FarmOn 2.0 FAQ
What is FarmOn 2.0?
FarmOn 2.0 is a total upgrade of FarmOn 1.0. The services given to the farmers were broaden to cover everything that they need. Scientific farming will also be introduced using the Package of Technology that the in-house Technology Department of FArmOn has developed, tested and validated. From here on, FarmOn will no longer rely on Farm Inputs that are readily available in the market. We are now developing our own Farm Inputs. We have introduced new technologies in rice farming like the use of hormones to even nanotech. We will also be introducing state of the art facilities and equipments, which include drone sprayers and transplanters.
What is the scope of FarmOn 2.0?
In terms of scope, FarmOn 2.0 will cover areas that we haven't covered yet before. We were focused on actual farming in FarmOn 1.0 but in FarmOn 2.0 we will cover farming in totality including processes that need to be done in between. We now have our own research facility. The Technology Team that is manning the facility is composed of Agriculturists, Chemist, Agricultural Engineer, Biologist and a host of consultants both here and abroad. Last year (2018), our partners from Malaysia came over to visit FarmOn and the farms. During that visit, training was conducted to both the Technology Team and the farmers regarding the German Technology that we would like to introduce. In terms of mechanization and automation we are also adapting tools and equipments from China and other countries.
What other features does FarmOn 2.0 have?
Our expansion is no longer limited to actual business projects. As part of our Corporate Social Responsibility (CSR), we are also working with the government now, both national and local, and cooperate with them on how we could be of help to more farmers. With FarmOn 2.0 we are not just simply earning money and funding projects. We are actually helping the farmers and earn in the process. FarmOn 2.0 is not just a business model, it has a noble purpose.
Why is there a need for FarmOn 2.0?
FarmOn 2.0 will serve as a solution to the issues and concerns that we have encountered in FarmOn 1.0.
Some of the problems that FarmOn 2.0 will answer are the following:
1. Some FarmOners worry about having limited ROI or having their product being replanted. Their fund will now be managed by an in-house fund manager who knows what project is a potential high earner. FarmOners’ fund will also be spread to the six (6) different projects of FarmOn, hence, the chances of earning is more imminent.
2. Many FarmOners keep an eye on the opening of products. Some go online most of the time just to make sure that they are able to register and fund a specific product. With FarmOn 2.0, registration and funding may be done at your most convenient time without worrying for any closure that may happen anytime soon.
3.Funding is done only during specific seasons in FarmOn 1.0. Until any product is open, your fund remains dormant. In FarmOn 2.0, you can let your fund grow as soon as you wanted to.
How may we join FarmOn 2.0?
To avoid confusion and for the benefit of all FarmOners we designed the registration process to be as similar as FarmOn 1.0.
What is the difference between FarmOn 2.0 and FarmOn 1.0?
While registration is the same, FarmOn 2.0 is very much different. In terms of product, FarmOner will no longer need to choose any. FarmOn’s in house fund manager will handle the fund and he will spread it to the six (6) different projects of FarmOn. That way, the probability of not earning or not being able to receive ROI on time will be limited tremendously. Participation will no longer be on rice farming per se.
What are we funding in FarmOn 2.0
FarmOners 2.0 will participate in the six (6) projects of FarmOn 2.0.
1. Irrigation System;
2. Farm Mechanization;
3. Agro-Chemical, Inputs and Fertilizer;
4. Post Harvest Facility;
5. Rice Processing & Warehousing;
6. Logistics and Rice Distribution.
This will totally eradicate the hit and miss problem that some FarmOners have experienced before when they funded a product that did not provide them with good ROI.
How many times can we fund?
FarmOn 2.0 is virtually open all the time. That means that FarmOners can fund as many times as they possibly could. They could also fund at any time they wish to without waiting for the period when the project is open.
Is there a lock in period?
There is no lock-in period but since the platform was designed for mid-term to long-term funding, we suggest that FarmOners will let their fund grow in the program for 5 years. This way, they will be able to enjoy the benefit of the new program.
How do we earn through FarmOn 2.0?
