Southern Barter ClubMembership AgreementA. CONTRACT AND
MODIFICATION OF CONTRACT The following terms
& conditions constitute a contract by and among Member
and Southern Barter Club. Any use of Southern Barter Club to
facilitate a transaction by a Network Member (hereinafter Member) constitutes
acceptance of all terms, conditions, policies and procedures as most recently
adopted by Southern Barter Club. They apply to all Southern Barter Club
Members and to all transactions facilitated by Southern Barter Club. At its
sole discretion, Southern Barter Club may amend this Agreement by giving Member
thirty (30) days written notice via e-mail. Southern Barter Club 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 Southern Barter Club 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 1.
NATURE OF THE PARTIES a) Southern
Barter Club operates 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
Southern Barter Club or its designee and through the medium of Southern Barter
Club Trade Dollars. Southern Barter Club functions as a clearinghouse for the
transactions of the Network membership. b) Southern
Barter Club regulates the Network. Southern Barter Club acts as a third party
record-keeper and administers the clearinghouse function of the Network for the
Members. Southern Barter Club may contract with others to provide all or part
of such services. c) Member
is a bona fide and legal business that desires to do business with other
members of the Network and hereby subscribes to Southern Barter Club's
services. Member warrants that it is in compliance with all State, Federal,
industry and professional laws and regulations. d) Southern
Barter Club 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 old. f) The
member bears sole responsibility for the authentication of the identity of any
person Member may trade with. Because authentication is difficult particularly
on the internet, SBC cannot and does not confirm any Person’s purported
identity and should establish their own standards for
identity authentication. 2.
DISCLAIMER OF WARRANTY AND LIABILITY Southern Barter Club
makes no representation or warranty, either express or
implied, and disclaims all liability, as to the fitness, quality, delivery
date, merchantability, prices or any term of any trade transaction. Member
agrees to indemnify and hold Southern Barter Club 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 Southern Barter Club arising out of any computer or
software malfunction or processing errors. 3.
TAXES 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 Southern Barter Club responsible to pay any taxes on
behalf of any Member. Transactions involving Southern Barter Club Trade Dollars
are generally treated as taxable events for federal, state or provincial, and
local tax purposes and Southern Barter Club reports Southern Barter Club 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 Southern Barter Club harmless
for any actions Southern Barter Club takes to comply with federal, state or
provincial, and local laws. C. ADMINISTRATION OF
THE EXCHANGE AND SOUTHERN BARTER CLUB TRADE DOLLARS 1. NATURE OF SOUTHERN BARTER CLUB TRADE
DOLLARS a)
Members conduct transactions (purchases
or sales of goods or services) using the Southern Barter Club accounting
system. Payments are made by posting debits and credits to the buying and
selling Members' respective accounts, pursuant to these Rules and in the form
of Southern Barter Club Trade Dollars. b)
"Southern Barter Club Trade
Dollar" is 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
Southern Barter Club. Southern Barter Club Trade Dollars denote value received
for goods or services sold, and may be exchanged for other goods or services
made available by Southern Barter Club Members. Trade Dollars may be used only in
the manner and for the purposes set forth in this Agreement and the Policies
and Procedures. Neither Southern Barter Club nor Member shall consider Southern
Barter Club Trade Dollars as legal tender, securities, or commodities. Southern
Barter Club disclaims any and all responsibility for the acceptance or
negotiability of Southern Barter Club Trade Dollars or for the availability of
goods or services from any source. 2.
LIABILITY FOR SOUTHERN BARTER CLUB
TRADE DOLLARS Member acknowledges
that Southern Barter Club 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 Southern Barter Club transactions incur the normal business risks
associated with any credit transaction. Any positive trade balances are solely
the liability of Members who owe Southern Barter Club Trade Dollars to the
Exchange and are not the liability of Southern Barter Club. a) Member
acknowledges and grants to Southern Barter Club the right and power to regulate
and control the number of Southern Barter Club Dollars within the Network. b) Member
grants to Southern Barter Club the right and power to borrow from the Network. c) Member
is NOT authorized to sell Southern Barter Club Trade Dollars for cash. D. SUSPENSION OR
TERMINATION 1. If Member violates this Agreement or the
currently effective Policies and Procedures, Southern Barter Club may
immediately terminate Member’s account or may freeze all activity in the
account without notice and/or make immediate adjustment to the transactions
involved. At its sole discretion, Southern Barter Club may reinstate Member or
unfreeze Member’s account. 2.
Either party may terminate this
Agreement upon seven (7) days written notice to the other party. Upon
termination: a) All
cash and Southern Barter Club Trade Dollar service fees outstanding become due
and payable immediately. No service fees will be refunded. b) Any
Member with a negative account balance (where purchases exceed sales) must
balance their account with Southern Barter Club Trade Dollars within thirty
days of termination date. After said thirty day period, Member must immediately
pay Southern Barter Club 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 Southern Barter Club. |