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TERMS AND CONDITIONS AGREEMENT
Barter Rewards, New Zealand. (hereafter referred to as BR) is a trading company that also acts as a Clearing House and third-party record keeper of trade transactions among its members, who are business owners and professionals who contract with BR to organize and facilitate trade of their goods and services with each other. The member agrees and understands that BR is a service organisation whose purpose is to direct members to each other for trading.
1. GOOD STANDING: A member in good standing is one who conducts trade in accordance with these Terms & Conditions, is current in any money’s owed to BR and has a valid member account. Only members in good standing are entitled to the services of BR.
2. TAXES: A trade is a barter purchase or sale of goods and/or services whereby payment is made in BR and posted to the Member’s account pursuant to these Terms & Conditions. Members are advised that transactions involving BR are generally treated as taxable events for tax purposes. Members should consult with their tax advisors for appropriate tax treatment.
3. COURTESY: Member agrees to treat fellow trade Members with the same manner, with the same professionalism, and with the same priority which Member treats all other customers.
4. SELLING: All members must sell all their goods and/or services at the same retail price as member charges to the general public. All goods and services shall be sold at 100% trade unless previous written approval is arranged through BR.
5. IDENTIFY: A buying member should identify him/herself to the seller as a BR member before making a purchase.
6. VOLUNTARY: Trade transactions between Members are conducted on a voluntary basis. Any trade transaction disputes over the goods or services purchased or sold shall be between only the buyer and the seller and shall be settled by those parties themselves. BR assumes no responsibility for the quality, timely delivery, warranty or dispute of any nature between members with regard to any products or services being traded.
7. SALES TAX: Seller shall charge the appropriate sales and excise tax and collect and record these at the time of sale. Under no circumstance will BR be responsible to pay or collect, any sales excise, use or other such tax on behalf of any Member. BR is required by law to obtain the correct taxpayer identification number of Member and to report all trade sales of Member to the IRD if requested. The collection of applicable sales tax by the seller in each transaction shall be in trade credits.
8. TRANSACTIONS: All trades with other BR members must be done through BR. Transactions involving BR with members are commissionable. BR reserves the right to charge cash fees on all purchases and sales listed on the front including but no limited to those purchases or sales that include a cash/trade component. Member also agrees that all sales sold are to be done 100% in BR Dollars up to $10,000.00, any dollars above may be negotiated, for cash. Any sales made below $10,000.00 and the Buyer has unavailable BR funds balance shall be do in cash, but approved by BR.
9. ACCOUNT: Member acknowledges that any credit balance held in the name of the Member with trade dollars or cash balance shall be a non-interest bearing deposit.
10. INDEMNIFY: Member agrees to indemnify and hold harmless BR, it’s agents, officers, directors and employees, for any loss incurred by BR which is caused by an act of omission of Members including but not limited to, legal fees, court costs and litigation expenses, paid or incurred as a result of BR relationship with the member as well as “collections costs” and litigation expenses related to the neglect or refusal of the member to comply with the Application and/or BR Terms & Conditions (current or as amended or supplemented.)
11. MEMBER CARDS: Member is solely responsible for all charges made on cards issued to member’s account. In the case of a lost or stolen card, member must notify BR in writing or in person of the loss, theft, or possible unauthorized use. Please be advised the BR card is like a cash debit card and BR cannot be responsible for member’s loss.
12. AUTHORIZATION CODE: Upon making a purchase, the purchasing member shall present a BR membership card to the seller who shall obtain an AUTHORIZATION CODE for the amount of the transaction (NOT to include any taxes.) AN AUTHORIZATION CODE AND THE BUYER’S SIGNATURE ON A BR TRADE SLIP OR OTHER WRITTEN DOCUMENT ARE REQUIRED ON ALL TRANSACTIONS. This authorization will transfer funds from buyer’s account to seller’s account.
13. RECORDS: Seller is responsible to keep a copy of the authorization code with proper date of sale. BR is not responsible for posting trades seven (7) days after the date of the sale. Monthly statements are deemed accurate as printed unless member notifies BR in writing of any discrepancy within fourteen (14) days of statement date.
14. STAND-BY STATUS: Member may call BR and request that his/her account be placed on temporary “stand-by” status. A Member may not request “stand-by” when their account is in a deficit position. If a Member wishes, a deficit may be satisfied by paying to BR the indebtedness in cash, and then the account may be placed in “stand-by” status.
