What is Service-share?

The concept:

Service-sharing is a feature for businesses on the MMN who are open to sharing relevant and valuable services between each-other at their mutual benefit and/or reduced expenditure. Participants can offer services equal or close to their value and compensate the remaining gap with a reduced invoice cost.

What can be shared?

Waywolf does not dictate what each business in the service-share offers and what is expected in return, we simply act as a mediator between the two for contact and exposure. The quality, quantity and value of the services are expected to be of a similar value and benefit for each participating business and any disputes or issues are their own between them. Waywolf is not accountable, nor liable for losses or legal damage due to this feature and we encourage businesses to act in a friendly, mindful and considerate manner when service-sharing.

Why Service-share?

Service sharing is a great way for businesses to get closer while minimising costs and maximising on value. The underlying principal here is that businesses share value between them and prosper together; the legislative and contractual elements of a service share are completely the two participants responsibility however Waywolf is happy to offer help and support where relevant.

The nature:

Since Waywolf does not directly engage in the feature between businesses, we do not place any direct rules on the practice nor ownership on the concept however we do offer some guidelines which may help new or first time participants.

  1. Create an agreement or contract where both parties fully understand what they are offering and receiving and are completely satisfied and compliant with it.

  2. Maintain clear, and regular communication to ensure both parties are actively participating in the service-share.

  3. Ensure, a dispute agreement is in place in the unlikely event that one or both parties are not satisfied.

  4. Service sharing does not necessarily mean the business provides the service without monetary compensation, participants should calculate the value between offerings and discuss payments to cover any potential gaps of value or fees.

  5. Provide a clear and descriptive report on the services you’re offering and why you consider them of the placed value.

  6. Auction the services between each-other until a price is met that mutually seems fair.

  7. Act fair, honest and reliable.

  8. If you believe an illegal act has occurred and cannot follow-up with the other participant, please consult your contract and carry out the necessary steps to recover your losses.

  9. Do not overshare data and always ensure that your other participant is maintaining their business in a legally satisfying way.

  10. If you are confident in your offering and contractual strength, you can carry out a Service-share between more than one business but be cautious.

  11. Remember to keep track of all services offered and delivered and any tax related or other legal requirements that you may need to address.

  12. Just because a service is shared does not mean it is not an official transaction between businesses and you are accountable for maintaining records, invoices and documents where applicable.

  13. If you would like to change the status of your Service-share listing, simply contact us.