Trust allows us to cooperate.

Trust is at the core of how we work together. We've intentionally designed every aspect of our operations to prioritize transparency, security, and responsible handling of the voluntary contributions made by our users to artists. Below, we'll provide a detailed look at how we've designed trust into wearecoral.

Corporate Structure

wearecoral operates as an Australian proprietary limited company (Pty Ltd). We operate multiple bank accounts that maintain a clear separation between the funds allocated for artists and the platform fees that constitute revenue for the company.

How We Handle Your Coral Payment

When you subscribe to wearecoral, your payment undergoes a transparent allocation process to ensure that funds are distributed safely and efficiently:

1. Your contribution is a single fixed amount. Payment processing is deducted from it, never added on top.
2. The remaining funds are allocated as follows:
   • 10% (incl. GST) is transferred to the company revenue account to cover platform operations.
   • The remainder constitutes the voluntary creative contribution.
3. Voluntary creative contributions are securely managed to ensure they reach the intended artists:
   • All contribution funds are held in a dedicated, segregated bank account, separated from the company's operational funds.
   • At the end of each month, contributions for onboarded and verified artists are safely transferred directly to their nominated accounts.
   • Funds for artists yet to be onboarded remain securely stored in the segregated account, safeguarded until the artist is successfully onboarded.

By maintaining separate bank accounts for artist funds and platform fees, wearecoral ensures a clear distinction between the money allocated for artists and the company's revenue.

Artist Outreach and Distribution

As part of the service provided by the platform, the wearecoral team actively engages in outreach to inform artists of user contributions made to their ongoing creative work. Artists who wish to receive these contributions can sign up to the platform, verify their identity and relationship to the artist profile, and securely receive the funds.

In the event that an artist cannot be contacted, is unresponsive, or declines the contribution after a period of 9 months, the funds will be credited towards the user's future monthly subscription. If the user has closed their account, the funds will be donated to a music-related charity.

By implementing these clear and transparent processes, wearecoral ensures that user contributions are handled responsibly and that artists receive the backing they deserve.

Terms and Conditions

Our terms and conditions clearly outline the agreement between wearecoral, artists, and users. They specify that:

• User contributions are voluntary and do not create any employment, contractual, or agency relationship between the platform and the artists.
• wearecoral acts as a facilitator, securely holding and distributing funds to the intended artists.
• Artists are responsible for reporting the income and paying any necessary taxes.

By clearly defining the roles and responsibilities of all parties involved, our terms and conditions help maintain transparency and trust in our operations.

Further Information

For more information on our approach, please reach out to hello@wearecoral.org.