The AlGooru Financial Policy and Procedure Manual provides the policies and procedures for financial transactions within the business which must be followed by all staff. It also provides guidelines AlGooru will use to administer these policies, with the correct procedure to follow.
AlGooru will keep all financial policies current and relevant.
From time to time it will be necessary to modify and amend some sections of the policies and procedures, or to add new procedures.
These policies and procedures apply to ().
I. INAUGURATION
This payment policy shall be followed entirely to ensure a smooth processing of payments between AlGooru’s students and tutors.
It shall include the following:
Responsibilities of AlGooru app administrators.
We use a payment gateway that controls the flow of payments;
A payment scheduling will be provided below.
Our guarantees only work for deals that are arranged via our app.
We do not interfere in the deals between tutors and students.
AlGooru is a service provider, and all tutors are a third party and not employed by the company.
II. TABLE OF CONTENTS
A. Payables duration and due dates
Tutors due diligence
Payments to tutors are always settled after the completion of session(s), and under the condition that our terms are met.
Tutors must provide full information of their personal bank, so AlGooru can transfer the money smoothly.
Payment to tutor shall be made within X days of the completion of session(s).
Note: after the payment is initiated from AlGooru, the time to receive a tutor’s money varies depending on the tutor's location and bank.
Minimum amount to be transferred to tutors must be 250SAR.
2. Students due diligence
By using our services students are agreeing to our terms and conditions:
Payment shall be made the same day the session is completed in full amount.
After the completion of the session, AlGooru representatives will send an invoice to be paid using Mada or debit/credit card.
To respect tutors' time and efforts, AlGooru applies late payment policy fees (to be adjusted upon updating the late payment rules)
AlGooru has a strict delayed payment policy that applies a penalty fee of $20 USD to a student’s overall amount should they fail to comply with the indicated deadline found on the top of their invoice. We apply such a penalty to ensure our tutors are well-compensated for their efforts, since they’ve already offered to provide the service received for no upfront payment.
B. Third Party Agreements(TBD; concerned with the payment gateway)
Disclaimer of third party agreement
Guarantees and use of private information
C. Saudi Legalities
This payment policy should follow and comply with the Saudi Ministry of Commerce and Investment.
III. PROCEDURE
A. Payment Gateways
Tap/ Western union etc..
Payment mechanism for each
B. Cancellation Request
AlGooru ensures fair treatment of both its tutors and students, hence both parties are required to meet the below:
Cancellation procedure for each tutor and student
1 day of the session: the session shall be cancelled and no fees will apply.
<4hrs before the session: the student is required to pay half the amount of the session to ensure the tutor is fairly compensated.
After the session: no cancellation is accepted and full session amount is expected to be paid.
Payment Policy
