What Is a Contract?

A contract is the record of a space acquisition on SupaSpace.

Whenever a guest acquires a space through booking, rent, lease, sale, or bidding, a contract records the details of that acquisition.

The five contract types are:

• booking

• rent

• lease

• sale

• bidding

A contract brings together everything related to a particular acquisition.

It can contain:

• Space details.

• The selected payment option.

• Pricing.

• Payment certificates.

• Payments.

• Escrows.

• Extras.

• Conditions and agreements.

• Transactions.

• Refunds.

• Taxes.

• Guest information.

• Other acquisition-related information.

In simple terms, the contract is the central record of the relationship between the guest and the host for a particular acquisition.

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What Happens When a Contract Is Initiated?

When a contract is initiated, important information from the space is copied into the contract.

This includes:

• The selected payment option.

• Selected extras.

• Conditions or agreements.

These are cloned for the contract.

This is important because the host may change the original space's configuration later.

For example, imagine a space currently has a payment option with a price of $1,000.

A guest initiates a contract using that payment option.

Later, the host changes the payment option to $1,200.

The existing contract does not suddenly become $1,200.

The contract continues using the payment information that was cloned when the contract was initiated.

Important: Changes made to the original payment option, extras, or conditions do not change the corresponding information on contracts that have already been initiated. This protects the terms of existing contracts from later changes to the space.

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Understanding Contract Cost

The Contract Cost represents the total cost of the acquisition at the time the contract is initiated.

This is the amount you see when you are about to:

• Book a space.

• Send a rent request.

• Send a lease request.

• Send a purchase request.

• Place a bidding acquisition.

This initial amount is called the Main Cost.

Why "main" cost?

Because additional costs can be introduced while the contract is ongoing.

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Contract Extras

Additional costs that arise after a contract has been initiated can be created as Contract Extras.

Contract Extras work similarly to the extras attached to a space, but they are created directly on the contract.

For example, suppose a guest has already started a contract and an additional charge becomes necessary.

Instead of changing the original contract cost, the host can create a new Contract Extra.

A separate cost object is created for the extra, and payment certificates can be created for that extra.

This keeps the original acquisition cost separate from additional costs that arise during the contract.

Example

Suppose:

• Main contract cost = $1,000.

• An additional service later costs $100.

The original $1,000 remains the main cost.

The additional $100 is created as a Contract Extra.

This makes it clear what the guest originally agreed to pay and what was added later.

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Creating Payment Certificates on Contracts

Payment certificates can be created for contracts that still have unpaid amounts.

This is especially useful for payment options using installment types such as:

• flexible

• milestone

With these payment options, the host can create payment certificates when they are ready to request another payment.

For other payment types, payment certificates are automatically created according to the payment option's configuration.

If a certificate is cancelled, the host can use a Contract Extra to create a new cost and request payment for it by creating a new certificate.

Tip: When creating a Contract Extra, set its price depend to none unless you specifically want the price to be calculated based on another factor. If you select duration or both, the price may be calculated using the duration at the time the extra is initiated. If you select guest or both, the number of guests may also affect the calculated price.

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Payment Option Policies Still Apply

The policies configured in the payment option continue to apply to extras created on an ongoing contract.

This includes applicable rules relating to:

• Payment.

• Deadlines.

• Penalties.

• Other payment policies.

This also applies to extras that are created after the contract has already been initiated.

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Contract Features

Contracts provide different tools and information depending on whether you are the guest or host.

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What Guests Can Do on a Contract

As a guest, you can perform several actions from your contract.

View and Pay Payment Certificates

You can view your payment certificates and make payments against them.

If the payment option uses guest custom installments, you can also create payment certificates yourself when you are ready to make a payment.

View Your Payment Option

You can view the details of the payment option selected for your contract.

This allows you to understand the pricing, payment schedule, policies, and other rules that apply to your acquisition.

View Contract Extras

You can view the extras associated with your contract.

Select an extra to view its details.

Read Contract Agreements

You can read the conditions and agreements associated with your contract.

These are the terms that were applicable when the contract was initiated.

Write a Review

After the applicable acquisition experience, you can write a review for the host.

