A Transfer keeps four different flows clear:
Money already paid stays with the Vendor.
The Sellerās prepaid value transfers from the Seller to the Buyer.
The Buyerās agreed price for that prepaid value goes to the Seller.
Any remaining Vendor amounts are paid by the Buyer directly to the Vendor under the applicable Vendor terms and payment schedule.
What happens to the money already paid to the Vendor?
For an existing Vendor arrangement, the Vendor keeps the amounts already paid by the Seller.
In a Contract Transfer, the Sellerās prepaid value is transferred to the Buyer rather than returned to the Seller by the Vendor.
The Buyer acquires that prepaid value as part of the transferred arrangement and pays the Seller the agreed price for it.
This means the Transfer preserves the value that has already been paid for instead of treating the transaction as a refund process.
Who pays whom?
In a Contract Transfer:
the Vendor keeps the money already paid by the Seller;
the Seller transfers the prepaid value to the Buyer;
the Buyer pays the agreed price to the Seller for that prepaid value; and
the Buyer pays any remaining Vendor amounts directly to the Vendor.
CanceledWeddings.com currently does not hold these payments.
Who provides any saving to the Buyer?
The Seller decides what they want to receive for the prepaid value they are transferring.
If the Seller offers the Buyer a saving, that saving comes from the Sellerās prepaid value ā not from the Vendor.
The Vendor keeps the money already paid and does not have to fund the Sellerās discount or reduce the remaining amount due for their service.
Why this matters
The amount the Buyer pays the Seller is separate from any amounts still due to Vendors.
The Buyer pays the Seller for the prepaid value being acquired. If the transferred arrangement still has amounts due to Vendors, the Buyer pays those amounts directly to the relevant Vendors under their terms and payment schedule.
The Deal Specification shows both:
the prepaid value being transferred from the Seller to the Buyer; and
any amounts that remain payable to the Vendors.
What if the Vendor has issued a Voucher or credit?
If the Vendor has issued or agreed to a transferable Voucher or credit, the Seller can transfer that prepaid value to a Buyer.
The Buyer pays the Seller for the Voucher or credit they acquire and then uses its full value with the Vendor according to the conditions attached to it.
The price the Buyer pays the Seller does not change the value of the Voucher with the Vendor.
If the Buyer chooses additional services or upgrades so that the new booking costs more than the Voucher value, only the additional amount above the Voucher value is paid directly to the Vendor.
What should I check?
Before making an Offer, use the Deal Specification to understand:
the prepaid value being transferred from the Seller to the Buyer;
the agreed price the Buyer will pay the Seller;
what has already been paid to each Vendor; and
what the Buyer will still need to pay each Vendor.