• Disbursement of Net Proceeds for Successful Distributions is contractually due in accordance with the Agreement.
• No Disbursement shall be made for Unsuccessful Distributions.

3. Timeframe

• Disbursements are effected at the direction of the Administrator following the conclusion of each Accounting Period.
• Reasonable efforts will be made to effect Disbursements promptly once due. However, processing times may vary depending on applicable government policies and the policies of third parties such as financial institutions, as well as other factors beyond the control of the First Party or the Administrator, including but not limited to accounting, compliance, reporting, and legal requirements.

4. Conditions

• Disbursements Tab: Funds shall be remitted to the personal bank account linked by the user within the “Disbursements” tab of their Account page, provided such account is held in their verified legal name and located in their verified country of primary residence. Third-party, offshore, or non-verified accounts are strictly prohibited. The account title must exactly match the identity documentation provided during the Know Your Customer (KYC) process.
• Conditions Precedent to Vesting: For the avoidance of doubt, no right to receive any Disbursement shall vest, and no Disbursement shall be deemed “due,” “owing,” or a “debt,” until the user has fully satisfied the following conditions to the sole satisfaction of the Administrator:

1. Maintained a valid, active galry.net account in good standing. Good standing is defined as full compliance with the Terms and Conditions, with no pending investigations for fraud, AML violations, or material breach;
2. Successfully linked a verified bank account in their own name via the galry.net portal;
3. Completed all required identity verification (KYC/AML) and sanctions screening;
4. Complied with all applicable laws, regulations, and the Terms and Conditions, as amended.

• Mandatory Claim Period: Net Proceeds that are contractually available for release must be claimed within the Mandatory Claim Period as defined in Section 22 of the Terms and Conditions. To claim a Disbursement within this period, you must maintain your account in good standing, satisfy all applicable KYC/AML requirements, and link a valid bank account via the Disbursements tab. Failure to satisfy these conditions before the expiry of the Mandatory Claim Period shall result in the relevant Net Proceeds being marked as Expired, and the right to receive the corresponding Disbursement shall be permanently extinguished without further obligation on the part of the First Party.
• Adjustments and Withholding: All Net Proceeds from Successful Distributions are eligible for Disbursement, subject to the following:
  • Banking Costs: Any returned or rejected transfer fees, or intermediary banking charges, shall be deducted from the Net Proceeds or the Disbursement, as applicable.
  • Compliance Holds: Disbursements may be declined, suspended, or revoked where compliance or regulatory requirements are not satisfied.
  • Liquidated Damages: In the event of a material breach (including but not limited to fraud, identity misrepresentation, or violation of sanctions), the First Party may permanently cancel, forfeit, or claw back Disbursements as liquidated damages. The parties agree that such action represents a genuine and reasonable pre-estimate of the administrative, legal, and operational costs incurred by the First Party to investigate and remediate such breach, and is not a penalty.
• User Responsibility: The user is solely responsible for the accuracy of provided information. The First Party assumes no liability for funds lost due to incorrect account details provided by the user.

5. Currency Conversion

• Where currency conversion is required, the Disbursement shall be calculated using the exchange rates applied by the Administrator’s payment processor or financial institution at the time the transfer is initiated. The First Party and the Administrator shall not be liable for any discrepancies, fluctuations, or additional conversion fees applied by intermediary banks, the receiving bank, or any third-party financial institutions. The user acknowledges that the final amount received may differ from the calculated Disbursement due to such third-party rates and fees.