View Confirmations

You can view confirmations related to your contract.

These may include requests that require your approval, such as certain escrow-related actions.

View Transactions

You can view all transactions associated with your contract.

This allows you to track the financial activity related to the acquisition.

View Escrow Funds

You can view money associated with your contract that is being held in escrow.

This can include funds that are:

• Pending.

• Released.

• Refunded.

View Refunds

You can view refunds associated with the contract, including their progress and details.

View the Guest List

You can view the guests associated with the contract.

This includes you and other guests who have checked in.

Add Next of Kin

You can add next-of-kin information.

This identifies people whom the host should allow to act or be recognized in your absence, where applicable.

Reschedule Check-In

You can request or perform a check-in reschedule when the selected payment option allows it.

Cancel

You can cancel the contract when cancellation is allowed by the applicable payment option and contract rules.

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What Hosts Can Do on a Contract

Hosts also have a range of contract management tools.

Check Guests In

Hosts can check guests into the space when the applicable conditions have been met.

View Guest History

Hosts can view the guest's history where available.

This can help hosts understand previous interactions and acquisitions involving the guest.

View and Manage Payment Certificates

Hosts can view payment certificates and manage payments.

Depending on the payment option, hosts may also be able to create additional certificates.

For example, flexible and milestone installment arrangements allow hosts to create certificates as payments become due or are requested.

View the Selected Payment Option

Hosts can view the payment option selected for the contract.

View Contract Extras

Hosts can view all extras associated with the contract and open each extra to see its details.

Read Contract Agreements

Hosts can review the conditions and agreements associated with the contract.

View Confirmations

Hosts can view confirmations related to the contract.

These may include requests that require guest approval.

View Transactions

Hosts can view all transactions associated with the contract.

View Escrow Funds

Hosts can see money received through the contract and its current escrow status.

This includes funds that are:

• Pending.

• Released.

• Refunded.

View Refunds

Hosts can view refunds made against the contract and monitor their progress and details.

View Guest List

Hosts can view the guests associated with the contract, including guests who have checked in.

View Next of Kin

Hosts can view the next-of-kin information provided by guests where applicable.

Reschedule Check-In

Hosts can request a check-in reschedule from the guest when applicable.

Cancel the Contract

Hosts can cancel a contract according to the applicable contract and payment rules.

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Understanding the Payment Flow 💳

Once a contract is initiated, the payment process begins.

However, some payment options require payment before the contract is fully initiated.

This can happen with payment types such as:

• outright

• now and later

The payment flow is centered around payment certificates.

A payment certificate is a payment request — similar to a payment voucher — that contains the amount the guest is expected to pay.

Both the guest and host can view payment certificates and pay them where permitted.

A payment certificate can also be shared with another person so they can pay it without being logged in.

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Step-by-Step Payment Flow

The general payment process works like this:

1. Initiate Payment

A payment is initiated from a payment certificate.

2. Make the Payment

The payer completes the payment using one of SupaSpace's supported payment processors.

3. Payment Is Verified

The payment is verified after processing.

4. Money Goes Into Escrow

After verification, the money goes into escrow.

The funds are held according to the contract and escrow rules rather than being immediately released to the host.

5. Escrow Is Approved

Depending on the acquisition and applicable rules, the escrow is approved on check-in or handover and scheduled for release.

The scheduled release date depends on the contract's circumstances, including its duration and acquisition type.

6. Escrow Is Released

When the scheduled release date arrives, the escrow is released.

The corresponding transactions are created and recorded.

7. Host Receives the Funds

After release, the host receives the applicable funds in their balance on the Accounts page.

Where applicable, tax amounts are also reflected in the host's tax balance.

8. Host Withdraws Funds

The host can go to the Accounts page, add a wallet, and request an instant withdrawal.

The withdrawal process may take up to five business days, although withdrawals are generally processed much faster and are typically instant.

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Guarantee Escrows

Not every escrow is intended to be paid to the host.

A guarantee payment becomes a Guarantee Escrow.

A guarantee escrow acts as a security deposit.

