QuidMusic
QuidMusic is an escrow agent that holds electronic funds to be disbursed by instruction, or otherwise refunded. It facilitates the exchange of funds provided by a musician's fans upon a new release by the musician (constituting at least one digital audio file).
A musician is defined as a registered user of the QuidMusic website that has indicated themselves as a producer of digital audio files by specifying a URL to a website where these are described.
A musician's fans are defined as those users of the QuidMusic website that have indicated their wish to pledge funds to the musician identified in the hyperlink to the QuidMusic website that appears on the musician's website.
It is a matter for the fans to establish the authenticity of the musician's website, e.g. that it is the official website of the musician it purports to represent.
It is a matter for the musician to ensure they are an approved agent if they are representing someone other than themselves.
QuidMusic makes no representations as to the authenticity, quality, fitness, availability, legitimacy, freedom from encumbrance, of a work released by a QuidMusic musician.
It is a matter solely for the fans to establish whether or not they wish to instruct QuidMusic to deliver funds in exchange for the release of the musician's work.
QuidMusic accepts responsibility for providing accurate information to the musician concerning the funds currently pledged to them, the proportion of the funds that are liquid and able to be delivered to them, should they make a new release.
QuidMusic accepts responsibility for delivering the funds pledged to the musician at the time that they make a new release, no later than 28 days after the release (or the availability of the funds if later) if interest is not to accrue.
QuidMusic accepts responsibility for ensuring that the musician's release constitutes at least one audio file, however it cannot accept responsibility for ensuring this file is able to be effectively or legally delivered to the fans.
QuidMusic will not permit a musician to release more frequently than once in any seven day period.
QuidMusic charges an effective commission of 15% on revenue arising from releases. Otherwise it makes no charge. Deposits and refunds via NoChex are free (QuidMusic absorbs the handling fee). Withdrawals by cheque are free. Account closures are free.
QuidMusic respects its users' privacy.
QuidMusic records user details for the purposes of identification and facilitating the escrow process, i.e. exchanging funds upon the release of digital audio files. Some user details may be provided with the user's consent to other users, e.g. to musicians to which they have pledged. User details will not be passed outside of the business, nor provided for the use of third parties.