Payout Policy

1. SCOPE This Payout Policy describes how, when, and on what conditions The Turbo Yachts ("we", "us") pays Boat Owners and Captains (collectively "Owners") for trips booked through the Platform. It is part of, and incorporated by reference into, our Terms of Service. This policy applies to Owners only. Customers do not receive payouts; amounts owed to Customers (refunds, deposit releases) are governed by the Refund Policy. 2. KEY DEFINITIONS Booking Value Total amount paid by the Customer at booking (base + add-ons + captain fee + cleaning fee + taxes), excluding the security deposit hold. Post-Trip Charges Amounts charged to the Customer after the trip for fuel, damage, overtime, or similar items, per the Refund Policy and Section 7 of the Terms. Gross Settled Amount Booking Value, plus any security deposit amount captured, plus any Post-Trip Charges collected, minus any refund issued to the Customer for that booking. Service Fee The commission Turbo Yachts retains from each booking. Current rate: 15% of the Gross Settled Amount (subject to change with notice). The rate in force when the payout is calculated is snapshotted onto the payout record, so a later change to the rate does not alter payouts that have already been calculated. Eligible Payout Gross Settled Amount minus the Service Fee. 3. PAYOUT ACCOUNT SETUP 3.1 To receive payouts, Owners must complete payout onboarding with our payment processor (Stripe) and provide: - Legal name or registered business name - Tax identification (where required) - A bank account, debit card, or other supported payout method - Proof of identity and any other documents required for anti-money-laundering and know-your-customer compliance 3.2 Payouts are made to the verified account on file at the time of payout. Owners are responsible for keeping payout details current. We are not liable for failed payouts caused by stale account information. 4. WHEN PAYOUTS ARE RELEASED 4.1 Payout-eligibility events occur after a trip enters the COMPLETED state, which happens when: (a) the trip ends and no Post-Trip Charges are submitted within the submission window; OR (b) Post-Trip Charges are submitted and the Customer's 24-hour dispute window closes without dispute; OR (c) Post-Trip Charges are submitted, disputed, and resolved by our Administrators; AND (d) all card captures or shortfall charges have cleared successfully (no Stripe authorization decline, no chargeback pending). 4.2 Payouts are calculated and transferred per booking, not batched. The transfer to the Owner's connected payout account is initiated as soon as the booking reaches the COMPLETED state described in Section 4.1. The time at which the funds reach the Owner's bank account is then set by the payout schedule of our payment processor (Stripe) and by the Owner's bank, and is typically 2 to 7 business days from initiation. 4.3 If an Owner has not finished payout onboarding (Section 3.1) when a booking completes, the payout is recorded as PENDING and is transferred automatically once the Owner's payout account becomes active. Our payment processor may apply its own initial hold to first payouts on a new account. 4.4 Payouts, their status, and the amounts making them up are shown in the Owner dashboard. 5. PAYOUT CALCULATION (WORKED EXAMPLE) Customer paid at booking USD 1,000.00 (incl. USD 800 trip + USD 100 captain fee + USD 100 cleaning fee) Post-Trip Charges (e.g. fuel) + USD 50.00 captured from deposit hold Refund issued to Customer - USD 0.00 ---------------------------------------------- Gross Settled Amount = USD 1,050.00 Service Fee (15%) - USD 157.50 ---------------------------------------------- Eligible Payout to Owner = USD 892.50 These numbers are illustrative. The Service Fee is applied to the whole Gross Settled Amount, including any Post-Trip Charges collected, and payment-processor fees are borne by Turbo Yachts out of its Service Fee rather than deducted separately from the Owner. Actual percentages and fees are those shown on the booking and on the payout record. 6. POST-TRIP CHARGES AND THEIR EFFECT ON PAYOUTS 6.1 The Owner has 48 hours after trip end to submit Post-Trip Charges, supported by reasonable proof (photos, invoices, meter readings). Charges submitted after the window are not eligible for capture from the deposit hold and may be denied. 