How do I transfer Royalties?
TLDW:
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Go to Cubee Trust & sign in.
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Fill the month, designers & products you've sold.
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Input payment details & pay 10% of your sales
*Remember to exclude shipping and third-party fees, and calculate your royalty payment.
In the Video:
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Dashboard: Learn how to reach HiveTrust through your Hive dashboard to pay royalties.
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HiveTrust: Understand Hive's royalty-based system for Hive+ and HiveUnlimited users.
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Payment Details: See how to input sales data, and transfer the payment.
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Why do I Need to Pay Royalties?
To sum it up:
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It's a win-win. HiveTrust royalty system benefits both designers and sellers.
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It enables limited access. Each catalog has only 50 seats. This reduces competition and puts focus on quality over quantity.
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It protects the exclusivity of the files. Hive verifies each seller to maintain design protection.
How do I calculate the royalties I need to pay?
The HiveTrust software will calculate your 10% automatically.
You need to make sure you deduct the shipping/packaging cost from your sales, as well as third-party fees (like Etsy's cut form your sales). This way you only pay royalties for your net sale price.
Be sure to deduct from your reported sales price:
Shipping cost
Packaging expences
Third-party fees
When do I Pay the royalties?
At the start of each month, report the sales you’ve made in the previous month, and pay royalties for these sales.
Watch the short vid to learn more.
What if I don't Pay Royalties?
In this Video you will learn When it is acceptable not to pay royalties, and when it is not acceptable not to pay royalties.