It is held rather than released to the host and is refunded to the guest when the applicable conditions are satisfied.

Note: A guarantee escrow is different from a normal payment escrow. A payment escrow is held on behalf of the host and is eventually released according to the applicable release rules. A guarantee escrow is held as security and is intended to be refunded to the guest rather than paid to the host.

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Refunds

Refunds can occur in different situations depending on the source of the refund.

Refund From an Unreleased Escrow

If a refund is made from an escrow that has not yet been released:

1. The applicable refund percentage is calculated.

2. A refund is created.

3. The refund is processed after 24 hours.

Refund From a Released Escrow

If the escrow has already been released:

1. The applicable refund percentage is calculated.

2. The required deduction is made from the host's balance and other applicable related balances.

3. The refund is processed after 24 hours.

Host-Created Refund

A host can also manually create a refund.

In this case:

1. The refund is created.

2. It is processed after 24 hours.

3. The amount is deducted from the host's balance.

4. The refund is sent to the guest's balance account.

The guest can then go to the Accounts page, add a wallet, and withdraw the refunded amount.

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Sharing and Splitting Payments

Payment certificates can be shared or split.

Tip: A guest can split a payment certificate with other people so that multiple people contribute toward paying it off.
The host can also cancel a payment certificate when applicable.

This can be particularly useful for shared spaces or acquisitions where several people are contributing toward the same payment.

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Payment Certificate Penalties

Payment certificates can have payment deadlines and penalty rules.

If the deadline and grace period have passed, applicable penalties may be added to the certificate's cost.

Note: A payment certificate with penalty rules can include additional penalties in its payable amount after the configured deadline and grace period have passed.

This means that the amount a guest sees may increase when a payment becomes overdue.

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Force Approve and Force Release

Hosts have access to Force Approve and Force Release features.

These features allow the host to send a request to the guest asking them to approve an escrow action earlier than the normal schedule.

The guest receives the applicable confirmation request and can decide whether to approve it.

Tip: Hosts can use force approve and force release to request early approval from the guest so that escrow funds can potentially be released before the normal release time.

Important: Early release is at the guest's discretion. Guests should approve an early release request only when they are satisfied with the property and the arrangement. Approving early release may reduce the protection provided by keeping funds in escrow for the standard period.

Some early-release requests require the guest to approve them through Confirmations.

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Escrow Release Rules

Escrow funds are released or refunded based on several factors, including:

• The acquisition type.

• Whether ownership is transferred.

• The occupancy duration.

• The purpose of the escrow.

• The applicable contract rules.

The general release rules are as follows:

Condition	Escrow Outcome
Owned space — Guarantee Escrow	Refunded to the guest 1 year after check-in.
Owned space — Payment Escrow	Released to the host 3 months after check-in.
Stay duration greater than 3 months	Released after 1 month.
Guest has occupied the property for at least 3 months	Released after 2 weeks.
Stay duration greater than 2 weeks	Released after 7 days.
Stay duration less than 2 weeks	Released 48 hours after checkout.
Checkout-based escrow release	Released or refunded 48 hours after checkout, where applicable.

These rules determine when funds move from escrow to their final destination.

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Understanding the Two Main Types of Escrow

Payment Escrow

A Payment Escrow is money held on behalf of the host.

The guest makes payment, but the money is held in escrow until the applicable release conditions are met.

Once the release time arrives, the funds are released to the host.

Guarantee Escrow

A Guarantee Escrow is money held as a security deposit.

It is not intended to be paid to the host as normal income.

Instead, it is held as security and refunded to the guest when the applicable conditions are met and there is no valid claim against it.

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A Complete Contract Payment Example

To understand how all these pieces work together, imagine a guest rents an apartment.

Step 1: Guest selects the space

The guest selects the apartment and chooses one of the available payment options.

Step 2: Guest sends the acquisition request

The guest submits their requested dates, guest information, payment option, and any selected extras.

Step 3: Host approves

The host approves the request.

The selected payment option, extras, and conditions are cloned into the contract.

Step 4: Payment certificate is created

The applicable payment certificate is created according to the payment option.

Step 5: Guest pays

The guest pays the certificate.

