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Frequently Asked Questions On Compensation Plan

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Frequently Asked Questions On Compensation Plan

Post by anandnaidu.mvt on Wed Dec 10, 2008 5:15 pm

Hello Leaders

Below i have listed a few commonly asked questions on Compensation Plan.

Q1:How do I qualify to earn Binary cycle commissions in the weekly compensation plan?
Ans:In order to be qualified to earn commissions in the binary compensation plan, you must personally sponsor two representatives into the business. One of these personally sponsored reps must fall on your right leg and one on your left leg. Once you have sponsored one person your status is “Producer” and when you have sponsored two people, you have reached the status of “Team Builder.”

Q2:Do I have to meet a monthly volume requirement to earn commissions in the weekly compensation plan?
Ans:There is no monthly requirement in order to receive weekly commissions.

Q3:What is “banking volume?”
Ans:Banking volume means that the company allows you to keep, or “bank,” volume earned in your group until you have accumulated enough volume to trigger a team commission cycle bonus. Volume is not flushed at the end of the pay period or at the end of the month, but banked until you earn a team commission cycle bonus check. Once a team commission cycle bonus is triggered, any volume left over and not used is then banked and used towards the next team commission cycle bonus . This is provided that you remain with active status.

Q4:When do I start banking volume?
Ans:Once you have one personally sponsored representative on a leg with at least 120 PSV, you will start banking volume on that leg. The same applies to the other leg. When you have one personally sponsored rep on the first leg, your status is Producer. When you have at least one personally sponsored rep on each leg with at least 120 PSV, your status is Team Builder. You must remain active to continue banking volume.

Q5:What is the Fast Start Retail Bonuses?
Ans:A $15 Fast Start Retail Bonus is paid on the sales volume generated by the personal sales of The MyVideoTalk India Total Video Solutions Package. There is no limit to the amount you can earn in Fast Start Retail Bonus!

Q6:What is the Team Builder Bonus?
Ans:Once you enroll 2 representatives, one on the left and one on the right, who make sales/purchases of at least 120 PSV you are qualified to hold volume in each team leg as long as you remain active and you are now also eligible to earn Team Builder Bonuses. A $10 Team Builder Bonus is paid on the sales volume generated by the sale of every MVT India Total Video Solutions Package. This bonus is paid to the first Qualified Team Builder above a personally enrolled representative in the line of sponsorship.

Q7:How do I earn the Executive Bonus?
Ans:You achieve Executive status once you help 2 personally sponsored representatives achieve Team Builder status (one on the left, one on the right). Once you achieve Executive status, you will receive a $125 Executive Bonus.

Q8:How is a team cycle commission bonus calculated?
Ans:A team cycle commission bonus consists of 360 WSV on one leg and 720 WSV on the opposite leg. It does not matter which leg the 360 WSV and 720 WSV are on, meaning that one time the 360 WSV may be on the left and the 720 WSV on the right and the next time this may be reversed.

Q9:How much do I earn on each team commission bonus?
Ans:For each team commission cycle bonus you earn $100. The company then matches this with a Matching Bonus profit sharing check of up to fifty (50) percent, so you earn up to $150 for each 360 WSV / 720 WSV combination in your group.

Q10:How often are commissions paid?
Ans:Commissions earned in the weekly compensation plan are paid weekly (every Friday) with a two-week lag.

Q11:How will I receive my commissions?
Ans:Commissions are paid Via a Company Check from either Axis Bank or ICICI Bank --payable at par.

Q12:Where can I track my commissions?
Ans:You may track your commissions on your replicated website by accessing your My Office Business Back Office through the “member login” link. There you will be able to view your Genealogy, Orders, Volume Totals and Carryover, Commissions and Earnings, Personally Enrolled Representatives and more.

Q13:In the Volume Totals in my “My Office” area, I see PSV, WSV, and GSV. What do these terms mean?
Ans:The PSV shows the amount of volume that you personally produce. The WSV shows the amount of weekly volume that your team has produced. The GSV is the total of your group volume.

Q14:What volume is assigned to the initial enrollment plans offered to new reps?
Ans:The MVT India Total Video Solutions Package is assigned 120 in volume.

Q15:Is there an annual renewal?
Ans:YES. There is an annual renewal fee of Rs2000.00 ($50USD) that is due exactly one year from the date that you joined.

