Member Agreement Barter Now
A. CONTRACT AND MODIFICATION OF CONTRACT
The following terms & conditions constitute the contract by and among Member and Barter Now.. Any use of Barter Now, hereafter referred to as Barter Now, to facilitate a transaction . At its sole discretion, Barter Now may amend this agreement by giving Member thirty (30) days written notice via e-mail. Barter Now may amend the Policies and Procedures with seven (7) days written notice via e-mail. Any purchase or sale by Member, which makes use of Barter Now after these time frames constitutes acceptance by Member of such change(s) and the agreement of Member to abide by the same.
B. PARTICIPATION IN THE EXCHANGE
- NATURE OF THE Barter Now trade exhange, is an association of businesses and professionals who have joined together to do business among themselves through the organized system which is regulated by the record-keeping and administrative services of Barter Now or its designee and through the medium of Barter Now Trade Dollars. Barter Now functions as a clearinghouse for the transactions of it's members.
regulates the network and acts as a third party record-keeper and administers the clearinghouse function of the network for the Members'.
DISCLAIMER OF WARRANTY AND LIABILITY
- C. Member is a bona fide and legal business that desires to do business with other members of the network and hereby subscribes to Barter Now services. Member warrants that it is in compliance with all State, Federal, industry and professional laws and regulations.
- D. Barter Now reserves the right of final approval of this agreement and may refuse to accept anyone as a Member for any reason it deems necessary. e. The signer of this agreement hereby acknowledges that they are over 18 years of age.
Barter Now makes no representation or warranty, either express or implied, and disclaims all liability, as to the fitness, quality, delivery date, prices or any term of any trade transaction. Member agrees to indemnify and hold Barter Now harmless with respect to any claim, debt, or liability whatsoever, arising out of any transaction wherein Member is a Buyer or Seller. Member acknowledges that any transaction facilitated by the Network, in Which Member participates is entered into by Member on a voluntary basis. Member agrees to waive any claim, debt, or liability whatsoever against Barter Now because of any computer or software malfunction or processing errors.
Seller shall be solely responsible to collect and remit to the appropriate taxing authorities the applicable taxes and shall collect and record these as required by law. Under no circumstances is Barter Now responsible to pay any taxes on behalf of any Member. Transactions involving Barter Now reports BCI Trade Dollar sales to the appropriate government taxing authority. The declaration and reporting of applicable taxes resulting from trade transactions rests solely with the Member. Member agrees to indemnify and hold Barter Now harmless for any actions Barter Now takes to comply with federal, state or provincial, and local laws.
- Trade Dollars
- Member's conduct transactions (purchases or sales of goods or services) using the Barter Now online system. Payments are made by posting debits and credits to the buying and selling Member's respective accounts, pursuant to these Rules and in the form of Barter Now Trade Dollars.
- Barter Now Trade Dollars are a private currency which operates as contractually accepted tender for specified private debts only, between exchange members, backed only by the goods and services available within the Network, and regulated by Barter Now. These Trade Dollars denote value received for goods or services sold, and may be exchanged for other goods or services made available by Barter Now Member's. Trade Dollars may be used only in the manner and for the purposes set forth in this agreement and the Policies & Barter Now disclaims any and all responsibility for the acceptance or negotiability of Barter Now Trade Dollars or for the availability of goods or services from any source.
- LIABILITY FOR Barter NowTrade Dollars
- Member acknowledges that Barter Now Trade Dollars in the Network (positive balances) are the liabilities of persons who have spent more than their earnings (negative balances); that there is a creditor/debtor relationship between such persons, and that Barter Now transactions incur the normal business risks associated with any credit transaction. Any negative trade balances are solely the liability of Members' who owe Barter Now Barter Dollars to the Exchange and are not the liability of Barter Now.
- a. Member acknowledges and grants to Barter Now the right and power to regulate and control the number of Barter NowTrade Dollars within the Network.
- b. Member grants to Barter Now the right and power to borrow from the Network.
- c. Member is NOT authorized to sell Barter Now Trade Dollars for cash.
D. SUSPENSION OR TERMINATION
- If Member violates this Agreement or the currently effective Policies and Procedures, Barter Now may at it's discretion immediately terminate Members' account or may freeze all activity in the account without notice and/or make immediate adjustment to the transactions involved. At its sole discretion, Barter Now may reinstate Member or unfreeze Members' account.
- Either party may terminate this Agreement upon seven (7) days written notice to the other party. Upon termination:
- A. All cash and Barter Now Trade Dollar service fees outstanding become due and payable. No service fees will be refunded.
- B. Any Member with a negative account balance (where purchases exceed sales) must balance their account with Barter Now Trade Dollars within thirty days of termination date. After said thirty day period, Member must immediately pay to Barter Now any remaining negative balance in cash.
- C. Any Member with a positive balance (where sales exceed purchases) must spend out their account within ninety days of termination. Any trade dollars remaining after ninety days will become the property of Barter Now.