Step 6: Payment enters escrow

After payment verification, the money enters escrow.

Step 7: Guest checks in

The host checks the guest in.

The applicable escrow release schedule begins.

Step 8: Additional cost occurs

Suppose the guest requests an additional service.

The host creates a Contract Extra for the additional cost and creates a payment certificate for it.

Step 9: Guest pays the extra

The payment is processed and handled according to the contract's payment rules.

Step 10: Escrow is released

When the applicable release time arrives, the payment escrow is released to the host.

Step 11: Contract continues or closes

The guest remains under the contract until the applicable check-out or ownership-transfer process is completed.

Fees and Charges

SupaSpace uses a transparent fee structure that may vary depending on the currency or country in which the transaction is made.

By default, the SupaSpace service fee is paid by the guest. However, when setting up a payment option, the host can choose to cover the service fee instead.

The service fee is based on the contract value. As the contract value increases, the applicable percentage decreases, with a maximum fee applied at higher contract values.

Default Fee Structure

Contract Value (Min–Max)	Service Fee
0 – 5,000	8%
5,000.01 – 10,000	7%
10,000.01 – 20,000	6%
20,000.01 – 50,000	5%
50,000.01 – 75,000	4%
75,000.01 – 100,000	3%
100,000.01 – 200,000	2%
200,000.01 – 400,000	1.5%
400,000.01 – 1,000,000	1%
1,000,000.01 and above	15,000 (in the applicable currency)

USD, EUR and GBP Fee Structure

For contracts denominated in USD, EUR, or GBP, the following fee structure applies:

Contract Value (Min–Max)	Service Fee
0 – 2,000	8%
2,000.01 – 5,000	7%
5,000.01 – 7,500	6%
7,500.01 – 10,000	5%
10,000.01 – 15,000	4%
15,000.01 – 20,000	3%
20,000.01 – 40,000	2%
40,000.01 – 70,000	1.5%
70,000.01 – 100,000	1%
100,000.01 and above	1,500 (in the applicable currency)

Additional Information

• Additional charges: Any extras added after a contract has been initiated are treated separately from the original contract value. The service fee for each extra is therefore calculated independently using the applicable fee structure.

• Payment processing fees: The payment processor may charge an additional percentage on the total amount being paid, including the contract cost, SupaSpace service fee, and applicable taxes. The exact amount depends on the payment processor used. SupaSpace currently works with Paystack, which charges 1.95%.

• No hidden fees: The amount displayed at checkout is the total amount you will pay, including applicable fees and taxes. There are no hidden charges, and you will never be charged more than the amount displayed.

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Important Things to Remember

Note: A contract preserves the payment option, extras, and conditions that were selected when it was initiated. Changes made to the original space configuration do not rewrite existing contracts.

Note: A payment certificate is a payment request, similar to a payment voucher. It contains the amount that needs to be paid.

Note: Payment certificates can be split so that multiple people can contribute toward the same payment. The original deadline remains applicable.

Note: Payment option policies continue to apply to Contract Extras, including extras created after the contract has already started.

Tip: When creating a Contract Extra, normally use none for price depend unless you specifically want the extra's price to depend on duration or guest count.

Tip: Guests can split payment certificates with other people, making it easier for multiple people to contribute toward an acquisition.

Tip: Hosts can use force approve and force release to request early escrow approval from guests.

Important: Guests should carefully review early-release requests before approving them. Approving an early escrow release may reduce the protection provided by the normal escrow holding period.

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Contracts in a Nutshell

A SupaSpace contract is the single record that brings an acquisition together.

It connects:

Space → Payment Option → Pricing → Extras → Conditions → Certificates → Payments → Escrow → Transactions → Refunds

The contract preserves the terms that applied when the acquisition was initiated while allowing the host and guest to manage payments, additional costs, communication, check-in, refunds, and other activities throughout the life of the acquisition.

Whether the acquisition is a short booking, a long-term lease, a rental, a property sale, or a competitive bidding purchase, the contract provides the structure for managing the entire deal.

One acquisition. One contract. Everything related to the deal, in one place. 🤝🏠💳