Payment & Withdrawal Terms
Effective Date: July 1, 2025
1. Payment Processing and Fund Receipt
All payments made by employers for services posted on AcademyLite are processed directly through AcademyLite’s authorized payment processors, including but not limited to PayPal Business accounts operated by AcademyLite. These payments are received and controlled by AcademyLite and credited internally to the respective freelancer’s platform account balance.
2. Internal Balance Tracking
AcademyLite maintains an internal ledger reflecting each user’s current account balance based on payments received, fees deducted, and withdrawals made. This internal balance is a record-keeping mechanism and does not constitute AcademyLite holding funds in escrow or in trust on behalf of users.
3. Withdrawals by Freelancers
Freelancers may request withdrawals of their available balance at any time, subject to the platform’s minimum withdrawal limit. Upon request, AcademyLite initiates payout transfers via the supported payment processors to the payment method designated by the freelancer. AcademyLite reserves the right to verify identity and account information before processing withdrawals.
4. Timing and Processing of Withdrawals
Withdrawal requests are generally processed within 3 to 7 business days after submission and approval. AcademyLite is not responsible for delays or failures caused by payment processors, financial institutions, or external factors beyond its control.
5. Fees and Deductions
AcademyLite deducts applicable platform fees, commissions, and processing fees from all payments before crediting freelancer balances or processing withdrawals. All fees are disclosed in the platform’s Commission & Fee Policy.
6. Refunds and Dispute Resolution
In the event of a dispute or refund request, AcademyLite reserves the right to withhold withdrawal processing and conduct an investigation in accordance with the platform’s Refund & Dispute Policy. AcademyLite may reverse or deduct disputed amounts from freelancer balances as necessary.
7. No Custodial or Escrow Services
AcademyLite does not operate as a custodian or escrow agent and does not hold funds in trust. All payments received by AcademyLite are owned and controlled by AcademyLite until disbursed to freelancers. Internal balances are solely for record-keeping and do not represent fiduciary holdings.
8. Compliance and Security
AcademyLite and its payment processors operate in compliance with applicable financial laws, anti-money laundering (AML) regulations, and industry standards. AcademyLite employs security measures to protect user payment data and transactions.
9. User Obligations
Users must provide accurate and current payment information, comply with platform policies, and promptly report any suspected fraudulent activity or unauthorized transactions. AcademyLite disclaims liability for losses due to inaccurate user information or negligence.
10. Limitation of Liability
AcademyLite’s liability for payment processing and withdrawals is limited to acting as a facilitator of transactions. AcademyLite is not responsible for acts or omissions of payment processors or third-party institutions. Users acknowledge that AcademyLite does not guarantee payment outcomes beyond facilitating transfers.