- There are no sign-up fees or hidden costs.
- Funds for the cash fees must be available at the time of the transaction or it will not be processed. You may do this by having a debit or credit card on file. If You prefer to pay by check , you can pre-pay your account and we will deduct the fees from your available balance.
- Fees paid to Barter Now are non-refundable. If buyers or sellers do not complete a transaction, or if performance of Members' obligations to each other is disputed, Barter Now will not be obligated to refund any fees it has received.
- Transaction fees payable are due at time of purchase and fees due for more than 30 days will be assessed a late fee of $10.00 per month, or 1.50% of the unpaid balance, whichever is more.
- Members' who join Barter Now and use the Barter Now software will be charged the following.
- There is a sign-up fee of 195.00 for basic membership and 595.00 for lifetime membership
- Ongoing services fees are 5% of members transactions whenever they buy or sell thru Barter Now, payable in cash.
- Ongoing services fees are a minimum of $10.00 USD per month, payable in cash and Trade Dollars.
- We do NOT offer to keep geographic areas exclusive.
- By acceptance of this agreement the Member agrees personally and corporately to guarantee payment of all cash fees and is responsible for all negative barter dollars, if any.
- LEGAL REQUIREMENTS
Member shall abide by applicable international, federal, state or provincial, and local laws or regulations pertaining to exchange transactions. Barter Now shall not be responsible for any failures on the part of Member to comply with such laws and regulations. Member agrees not to hold Barter Now liable for any action Barter Now takes to comply with applicable laws or regulations.
- NO WAIVER OF RIGHTS
Barter Now failure or delay in exercising any right, will not operate as a waiver of that right, nor shall the partial exercise of a right preclude any other or further exercise of any right. Barter Now remedies are cumulative and are not exclusive of any remedies provided by law.
- SEVERABILITY; ATTORNEY'S FEES
Every item contained in this agreement is separate from every other term herein. If any term should be judged unenforceable, it shall not affect the enforceability of other terms outlined in this Agreement or the Policies and Procedures. If legal action must be taken by Barter Now, Member shall pay Barter Now reasonable attorney's fees, costs, plus interest from the date of default until payment in addition to any other judgment as granted by a court of law or an acceptable arbitration.
If Barter Now terminates or otherwise ceases to do business, all Member's in a negative Barter Now Trade Dollar position will pay amounts they owe in cash (one Barter Now Trade Dollar being equal to one United States dollar in cash) into a fund. The fund, less expenses, will be distributed pro rata to all Members' who are in a positive Barter Now Trade Dollar position. Barter Now is not liable to any Member's for cash or Barter Now Trade Dollars beyond the distribution of such funds.
- SECURITY INTEREST
Member hereby grants Barter Now a security interest in all Trade Dollars in Member's account for the amount of all unpaid cash fees. If Member becomes insolvent or bankrupt all cash fees shall be due and payable in full. Barter Now shall have the option in lieu of filing as a creditor of treating the Trade Dollar balance as equal in value to the amount of cash fees owed, and terminating the account; provided however, that if Barter Now does receive all of its cash fees in full, Barter Now shall reinstate the Trade Dollars to the Member's account.
- WARRANTY OF INFORMATION
Member warrants that it provides all information to Barter Now in good faith and that such information is accurate to the best of Member's knowledge.
- FAX & E-MAIL SIGNATURES
Barter Now will, and Member agrees, that Barter Now may, accept a faxed or e-mailed signature as an original, legal signature.
- ENTIRE AGREEMENT
Member acknowledges that it is not relying on any oral representations concerning this Agreement and that the complete agreement between the parties is contained in the Member Application, this Agreement and the Policies & Procedures.
- NO WAIVER OF RIGHT
Barter Now's failure or delay in exercising any right, will not operate as a waiver of that right, nor shall the partial exercise of a right preclude any other or further exercise of any right. Barter Now's remedies are cumulative and are not exclusive of any remedies provided by law.
MEMBER AGREES TO HOLD HARMLESS Barter Now, IT'S OFFICERS, AGENTS, REPRESENTATIVES, ASSOCIATES AND ASSIGNS FROM ANY LOSSES, LIABILITY OR DAMAGES WHICH MAY RESULT FROM MEMBERS' PARTICIPATION IN ANY OF BCI's TRANSACTIONS, ACTIVITIES, PROGRAMS, PROMOTIONS, OR ADVERTISING, INCLUDING THE COSTS OF LITIGATION AND ATTORNEYS FEES.
- JUDGMENT SETTLEMENT
In the event of a dispute between Barter Now and Member resulting in a judgment entered on behalf of the Member against Barter Now, Member agrees that BarterNow shall have the right to satisfy said judgment in Barter Now Trade Dollars.
G. APPLICABLE LAW
- This agreement shall in all respects be construed under the laws of the State of Michigan
- Venue shall be Genesee County, Michigan USA.