Do I need to sign up for a Lumanu account or do anything extra?
NO. Lumanu will send you an invoice and all you need to do is pay per your normal accounts payable process.
Is Lumanu free to use as a brand?
Yes. When a creator sends you a payment request, they are paying the transaction fees; however, many brands offer to cover the fees as part of the total contract value.
When is payment due? We have standard net terms.
Creators list the payment due date on the request per your initial agreement. This will be based on any pre-defined net terms or timeline agreements.
How do brands send payment?
The contact that the creator lists on their payment request will will receive an invoice via email containing payment instructions to remit ACH or check just as you usually would. You may forward this email to your accounting department.
What if creators need to be setup as a vendor in our system?
Lumanu will signup as a vendor instead of the influencer. Just reply to the invoice and we will complete the process. Or reach out to email@example.com
What about W9s and 1099’s?
As a third party settlement organization, Lumanu manages payments for services delivered and will handle all tax reporting obligations. You can access/download Lumanu’s W-9 here if needed by your accounting department.