6.2 If the Customer does not dispute within 24 hours, the charges are deemed accepted and captured from the deposit hold (and, if the deposit is insufficient, charged off-session to the Customer's card, with 3-D Secure / SCA where required). 6.3 If the Customer disputes within 24 hours, the booking enters admin review. Our Administrators may approve in full, approve in part, or deny the charges. The admin decision is final for payout purposes. 6.4 If a Post-Trip Charge shortfall cannot be collected (off-session charge declined and the Customer fails to update payment), the Owner's Eligible Payout for that booking will be reduced by the uncollected amount. 7. REFUNDS, CANCELLATIONS, AND NO-SHOWS 7.1 If a booking is cancelled before trip start under the Cancellation Policy snapshotted on the booking, the Customer is refunded per the Refund Policy and the Owner does not receive a payout for the cancelled portion. 7.2 If a booking qualifies as a Customer no-show (Customer fails to appear, share OTP, or be ready beyond the grace period defined in the Refund Policy), the Owner receives the no-show share stated in the Refund Policy, less the Service Fee. 7.3 If a trip is cancelled by the Owner / Captain (other than for documented safety, weather, or force majeure reasons), the Owner is not eligible for a payout for that trip. Repeated Owner-initiated cancellations may result in suspension and forfeiture of pending payouts. 8. HOLDS, REVERSALS, AND CHARGEBACKS 8.1 We may hold or delay a payout if: (a) the trip is under dispute review; (b) a Customer chargeback has been initiated with the card network; (c) we have reasonable grounds to suspect fraud, identity misuse, or violation of these Terms; (d) we are required to do so by law or by our payment processor. 8.2 If a chargeback is initiated against a payment for which the Owner has already been paid out, we may debit the corresponding amount from future payouts or invoice the Owner for repayment. 8.3 We will share the outcome of any chargeback review and, where we win the chargeback, restore the held amount to the next payout cycle. 9. TAXES (U.S. OWNERS) 9.1 Owners are solely responsible for determining and reporting any taxes - including U.S. federal income tax, state and local income tax, self-employment tax, state and local sales/use tax, and any port, harbor, or marina dues - that may apply to amounts they receive through the Platform. 9.2 To enable U.S. tax reporting, Owners must provide a valid Form W-9 (or, for a foreign Owner permitted to operate under applicable maritime law, Form W-8) and a U.S. taxpayer identification number (SSN, ITIN, or EIN). The Platform, or its payment processor (Stripe), will issue Form 1099-K (or other applicable IRS information returns) when the reporting thresholds set by the Internal Revenue Service are met. 9.3 Where the Internal Revenue Service or applicable law requires us or our payment processor to withhold tax at source (for example, backup withholding for missing or incorrect TIN), we or the processor will do so and reduce the payout accordingly. 9.4 We do not provide tax advice. Consult a qualified U.S. tax professional for your specific situation. 10. CURRENCY 10.1 The Platform accepts payments and disburses payouts in U.S. Dollars (USD) only. 11. MINIMUM PAYOUT THRESHOLD 11.1 We do not apply a minimum payout threshold. Every completed booking generates its own payout, whatever the amount. Our payment processor may apply its own minimum transfer amount or payout schedule to your account. 12. STATEMENTS, RECEIPTS, AND DISPUTES 12.1 Owners can view all bookings, fees, deductions, and payouts in the Owner dashboard. 12.2 If you believe a payout is incorrect, you must notify us within [60] days of the payout date. Claims raised after that period may not be eligible for reconciliation. 12.3 To raise a payout dispute, email info@theturboyachts.com with the booking ID and details of the discrepancy. 13. CHANGES TO THIS POLICY We may update this Payout Policy from time to time. Material changes to commission, payout cadence, or fees will be communicated to affected Owners at least [30] days before they take effect. Continued use of the Platform after the effective date is acceptance. 14. CONTACT Entity: Turbo Yachts Email: info@theturboyachts.com Support: info@theturboyachts.com