Friday, 24 June 2011

Reseller prepaid credit with Distribute.IT

Netregistry Group will endevour to honour all Distribute.IT reseller’s with pre-paid credits
Following yesterday’s news regarding the acquisition of Distribute.IT and Click n Go’s customer assets, I would like to announce a conditional commitment to honouring monies in reseller pre-paid accounts.

Under the old Distribute IT payment plan, a number of resellers were participating in a prepaid credit system. This allowed them to register and renew domain names and services with previously deposited monies.

As a result of the acquisition deal the Netregistry Group are legally not liable for any monies which are owed by Distribute.IT as they form part of the liabilities not acquired by Netregistry.

That said, as a gesture of good will and in the interest of assisting resellers, we endeavour to honour all prepaid reseller credits.

Let me say straight away that as this is an unfolding situation I am basing this decision on preliminary and possibly incomplete information. I will qualify our intention by saying that if we discover the quantum is materially more than currently appears to be the case, or if other material information arises that impacts this decision, we may have to honour less that 100 cents in the dollar. So I am announcing an early, conditional but clear intention. I hope thereby to alleviate some uncertainty around the status of these monies.

That conditionality noted, this means that any credits which were previously sitting with Distribute.IT will be transferred with the asset acquisition. This will allow resellers to purchase from Distribute.IT / Netregistry using those credits via your reseller accounts.

Please note that this will not happen immediately. We ask for you to bear with us whilst we asses billing and payment history and gather information relating to each reseller.