15. CANCEL MEMBERSHIP: A Member may cancel his/her membership by providing BR with thirty (30) days written notice & making full payment in cash for all service fees and the dues charged by BR. If the Member has BR dollars in his/her account at the time of the cancellation of membership, the Member agrees to spend those BR dollars for goods and services offered by other members of BR. If the Member has a deficit trade balance and wishes to cancel his/her membership, the Member must pay the amount of the trade deficit to BR in cash. Normal fees & service charge will continue to be billed until account is paid in full. Authorized Applicant Member hereby agrees to personally guarantee any and all obligations arising pursuant to these Terms and Conditions Agreement. This Agreement shall be binding on Member’s heirs, representatives, successors, assigns and administrators.
16. STATEMENTS: Member understands that all statements will be sent out electronically to the email provided by the Member it is the responsibility of the Member to login to barterrewards.co.nz and keep their email up to date.
17. ADMINISTRATION: BR serves in a brokerage capacity organizing and facilitating trades among Members. BR will use its best efforts to broker the BR dollars of the Members into goods or services, to accurately record trades, and to administer these Terms & Conditions in accordance with their terms.
18. WARRANTIES: BR is not responsible if a Member cannot find specific products or services to buy from the Members. BR is not responsible for the quality, timely delivery, warranties, or other problems which arise with the respect to goods and services traded by Members of BR. BR makes no representations or warranties, either expressed or implied, and disclaim all liability as to the fitness, quality, delivery, date, merchantability, prices, or any term of any trade transaction.
19. DILIGENCE: Members should exercise the same diligence in entering into trade transactions as they exercise in entering business transactions for cash.
20. COMMITMENTS: BR is responsible only for commitments made in writing by a duly authorized officer of BR, and not for verbal or written commitments made by account executives, trade brokers, or other representative of BR. Member agrees that their business is not engaged in any other retail barter exchange and will not engage as a Member in any other Barter Exchange or similar entity to compete with Barter Rewards. Member agrees to barter with all Members exclusively that are Members of Barter Rewards.
21. TERMINATION: If a Member violates any term of the Membership agreement or Terms & Conditions now or hereafter in effect, BR may immediately terminate the Member’s account in accordance with these Terms & Conditions or may freeze all activity in the account without notice until such time as BR, in its sole discretion, reinstate the Member or decides to terminate the Member’s account. Upon termination of a Member’s account, if a member has a negative trade balance (i.e. purchases exceed sales), Member shall trade acceptable products or services to eliminate the negative balance within thirty (30) days of the termination date or after the thirty (30) day period immediately pay BR any remaining balance of the trade deficit in cash. Member may not assign this Agreement without the written consent of BR.
22. COURT: Member agrees and consents venue for any legal actions arising out of Member’s participation in BR shall be proper in a court of New Zealand and prevailing party shall be responsible for all reasonable legal fees and court costs.
23. PROMOTION: BR may use, free of charge, the name, address and logo of any member in the BR advertising and promotion, unless otherwise stipulated in writing by BR members. Memberships of BR may not be transferred or sold or assigned in any fashion without prior written approval from BR.
24. BROKER FEES: Broker fees of $15 cash / $15 trade Silver, $10 cash / $10 trade Gold or $20 trade Platinum and 1.5% of the gross amount of cash fees due per month will be assessed at month end if the transaction fees and charges are not paid in full. A suspension of trading privileges may be put into effect until the account is current.
25. LATE FEES: Membership fees, monthly support & accounting fees and transaction sales and customer acquisition and society fees are not refundable. A $25 cash late fee and a service charge will be levied for any and all returned checks credit card declines or pre-authorized payment declines, for any reason, by a financial institution for each said return.
26. INTEREST CHARGES: An additional 0.83% monthly fee (APR 10%) in trade dollars shall be charged to the account for a deficit balance in the trade portion of the account. 1.5% monthly fee (APR 18%) in cash shall be charged on the account for any past due cash fees due on the account. Trade dollar fees due shall be automatically deducted from the client’s account, the client’s account frozen and no trade dollars shall be spent until the cash fees are paid in full.
27. FREEZE OR CANCEL MEMBERS ACCOUNT: BR may freeze an account and/or cancel this membership agreement if:
1). BR has received 2 or more complaints on a given member or attempting to charge in excess of member’s retail prices or for overpricing in any form;
2). The member has committed fraud against BR or any of BR Members;
3). The member is charging cash without the express consent of BR and/or not following and abiding by members contractual agreement with BR.
GUARANTEE: Should BR fail to offer $500.00 in new revenues for the member within one (1) year of the date of this contract; the membership fee will be returned to the member.
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