Dear Client of Cash Back/Go Markets,
We have some unfortunate news about our contract with Go Markets. They have decided to terminate the contract with us effective September 16, 2011, thus we will not be able to pay rebates for trades after that date. A specific reason for termination was not specified however it appears they are terminating agreements with all rebate companies. Fortunately we are able to provide you with a better solution and a special rebate rate, detailed at the bottom of this email. We apologize for the delay in contacting you, we were trying to decide on an action plan and we have unpaid earnings at Go Markets. We wanted to ensure we first received enough of that to cover client rebates just to be safe. To date the delays in receiving payment from Go Markets have persisted, however please rest assured rebates will be paid on trades through the 16th of September regardless of payment status from Go Markets.
On numerous occasions throughout our 2 year relationship Go Markets has failed to honor key elements of verbal and signed contractual agreements, and has consistenly acted in a manner not typical of the other firms we work with. Due to these ongoing issues we have decided not to pursue any potential renegotiation with them. We were caught off guard by the termination as our referrals to Go Markets had increased dramatically in recent months, approximately 82% growth July over June, and 50% growth August over July, so we can say for certain it was not based on the viability of our referring model or any contract breach on our part. By terminating the agreement Go Markets intends not just to cease accepting clients from us, but to cease making payments for all the clients referred thus far by Cash back Forex over the past 2 years or so. We would never take such an action towards our clients or partners, and we are very disappointed our clients have been directly affected by the Go Markets decision.
We have some unfortunate news about our contract with Go Markets. They have decided to terminate the contract with us effective September 16, 2011, thus we will not be able to pay rebates for trades after that date. A specific reason for termination was not specified however it appears they are terminating agreements with all rebate companies. Fortunately we are able to provide you with a better solution and a special rebate rate, detailed at the bottom of this email. We apologize for the delay in contacting you, we were trying to decide on an action plan and we have unpaid earnings at Go Markets. We wanted to ensure we first received enough of that to cover client rebates just to be safe. To date the delays in receiving payment from Go Markets have persisted, however please rest assured rebates will be paid on trades through the 16th of September regardless of payment status from Go Markets.
On numerous occasions throughout our 2 year relationship Go Markets has failed to honor key elements of verbal and signed contractual agreements, and has consistenly acted in a manner not typical of the other firms we work with. Due to these ongoing issues we have decided not to pursue any potential renegotiation with them. We were caught off guard by the termination as our referrals to Go Markets had increased dramatically in recent months, approximately 82% growth July over June, and 50% growth August over July, so we can say for certain it was not based on the viability of our referring model or any contract breach on our part. By terminating the agreement Go Markets intends not just to cease accepting clients from us, but to cease making payments for all the clients referred thus far by Cash back Forex over the past 2 years or so. We would never take such an action towards our clients or partners, and we are very disappointed our clients have been directly affected by the Go Markets decision.