Brokering Commissions

Functionality discussions and feature requests

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seanrphl
Posts: 17
Joined: Fri Apr 15, 2005 8:26 pm
Location: Philippines

Brokering Commissions

Post by seanrphl »

Hello again! I've been trying to check out the brokering feature. I've set the commission percentage and number of transactions. I restarted all the services (mysql, tomcat) and did some test transactions with dummy users but the commissions didn't go to the broker. I double and triple checked if I did something wrong, but there seems to be none.

Is there something that I am missing? Here's what I did (there are already 3 dummy users, 1 broker, 1 member of the broker, and 1 user who will pay the member of the broker)

1. I set the brokering transactions at 1, then the commissions at 50%, which I assume will be given to the broker by deducting 50% from the transaction fee paid for by the seller to the community account. Then I enabled brokering.

2. I set the transaction fee to be paid for by the seller at .25%. The I enabled transaction fee.

3. Restarted the services.

4. Logged in as user to pay the member of the broker.

5. Paid that member the amount of 100 units.

6. Logged out.

7. Logged in the as broker and checked account. No commission reflected which I think should be 50% of 0.25 units (0.25% of the 100 units paid for). Should be .12 or something (more accurately at .125 but cyclos only allows 2).

Or is there something wrong with the steps I made? (I hope so) :)

hugovanderzee
Posts: 98
Joined: Wed Apr 06, 2005 9:56 am

Post by hugovanderzee »

Hi seanrphl,

I tested the function with the same settings and for me the broker commission was done correctly.
Did you create the new member (using the broker function) after you enabled the broker commision?
Just for clearity, the broker that registers a new member will receive the broker commission calculated on the first 'x' amount of transactions the new member does. When this commission is paid the broker will not receive commissions related to this member anymore. It is a one time bonus.
Hugo van der Zee
Cyclos development team

seanrphl
Posts: 17
Joined: Fri Apr 15, 2005 8:26 pm
Location: Philippines

This is how it goes?

Post by seanrphl »

Hello!

Lemme put what you have posted into the following steps:

1. Put all the settings first required for cyclos as based on organizational policies such as fees, configuration, broker commissions, taxes before adding (do not add yet any member at all to cyclos)?

2. Restart the system.

3. Start adding users who shall add members for the brokering section?

This means that I have to put the settings first before accepting members? :)

Thanks.

hugovanderzee
Posts: 98
Joined: Wed Apr 06, 2005 9:56 am

Post by hugovanderzee »

Yes exactly. Before you start adding members you must choose the system configuration. This can be totally different. For example you configure Cyclos can have a mutual credit type of LET system or a Barter system. To swich from one to another on a system with existing groups and members can cause problems. We suggest to examine carefully all options before starting.
Hugo van der Zee
Cyclos development team

seanrphl
Posts: 17
Joined: Fri Apr 15, 2005 8:26 pm
Location: Philippines

Thanks!

Post by seanrphl »

Thanks for the input. Now I have to be more prudent and conduct due diligence in system settings before doing any transaction with cyclos.

As they say, haste makes waste. :wink:

rinke
Posts: 87
Joined: Thu Mar 31, 2005 4:54 pm

Re: Thanks!

Post by rinke »

seanrphl wrote:Now I have to be more prudent and conduct due diligence in system settings before doing any transaction with cyclos.
Please note we have a special starters package on the project site (http://project.cyclos.org/en/starters.html); especially the document "tips" has an entry on what to check before first use (http://project.cyclos.org/en/tips.html#53)
________________________
Rinke Hoekstra
cyclos project team,
STRO.

mohsin
Posts: 27
Joined: Mon Jun 27, 2005 11:06 pm
Location: Melbourne - Australia
Contact:

Post by mohsin »

Hi Rinke

Wonderful ... much appreciated information.

Cheers
Mohsin Jaffer
Services4u Pty Ltd
Melbourne - Australia

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