For all FAF sponsored tournaments that pay out funds this document represents the requirements and rules around tournament prize payouts.
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Tournament prizes are payable on the day the last match of the tournament has completed and will be held for a maximum of 90 days. If the prize is not collected after that date for any reason, the prize will be considered forfeit and returned to the tournament budget for that year.
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Payment of tournament prizes must be made directly to the participating player.
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The method of payment is determined by the treasurer of the FAF Association at that time. If the player is unable to receive payment through the method dictated by the treasurer within the 90 day window the prize will be considered forfeit and returned to the tournament budget for that year.
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Any transaction, exchange, or other fees associated with the payout will be the responsibility of the receiving player and will be deducted from the total payout delivered.
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FAF is a registered association in Denmark and must abide by any and all limitations and regulations applied to us. Any prize payouts that cannot be paid due to regulation and/or sanction will be considered forfeit and returned to the tournament budget for that year.