Barter Bucks Banc on-line MEMBERSHIP AGREEMENT
Barter Bucks Banc on-line MEMBERSHIP AGREEMENT
Terms & Conditions
1. Clients will sell goods and services at their current or prevailing retail prices for trade credit to other clients in good standing with Barter Bucks Banc(BBB). Trade Dollars must be accepted for the total value (100%) of a transaction. Real estate and individual transactions of substantial value may be negotiated for a partial cash payment by prior agreement between Clients. Purchases of equipment or parts for a specific service (such as plumbers, electricians or auto mechanics) may be reimbursed for such purchases in cash. Seller must receive written aproval from Barter Bucks Banc prior to any part cash transaction. Any mark-up must be accepted in barter dollars.
2. Members of Barter Bucks Banc selling products or services for inflated prices will be given one warning. If a member continues to sell products or services substantially above retail or continues to charge a premium for barter transactions, that member will be expelled from the exchange.
3. Barter dollars shall not be considered as legal tender, securities or commodities, by either Barter Bucks Banc or its clients, and may not be redeemed for cash.
4. Gratuities, taxes and shipping, which are standard to the seller, shall be collected by the seller and shall be paid in cash (by the buyer) or other acceptable means at the time of the transaction. Barter Bucks Banc shall not be responsible for the failure to collect tax or gratuities.
5. Buyers must identify themselves to the seller as an exchange member PRIOR to making purchase arrangements. Trade between clients without the knowledge or approval of Barter Bucks Banc is prohibited, and if consummated, is subject to a cash transaction fee from both the buyer and the seller at the current BBB rates. All transactions must be processed through Barter Bucks Banc online accounting system. Continued violation of this policy will result in expulsion from the exchange
6. Purchases by Clients will be limited to the amount of barter dollars accrued to their accounts unless secured by collateral and approved by an officer of Barter Bucks Banc. Client grants to Barter Bucks Banc the right and power to make barter dollar loans to any client on terms and conditions consistent with the Client's credit status and the ability to repay the loan. The exercise of this power shall be at the sole discretion of Barter Bucks Banc with regard to principal, interest, collateral terms, and other particulars. Interest will be charged monthly based on 18% per year to all clients whose accounts are in a deficit position as this is considered a loan. The interest charge will be based upon the deficit balance as of the end of each month.
7. The client may cancel this agreement with 7 days written notice. Upon cancellation all barter dollars must be spent within 90 days on products and services available through the exchange. All transaction fees of the balance remaining in the client's account are due before any additional transactions will be approved. Any Member with a negative barter balance (where purchases exceed sales) must balance its account with Barter Bucks Banc Dollars within four (4) weeks of termination date. After said four (4) week period, Member must immediately pay Barter Bucks Banc any remaining negative balance in cash. Barter Bucks Banc reserves the right to charge any fees due against credit cards or EFT authorizations on file.
8. Barter Bucks Banc shall not be responsible for any and all disputes between buyer and seller. Said disputes shall be settled by the parties themselves. Barter transactions are entered into on a voluntary basis by buyer and seller. Barter Bucks Banc shall not be responsible for the service quality, delivery, warranty, or dispute between buyer and seller. The client here by indemnifies Barter Bucks Banc and shall hold Barter Bucks Banc harmless with respect to any claim, debt, or liability whatsoever, arising out of any trade or transaction wherein client is a buyer or seller.
9. All clients agree not to use or disclose proprietary information, original ideas, marketing plans, trade secrets, clients or systems concerning or related to Barter Bucks Banc. All clients agree not to circumvent Barter Bucks Banc by doing business directly with any barter members in the system or to contract with Dobarter outside of their contract with Barter Bucks Banc. All clients further agree not to compete with or use proprietary information, clients or systems as a separate or independent company or partner with any other companies with the purpose of doing business in the barter and trade industry.
10. Any member of Barter Bucks Banc soliciting any other member of BBB to another barter or trade exchange group will be immediately terminated from the exchange.
11. An authorization must be obtained from Barter Bucks Banc for each purchase. To receive credit for a transaction, Seller must:
a. Obtain an authorization number either by logging in to the website (www.barterbucks.us), calling Barter Bucks Banc for each transaction at the time of purchase, swiping the client's Barter Bucks Banc membership card.
b. Obtain an authorization / Process the sale immediately upon the sale.
12. Transaction reversals must occur within 30 days of sale. Buyer and seller will forfeit any transaction fees for reversals processed beyond 30 days.
13. If, after one year, an account has not had any activity (buy or sell), and the account remains with a zero balance, Barter Bucks Banc shall have the right to close that account. Client acknowledges that, from time to time, Client firms will cease doing business, abandon or otherwise exit the Barter Bucks Banc network leaving a debit or credit balance in their barter account. Further, Barter Bucks Banc maintains an account termed "Debt Reserve," wherein the debit or credit balances are charged or credited. If Barter Bucks Banc loses contact with an account due to a disconnected telephone and/or continued returned mail, and the Client has not attempted to notify Barter Bucks Banc of this change of status, Barter Bucks Banc will close the account after 60 days and credit any barter dollars to Barter Bucks' Debt Reserve account.
14. Memberships may not be transferred or sold without Barter Bucks Banc approval.
15. The Barter Bucks Banc return policy on BB merchandise purchases is 30 days from date of purchase, in original packaging and unused or damaged by Client. This does not apply to travel accommodations, gift certificates, or scrip as they are all non-refundable.
16. Client's monthly statement will be considered accurate as printed unless the Barter Bucks Banc accounting department is notified of any discrepancy within 30 days of receipt.
17. Barter Bucks Banc may place a Client's account on hold and/or cancel this agreement if one or more of the following situations exist:
a. Barter Bucks Banc has received 2 written complaints on a given Client for either proof of poor performance or attempting to charge in excess of Client's retail prices.
b. Client has committed fraud, either on other Clients or against Barter Bucks.
c. Client is not following his/her contractual agreement with Barter Bucks.
d. Client has exhibited unprofessional behavior in dealing with Barter Bucks Banc staff or in the conduct of bartering with other Barter Bucks Banc clients.
18. Cash fees: Any Client checks returned to Barter Bucks Banc for insufficient funds, or any other financial deficiency, will be assessed a $25 cash fee. All fees are due and payable within 10 days of the date on the monthly statement. BBB will charge a cash fee of 1% per month on any cash balance outstanding. Accounts 30 days in arrears will be suspended until balance is paid.
19. Client recognizes and grants to Barter Bucks Banc, and those having an ownership interested in Barter Bucks, the right and power to borrow from the exchange and spend within the exchange system.
20. Client has read these Policies and Procedures, which are binding upon the Client fully as the conditions and provisions of Client Agreement. In the event this Agreement is signed on behalf of the Corporation, the individual signing the Agreement on behalf of the Corporation does hereby agree to be individually liable for full performance by said Corporation on this Agreement.
21. In the event any dispute is referred to an attorney with or without suit, the prevailing party shall be reimbursed for attorney fees and reasonable collection costs. Any court action shall take place in Contra Costa County, state of
22. Barter Bucks Banc may, at its option, request advance payment of Client Transaction fees. Outstanding fees and fees on the barter balance are due in advance of any spend out.
23. BBB is a third-party record keeper reporting all sales to the Internal Revenue Service. BBB provides all clients with a 1099B at the end of each calendar year.