IGT's two fees
IGT charges two fees in a partnership:
| Fee | What it is | Usual amount |
|---|---|---|
| RWA fee | Shows the parties' commitment and protects them if one of them defaults. | Up to USD 2,800 per partnership. |
| Success fee | Charged for the completed deal. | Usually 2% of the total contract value. |
Do not confuse them with intermediary commissions: those are paid by each party to its own intermediaries, and IGT does not charge them. See Intermediaries and their commissions.
The RWA fee
RWA stands for Ready, Willing and Able. With this fee the parties show their will and commitment to carry out the contract. It is up to USD 2,800 per partnership, and can be less. Each project states it up front, so you know the cost before you apply.
When it is paid: when the contract is signed.
Who pays it: one of the parties, or both in equal shares. An IGT administrator proposes it and agrees it with the party who pays, or with both.
What it is used for:
- Part of it keeps the platform running.
- The other part protects the parties: if the contract is not carried out because one member did not meet their obligations, the share that the defaulting member paid goes to the member who did, as compensation.
It is not money lost: if the deal is completed, the RWA fee is deducted from the success fee.
The success fee
The success fee is a percentage of the total contract value, charged for the completed deal.
- It is usually 2%, the rate chambers of commerce commonly recommend.
- It can be higher if the parties agree to it.
The percentage and who pays it are set out in the contract. The RWA fee already paid is deducted from the success fee.
How you receive invoices
- An IGT administrator prepares the invoice as agreed (amount, currency, description and due date) and sends it to the party, or parties, who must pay it.
- You receive a notification, and the invoice appears in the Invoices tab of your Workspace.
In the Invoices tab you only see the invoices addressed to you. You do not see your partner's invoices, nor invoices that are still being prepared.
Paying an invoice
Follow the payment instructions on the invoice before its due date. When IGT receives the payment, the invoice is marked as paid.
Other invoices
Your coordinator can also create invoices for other concepts agreed in the partnership. They appear in the same tab.
Questions about an invoice
If an amount does not match what was agreed or you need a correction, open a support ticket and mention the invoice number.
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