In this platform FarmOners will have the chance to earn from the six (6) projects of FarmOn instead of just a single product.
What is CRPU?
CRPU stands for Current Rate Per Unit.
What's the use of the CRPU?
The CRPU will serve as the matrix in computing for the current value of your fund in FarmOn. The Current Value (CV) of FarmOner’s fund is equal to the CRPU times the Total Units of Participation (TUP).
CV = CRPU x TUP
Can I transfer my fund from my FarmOn 1.0 vault to FarmOn 2.0?
Yes! Transferring was also made very easy. Just like what FarmOners used to do, just "click" "Our Projects" on the navigation link. "Click" the "Open" button on FarmOn 2.0 banner or thumbnail and you will be redirected to FarmOn 2.0 page. At the bottom of the page, "click" on the button "Be a FarmOner 2.0" and you will be guided every step of the way.
When can we request for withdrawal?
FarmOn 2.0 is a midterm to longterm fund management program. Please take note, that this platform was created so that we can help FarmOners earn the fund that they need for their big projects in the future. As such, to get the maximum benefit of the platform in terms of ROI through cumulative earning, we advise that you let your money grow for at least five (5) years before making any withdrawal.
If, however, an emergency arises and you need funds, FarmOner may request for withdrawal six (6) months after funding the project.
Is FarmOn 2.0 legit?
FarmOn Agri-Community Corporation is duly registered with the government.
All necessary licenses and permits required by the government, both local and national, was acquired prior to any operation.
FarmOn 1.0 FAQ
What is the process?
Choose Product - After having successfully register an account, you can be able to fund a farm or choose a product. Some products are unavailable and some farms are not open for the current cycle. You can only fund available farms/products.
To fund a farm or choose a product, kindly click OUR FARMS tab at the top left corner of the website, then select available farm to fund. After selecting a farm, you can now choose the product you desire to fund. Then enter the number of product plots and the total computation will then appear at the bottom of the form. After that, just click "Add to Basket" button. You can add or remove products in your basket as long as you are not placing it.
If you have remaining balance in your account, the total product cost will automatically be deducted from the total amount of FarmOners Balance.
You can also choose whether you would like to have a notarized contract or not. Notary fee is P250.
You can fund different products/ farms in a cycle. Just make sure to request it all at once to receive your contract on time. Once contract is receive, you cannot add more products for the current cycle.
Contract - After product request, a contract will be sent to you through Message Center within an average of 3-7 working days. Delays will sometimes depend on the number of contracts we are sending. Do not proceed to payment, if you don’t have the contract. Payment details will be indicated in the contract.
After receiving the contract, kindly affix your signature and send it to us by replying to the same ticket where the contact was sent. After sending it, send your proof payment (scanned copy/photo) using the payment form.
If you are using your balance to fund a farm (reinvest), you need to send your signed contract to us within 6 working days to confirm your request.
Contract or notarized contract is per cycle. Even with have multiple product requests, you will be receiving only one (1) contract for the current cycle.
Payment - Your payment will be confirmed after you send your signed contract and proof of payment/details. We will be confirming your payment within 5-7 working days on the same ticket where you have sent it. If you don't received any confirmation within 7 working days you may call us immediately, delays may due to a large number of tickets that we are responding.
For late payments - You can refund your payment after it was posted on your account, but ₱200.00 will be deducted from the total payment. For immediate refund, 10% will be deducted from the total payment.
For excess payments - Excess payments will be posted on your FarmOn account, but ₱200.00 will be deducted from the total payment when refunded.
Reflecting Products - After the confirmation/validation of payment, your products and transaction history will be posted on your account before the start of the real farming.
Harvesting - Harvesting is based on the tagging of your products (First Pay, First Out) and duration of the selected products. Sales profit will depend on the crops/livestocks produced and price market. Once product is harvested it will posted on Product History of your account.
Can I make payment in advance?
Advance payment made even without a contract is strictly not refundable. (With this, we advise every FarmOner to avoid paying in advance.
Is there a registration fee?