6. Pending vs. Net Proceeds

• Gross Publishing Receipts: The sale considerations, after deduction of transaction charges, payment gateway charges, and any applicable taxes on transactions, constitute the Publisher’s Gross Publishing Receipts. From such Gross Publishing Receipts, the First Party shall apply, in the following order, all amounts due and payable under this Agreement, including but not limited to: (a) royalties and license fees to original copyright owners; (b) licensing fees, professional fees, management fees, and other contractually due charges; and (c) costs and expenses directly incurred in connection with Publishing, including, without limitation, content delivery, hosting, CDN costs, production, printing, shipping, and fulfillment. The balance remaining after such deductions constitutes the pre-tax Net Proceeds, which shall be subject to Disbursement in favor of the Publisher in accordance with this section and applicable laws. Any residue remaining thereafter shall represent the Administrator’s reimbursement for costs and administrative overheads incurred in maintaining and operating the publishing system.
• Status of Proceeds: Amounts reflected within the “Activities” tab of the Account page are for informational purposes only and may include “Pending Proceeds” or other entries that do not constitute a debt, a vested right, or a contractually due amount.
• Eligibility for Disbursement: Disbursements are strictly limited to Net Proceeds that have been fully verified, cleared of all potential reversals or offsets, and are standing for release in accordance with the Terms and Conditions.
• Conversion of Pending Proceeds: Any “Pending Proceeds” shall only become eligible for Disbursement if and when they satisfy all conditions to be reclassified as Net Proceeds (including, but not limited to, the expiration of any applicable refund, chargeback, or holding periods). The Administrator reserves the right to recalculate or void any Pending Proceeds or Net Proceeds in the event of a reversal, error, or identified breach of the Terms and Conditions.

7. Refunds, Returns, and Chargebacks

• Holding Periods and Reversals: Disbursements are effected only after the expiration of the Minimum Holding Period (as defined in the Terms and Conditions) and the clearing of all potential refund, reversal, or chargeback windows.
• Post-Disbursement Invalidation: In the event of a refund, reversal, cancellation, or chargeback (a “Reversal Event”) occurring after a Disbursement has been effected:

• Right of Offset: The First Party may deduct the full amount of the Reversal Event, plus any associated administrative fees, bank penalties, or processing costs, from any current or future Net Proceeds or Disbursements.
• Direct Recovery: If no future Disbursements are pending, the user shall, upon written demand, immediately remit the full amount of the Reversal Event and associated costs to the Administrator.
• Liability: The user remains personally liable for all Reversal Events, regardless of whether their galry.net account remains active or in good standing at the time of the Reversal Event.

• Administrative Fee: The Administrative Fee shall be equal to the greater of $35.00 (USD) or the actual costs and penalties imposed by the financial institution, plus a 15% processing surcharge.

8. Force Majeure and Delays

• Commercially Reasonable Efforts: The First Party and the Administrator shall use commercially reasonable efforts to effect Disbursements in a timely manner. However, Disbursements may be delayed, paused, or deferred due to factors beyond their reasonable control, including but not limited to:
  • Internal or external compliance reviews, audits, or investigations;
  • Changes in legal, accounting, or regulatory requirements;
  • Failures in third-party banking systems or telecommunications; and
  • Force Majeure events (e.g., natural disasters, war, or systemic financial instability).
• Limitation of Liability for Delays. Neither the First Party nor the Administrator shall be liable for any indirect, incidental, or consequential loss, costs, or damages (including loss of profit or opportunity) arising from a delay in effecting a Disbursement. Under no circumstances shall interest or late fees accrue on any funds held or delayed pursuant to this policy.

9. Invalid or Non-Compliant Publishing

• No Disbursement shall be effected for any publishing event that is not conducted in the Prescribed Manner or that is made without activating an Extended License.

10. Activities Tab Entries

• Internal Accounting Only: The terms “Issue” and “Settle” are defined in the Terms and Conditions (the Agreement) solely for the purpose of the Administrator’s internal record-keeping and do not constitute, imply, or represent “settlement” or “issuance” as defined under any payment-system, accounting, or securities regulations.
• The “Settle” Entry: Whenever an “Issued” entry no longer represents an amount available for release — regardless of whether this is due to an effected full or partial Disbursement, an Unsuccessful Distribution, reversal (due to a refund or chargeback), clawback, withholding (compliance), forfeiture (breach), system adjustment, lapse, expiry, or deduction — the Administrator shall record a “Settle” entry in the Activities tab.
• Resolution of Entries: The recording of a “Settle” entry serves as the final administrative resolution of the corresponding “Issued” entry. For the avoidance of doubt, a “Settle” entry recorded due to an Unsuccessful Distribution, reversal (due to a refund or chargeback), clawback, withholding (compliance), forfeiture (breach), system adjustment, lapse, expiry, or deduction extinguishes the user’s right to receive the corresponding funds and does not result in a full or partial Disbursement. Upon the recording of such an entry, any corresponding funds shall revert to the First Party, and the user shall have no further claim, right, or interest in such amounts.