Q16:How do I remain active?
Ans:By paying an annual maintenance fee of Rs2000.00 ($50USD).

Q17:Terms and conditions to qualify for the "Leadership Rewards Plan".
Ans:Simply achieve Leadership Rewards rank title and recognition pin by earning the stated number of cycles in any given week. To obtain Prizes in the Leadership Rewards Plan, you will need to cycle 4 consecutive weeks and personally sponsor 1 new representative as well. All prizes will start at the Bronze Level and then go forward. You can only receive 1 prize per 4 week period and level prizes are not to be combined. In the case one of the prize gifts is no longer available, discontinued or out of stock, Corporate reserves the right to replace that prize with an equivalent value prize of its choice. For qualifications made in other countries that do not have any of our specific prizes listed. Corporate will give you a similar prize of its choice (with the same value) from your country. Your status with the company must be in good standing at the time the gift is given. The representative is responsible for paying all taxes, licensing fees and any other government associated taxes or fees prior to receiving your prize. All Prizes are final and can not be changed, substituted, or altered by a representative. The company reserves the right to change any awards at any time, without any prior notice from the company.

*Effective 28 July, 2008 forward

Q18:Terms and conditions to qualify for the "Area Sales Office Program".
Ans:1) To Qualify for the “Area Sales Office Program" you will need to achieve 50 group sales in your immediate region for four consecutive weeks in a row. This will give you the eligibility to apply for your Area Sales Office Bonus. 2) Once you've achieved this qualification, you will need to go contact support and get the confirmation and approval and can then begin to set up your area sales office. 3) The Lease for the office must be in the name of the qualified representative only. The lease agreement must include the following: Name of Landlord and full contact information, the amount of security deposit that is being requested by the Landlord, and the amount of monthly rent that is being charged by the Landlord. Please send Certified Photocopies of the lease agreement to the India offices. 4) The Company will pay 50% of your security deposit up to USD $2,500. Company will also pay your monthly lease up to USD $700 per month. You will be responsible for paying any amounts that go over the stated amounts by Team Effort International.
4A - You will be required to maintain 50 area group sales per week per calendar month for a total of 200 qualified group sales (coming from your immediate region only). If you have not fulfilled these requirements, than you are subject to paying 100% of your monthly lease for that particular month and any other months that qualification is not met by you and your team. 4B - If in the previous month you did not qualify with 50 group sales per week per calendar month for a total of 200 qualified group sales (coming from your immediate region only) but do so the following month, the Company will resume paying your monthly lease up to USD $700.

*Effective 28 July, 2008 forward

Q19:Terms and conditions to qualify for the "Presidents Weekly Club".
Ans:To Qualify for the "Presidents Weekly Club" you will need to achieve this status by earning the stated amount through weekly cycle commissions. This amount will need to be obtained in 1 weekly cycle check and can not be from combining cheques to reach said amounts. You are eligible to qualify 1 time for this promotion per level! Each level requires a separate qualification and can not be combined at any given time. Upon completion of the level, please contact support. The representative is responsible for paying all taxes, licensing fees and any other government associated taxes or fees prior to receiving your prize. The company reserves the right to change any awards at any time, without any prior notice from the company. *Effective 28 July, 2008 forward


If you have any other query on the compensation Plan submit your query as a reply to this forum thread and we will reply to it As Soon As Possible.

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Re: Frequently Asked Questions On Compensation Plan

Post by sumanrani on Mon Dec 15, 2008 7:01 pm

Hello!
What is the procedure to sponsor and register an IR from outside India Plan?Do we get any more benefit? e.g. signing up somebody from ASEA under me in India Plan ?

Regards,
Suman
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Re: Suman

Post by anandnaidu.mvt on Mon Dec 15, 2008 7:58 pm

Hello Suman

The procedure is the same.

Yes you do have some extra benefits for your recruits there.

Like
$1000 USD FOUNDERS BONUS !!!

In the first 30 days of their Enrollment, if they Achieve Executive Status and help Two Personally Enrolled (Left & Right) also Achieve Executive Status =
$1000 USD BONUS

Promotion valid till prelaunch phase ends for the Asian Market.

Anand Naidu
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Re: Frequently Asked Questions On Compensation Plan

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