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Acceptance of Terms
This is a legal agreement between you, the user, together with any company or other business entity you are representing (collectively, the “User”) and Barter Systems, Inc. (BSI), with a principal place of business at 3717 Decatur Avenue, Kensington, MD 20895.
BY CLICKING THE “I ACCEPT” BUTTON, USER AGREES TO BE BOUND BY THE TERMS OF THIS AGREEMENT AND TO LOOK SOLELY TO BSI FOR THE PERFORMANCE OF THE SERVICE. This Agreement governs the access and use of services provided by or through the BSI Web site (the “Service”). If User does not agree to the terms of this agreement, click on the “I DO NOT ACCEPT” button and do not access or use the Service. All questions concerning this Agreement should be directed to: Member Relations, Barter Systems, Inc. 3717 Decatur Avenue, Kensington, MD 20895. By accepting the terms and conditions of this Agreement, User represents, warrants and covenants that (a) User is 18 years old or older; (b) User is capable of entering into a legally binding agreement; (c) User is a resident of the U.S. and the business is duly authorized to do business in the US; (d) User is duly authorized to, and does hereby represent and legally bind, any company on behalf of which User is registering with respect to this Agreement and all transactions conducted under this account in connection with the Services. USER AGREES THAT IF BSI IS PROVIDED WITH A FALSE OR INCORRECT FEDERAL TAX IDENTIFICATION NUMBER, OTHER TAX INFORMATION OR SIGNATURE OF USER, USER MAY BE LIABLE FOR PERJURY OR OTHER OFFENSE IN ACCORDANCE WITH FEDERAL LAW, FRAUD OR MISREPRESENTATION, AND BSI HAS THE RIGHT TO IMMEDIATELY SUSPEND USER’S ACCOUNT.
UPON ACCEPTANCE as a CLIENT of BSI, I/WE AGREE:
* To offer our products and/or services for trade dollars only, at prevailing prices, to other Clients in good standing.
* To pay BSI a one-time set-up fee of $295.00. To pay BSI a cash transaction fees of 7.5% on all sales and 7.5% on all purchases(Note: 6.5% and 6.5% when cash fees are paid by a credit card.). These fees are applied to the gross value of each transaction with Other BSI Clients or their trade exchange affiliates. Every transaction involving BSI trade dollars shall be commissionable. If you choose to pay BSI fees by check, a credit card back up would be needed in the event such fees have not been satisfied 60 days beyond their due date. After 60 days, to begin paying a monthly maintenance fee of 12.00 trade dollars and $12.00 cash. If a trade event has not taken place within this period, then the monthly fee would begin upon the first purchase or sale that is conducted after the 60 days has elapsed
* That I/We recognize and grant BSI the right and power to regulate and control the number of outstanding trade dollars with BSI.
* That I/We recognize and grant to BSI, and those having an ownership interested in BSI, the right and power to borrow from the exchange and spend within the exchange system, an amount which shall not exceed one (1 ) year's gross receipts by BSI. Such borrowing will be sufficiently collateralized by specifically pledged assets of the system pursuant to the guidelines established and imposed by the International Reciprocal Trade Association (RTA Regulation #1).
* That I/We have read the BSI Policies and Procedures, that they are binding upon us fully as the conditions and provisions of our 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.
* I/We agree that this contract will be enforced and regulated according to the laws of the State of Maryland and we agree any legal actions on this contract for enforcement or collection will be Venued in the State of Maryland.
It is hereby understood and acknowledged that this Agreement and the referenced BSI Policies and Procedures constitute the entire Agreement as between the parties for Account Applications and shall be binding upon to heirs, successors, administrator and assigns of Client. It is further understood that this Agreement will become effective when signed by the Client and approved by an officer of BSI. The individual signing this agreement hereby states and warrants the he/she has the authority to sign contracts on behalf of the Client, and that the Client is registered to do business in all States where it operates, is in Good Standing in all such States and will remain in Good Standing in all such States during the duration of this Agreement.

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  • Barter Systems, Inc. User Agreement

 

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