Yes, there is a one-time registration fee of P300.00 for all first timers. The fee will be included on the contract.
What is all about Cart?
The cart is where all your product requests are placed for every cycle. New product requests will only remain for 10 days. Without placing your orders/requests after 10 days the product requests will automatically remove. Once you have placed your request, you will be receiving your contract (within 3-7 working days) for the current cycle and you cannot add products any more.
When is the next cycle?
We do not have tentative date for the coming cycles. Once the cycle is closed, it will usually take more than 2 or 3 months before the next cycle opens. If date was confirmed by the management, we will immediately post it on our Facebook page or website.
When will I receive my contract?
The contract will be sent to you through Message Center within 3-7 working days from the day you requested the products. Delays will sometimes depend on the number of contracts we are sending
What are the method of payment available?
Payment details indicated in the contract shall be paid through BDO Bank Deposit, Online Banking, Fund Transfer, Remittance or Cash Payment (Office address indicated in the contract).
When is the deadline of payment?
From the day (date is indicated in the contract) you have received the contract, you have 3-6 banking days to settle your payment. Failure to pay automatically forfeits contract. (Note that profit distribution is on a First Pay, First Out basis)
Acknowledgement of payment
Your payment will be confirmed after you send your signed contract and proof of payment. Payment will be confirmed within 5-7 working days on the same ticket where you have sent it. If you don't received any confirmation within 7 working days, you may call us immediately, delays may due to a large number of tickets that we are responding.
Acknowledgement of late payment
Payments made after 6 banking days automatically forfeits the existing contract. Payment will automatically recorded and can be used to fund for the next cycles.
Late payment can be refunded but FarmOner shall bear all costs and expenses (such as processing fee and bank charges) upon recovering payment which is 10% deducted from his/her total payment.
Receiving of notarized contract
Notarized Contracts will be sent at Message Centre within the month of the start of the real farming.
Return of investment differences
Sales profit will depend on the crops/livestocks produce, quantity, quality and price market.
Profit distribution is on a First Pay, First Out basis. Those who paid and confirmed first will be the first ones to receive the profit.
How can I withdraw my money?
Withdrawal request is only available from the 1st day up until the 10th day each month. All requests that will be send after will not be accepted.
Submission of withdrawal request can be send directly using your FarmOn account. Just log in to your account. Click the withdraw button at the bottom of the Vault Summary. Enter the amount you want to withdraw then submit. If you are using someone's bank account attach a copy of authorization letter from the account owner then submit your request. Kindly update your profile to fill up your bank details/money remittance details.
Note: We send withdrawals through BDO, PNB and Security Bank. Bank or Money Transfers surcharges are respectfully shouldered by the FarmOners.
When will I received the money I withdraw?
Withdrawal Requests are processed at the end of the month and will be send to your preferred Bank/Remittance Center.
How can I contact you?
When is the 21st cycle?
The 21st cycle will open on January 14, 2019 until February 28, 2019.
What is the best product to invest in?
The best product to invest in is the Rice Crop. Why? Because, FarmOn has complete technology for the production of good quality rice from planting, harvesting, milling, up to packaging. FarmOn also has a large number of rice growers or farmers registered to be funded by FarmOners. The ROI of rice is estimated from 10% to 20%.
Rice has been a staple of Filipino diet since time and memorial. FarmOn offers Rice product to be funded due to high and steady demand since Filipinos eat rice every day. Furthermore, the following reasons should be regarded as basis for the production of rice:
• FARMON serves over a thousand farmers that are in need of capital investment on the production of rice.
• Although rice undergoes a lot of processes before going to market, it only requires minimal marketing because consumers are already familiar with the product.
• Despite the fact that the quality of rice deteriorates after three months; it does not spoils easily as those of the vegetable products offered for the last cycles.
• FarmOn also invests on post-harvest facilities to ensure the quality of rice.
We at FarmOn Agri-Community Corp., would like to take part on the contribution for higher rice production and be the leader of the movement for Philippines to be a rice sufficient country and we believe that without you, this will not be possible.
Need more help? Use our Message Center!