RaceReady empowers promoters to increase their event revenue and provide a superior experience for racers. However, RaceReady charges its clients in a unique way.
When promoters utilize RaceReady's system for online registration, scoring, or live timing, RaceReady promptly transfers all funds to the promoter's bank account on a daily basis.
However, RaceReady deducts applicable fees based on the Promoter's fee schedule before making the transfer.
In simple terms, when a customer makes a purchase through RaceReady, the money is directly deposited into the promoter's bank account, except for certain fees outlined in the promoter's contract. Transfers may take up to 48 hours to complete.
RaceReady does not handle racer refunds independently. If a promoter needs to authorize a refund and RaceReady is able to accommodate it, the refund amount will be deducted from the funds scheduled to be deposited into the promoter's bank account that day. If the funds are insufficient, they will be automatically withdrawn from the promoter's bank account. In case of insufficient funds in the bank account, RaceReady may suspend the Promoter's RaceReady account until the outstanding amount is settled.
PROMOTERS, please note that assessed fees may not align with the revenues deposited into your bank account, as there can sometimes be a delay of 24-48 hours between the two. However, all withheld and distributed funds can be reviewed in the "Reports By Event" section under the Accounting tab.
