Agent Terms & Conditions
Effective: July 1st 2025
These Terms & Conditions (“Agreement”) govern participation in the limited-time bonus incentive campaign (the “Campaign”) offered by Cobalt Payments to approved Independent Sales Organizations (ISOs) and Agents. By enrolling in or participating in the Campaign, you (“Participant”) acknowledge and agree to the terms outlined herein.
1. Upfront Bonus Incentive Structure
Cobalt Payments is offering a performance-based incentive designed to reward ISOs/Agents who successfully onboard qualified new merchant accounts during the Campaign period.
Bonus Structure
Participants may qualify for one (1) of the following non-stackable bonus tiers based solely on the total number of qualified merchant applications submitted and activated within the applicable qualification period (as defined in Section 2):
- Tier 1: $350 per approved and qualified merchant application submitted via Cobalt’s authorized DocuSign system.
- Tier 2: One-time lump-sum bonus of $7,500 upon approval and activation of ten (10) qualified merchant accounts within sixty (60) days of ISO/Agent agreement execution. This replaces the Tier 1 bonus and is not cumulative.
- Tier 3: One-time lump-sum bonus of $25,000 upon approval and activation of twenty (20) qualified merchant accounts within sixty (60) days of ISO/Agent agreement execution. This replaces all other bonus tiers and is not cumulative.
Non-Stackable Policy
Bonus tiers are not cumulative or stackable. A Participant may qualify for only one (1) bonus tier during the Campaign. The highest qualifying tier reached within the eligibility period will govern bonus payment. No additional or pro-rata bonuses will be issued for merchants beyond the selected tier.
2. Payment Terms & Qualification Procedures (Revised)
Merchant Processing Requirement
Each merchant application submitted by the ISO/Agent must result in an approved and activated merchant account that processes credit card transactions through Cobalt Payments for a minimum of three (3) consecutive business days. This initial processing period must begin within the campaign’s qualification window as defined below.
Additionally, to remain eligible for the bonus tiers, each submitted merchant must continue to actively process with Cobalt Payments for a minimum of three (3) full consecutive calendar months following their initial activation date. Merchant accounts that are canceled, become inactive, or are terminated before reaching this three-month period may be subject to clawback provisions outlined in Section 4 and may disqualify the agent from future bonus disbursements related to those accounts.
Qualification Period
To participate in this Campaign, the ISO/Agent must first execute a valid and complete Cobalt ISO/Agent Marketing Agreement. From the date of execution, the ISO/Agent shall have a total of sixty (60) calendar days to complete all the following actions:
- Submit and sign no fewer than twenty (20) qualified merchant applications through Cobalt’s authorized DocuSign platform, and
- Ensure each of those merchants is approved and begins actively processing credit card transactions through Cobalt Payments for a minimum of three (3) consecutive business days within the same 60-day period.
Only merchant accounts that are fully submitted, approved, and meet the three-business-day processing requirement within this window will be considered for tier qualification. Partial submissions or delayed activations beyond the 60-day window will be deemed ineligible for bonus consideration.
Bonus Payment Timeline
Bonuses will be paid in two phases:
- Phase 1: Upon verification that the ISO/Agent has met either the Tier 2 or Tier 3 milestone (i.e., 10 or 20 qualified merchant accounts signed and processing for at least three business days), 50% of the corresponding bonus will be disbursed no earlier than thirty (30) days after milestone confirmation.
- Phase 2: The remaining 50% of the bonus will be disbursed after all submitted merchants have completed three (3) full consecutive calendar months of processing and remain in good standing with Cobalt Payments.
Cobalt Payments reserves the right to audit and verify all merchant activity, qualification criteria, and compliance with these terms before releasing any funds. Bonus payments may be delayed, adjusted, or withheld in the event of non-compliance, fraud, or discovery of ineligible merchant submissions.
3. Merchant Eligibility Criteria
Only merchants meeting the following criteria shall be considered qualified for the purposes of this Campaign:
- The merchant must not currently be processing with Cobalt Payments, and must not have been an active Cobalt merchant within the prior twelve (12) months.
- The merchant must process a minimum average of $50,000 per month in credit card volume.
- The merchant must have been in continuous operation for at least nine (9) months prior to application.
- The merchant must be a U.S.-based business with at least 80% of total processing volume being domestic credit card transactions.
- The merchant must be at least 80% U.S.-owned.
- The merchant must not have an active Merchant Cash Advance (MCA).
- The merchant is solely responsible for any cancellation fees incurred from their previous payment processor.
- Merchants enrolled in Cobalt’s Free Terminal Program are not eligible under this Campaign.
4. Additional Terms
Exclusivity of Offer
This Campaign may not be combined with any other promotional offer from Cobalt Payments, including but not limited to terminal giveaways, leasing programs, or pricing incentives. This Agreement supersedes any other conflicting offer or verbal representation unless otherwise agreed to in writing by an authorized executive of Cobalt Payments.
Modification and Termination
Cobalt Payments reserves the right to modify, suspend, or terminate this Campaign at any time, with or without prior notice. Any such change will not affect bonuses that have already been earned and verified prior to the modification or termination date.
No Guarantee of Bonus
Participation in this Campaign does not guarantee bonus eligibility or payment. All bonuses are subject to merchant qualification, processing requirements, and compliance with these Terms & Conditions.
5. Governing Law
This Agreement and all disputes or claims arising out of or in connection with it shall be governed by and construed in accordance with the laws of the State of Connecticut, without regard to conflict of laws principles.
6. Contact Information
For questions regarding eligibility, status, or payment of bonuses, please contact:
Cobalt Payments – ISO/Agent Support Team
Email: Sales@cobalt.info
Phone: 860-270-0552
Website: www.cobalt.info