11. Deductions

• Subject to applicable law, all required deductions shall be applied to the Disbursement before the funds are released. These deductions include, but are not limited to:
  • Governmental: Withholding taxes, stamp duties, value-added taxes (VAT), and other statutory levies;
  • Banking: Transaction fees, intermediary banking charges, and wire transfer costs;
  • Operational: Currency conversion fees, administrative expenses, and third-party processing fees.
• No Gross-Up: The First Party and the Administrator are not obligated to increase or “gross-up” any Disbursement to compensate for these deductions. The user acknowledges that the amount hitting their receiving account will be the net amount after all such charges.
• Liability: Neither the First Party nor its agents shall be liable for any shortfall in the received amount resulting from deductions applied by third-party financial institutions or government agencies.
• Example: If the Disbursement amount is 1000 USD (or equivalent) and total applicable deductions are 300 USD (or equivalent), then 700 USD (or equivalent) will be released to the user’s receiving account.

12. Clawback and Recoupment

• For a period of three (3) years following any Disbursement, the First Party and the Administrator reserve the right to claw back or recoup any amounts resulting from:
  • Fraud, misrepresentation, or intentional misconduct by the user;
  • Over-remittance due to accounting, clerical, or system errors; or
  • Additional deductions required by subsequent changes in applicable law, tax regulations, or court orders.
• Methods of Recovery: The First Party may, at its sole discretion:

1. Offset: Deduct the required amount from any current or future Net Proceeds or Disbursements;
2. Demand: Require the user to remit the full amount within fourteen (14) days of a written demand; and/or
3. Recover Costs: In cases involving fraud or material breach, recover all reasonable costs of investigation and enforcement, including legal fees.

• Survival: The clawback and recoupment rights set out in this section shall survive the termination, expiration, cancellation, or rescission of this Agreement, the deletion, suspension, or closure of the user’s account, and any substitution of the First Party, and shall remain in full force and effect for the duration of the three-year period calculated from the date of the relevant Disbursement, regardless of the circumstances giving rise to the end of this Agreement or the user’s account.

13. Tax Obligations and Indemnity

• User Responsibility: Subject to applicable law, and regardless of any statutory withholdings or deductions made by the First Party, the user remains solely and exclusively responsible for the accurate assessment, filing, reporting, and payment of all applicable taxes — including but not limited to income tax, sales tax, VAT, or digital service levies — arising from their use of the Extended License or the receipt of any Disbursements.
• Indemnification: The user agrees to indemnify, defend, and hold harmless the First Party, the Administrator, and their affiliates and representatives from and against any and all liabilities, claims, interest, penalties, or legal costs (including professional advisor fees) resulting from the user’s failure to fulfill their tax obligations or any misrepresentation of their tax status.
• Information Sharing: The user acknowledges that the First Party may be legally required to report Disbursement data to relevant tax authorities and agrees to provide any necessary tax identification numbers upon request. Such reporting may be conducted without further notice to the user where required or permitted by law.

14. No Professional Advice or Relationship

• Information Only: All contents of this policy, and any information provided within the Website, are for general informational purposes only. They do not constitute, and shall not be interpreted as, legal, tax, financial, accounting, or other professional advice.
• User Responsibility: The user acknowledges that their specific circumstances are unique. Users are strictly encouraged to seek independent advice from qualified professionals (such as a licensed attorney or a certified tax advisor) before making any decisions. Any reliance the user places on the information provided herein is at their sole and exclusive risk.
• No Relationship Created: Neither this policy nor the use of the Website shall be construed as creating any professional, advisory, fiduciary, partnership, or joint venture relationship between the user and the First Party or the Administrator.
• Accuracy Disclaimer: Information is provided on an “as is” and “as available” basis. The First Party makes no warranties regarding the accuracy, completeness, or timeliness of such information and assumes no liability for any errors or omissions.