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    Membership Application and Agreement



    I hereby apply to join the Americas Barter Exchange and subscribe to Americas Barter Exchange's administrative services.  All trading activities will be governed by the "Transaction Rules" below.  I  agree all additional signers on this account will also be bound by the same rules and hereby indemnify Americas Barter Exchange for any violations.  I certify the information provided on this application is true and correct.  The Transaction Rules constitute the entirety of this Agreement.  Should disagreements arise, the Transaction Rules will be used to resolve them.

    I understand and agree I will pay a $10/mo cash fee (auto withdrawal from checking account, debit card, or credit card) and a $10/mo Trade Dollar debit for my on-going membership.  I also understand and agree to pay a five percent (5%)  cash fee for each sale I make through the exchange and a five percent (5%) cash fee for every purchase I make through the exchange. 

Membership Agreement and Transaction Rules

A. CONTRACT AND MODIFICATION OF CONTRACT
The following Membership Agreement and Transaction Rules (the “Rules”) constitute the contract by and among Member ("Member") and Americas Barter Exchange, LLC, a Utah Limited Liability Company ("ABE") and are a part of the ABE Member Application. Any use of the ABE Exchange (“Exchange”) to facilitate a transaction by an Exchange member (Member) constitutes acceptance of all terms and conditions of the Rules as most recently adopted by ABE. The Rules apply to all ABE Members and to all transactions facilitated by the Exchange. In its sole discretion, ABE, only, may amend the rules.
 
B. PARTICIPATION IN THE EXCHANGE

1. NATURE OF THE PARTIES
a. The Exchange is the 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 ABE or its designee and through the medium of ABE Dollars. ABE functions as a clearinghouse for the transactions of the Exchange membership.
 
b. ABE regulates the Exchange. ABE acts as a third party record-keeper and administers the clearinghouse function of the Exchange for members of the Exchange (Members).  ABE 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 Exchange and hereby subscribes to ABE's services.  Member warrants that it is in compliance with all State, Federal, industry, and professional laws and regulations.
 
2. SALES; SURCHARGE
a. Member agrees to sell its goods and/or services for ABE Dollars at its prevailing or normally advertised cash prices and on the same priority given cash customers, but may exclude 'sale' items.

b. In transactions exceeding ABE Dollars 5,000.00, only, buyer and seller MAY negotiate for a portion of the excess of the price over ABE Dollars 5,000.00 to be paid in cash.
 
3. CONTINUING SERVICES FEES
a. Member will pay ABE continuing cash service fees for record-keeping and administrative services.  All fees and charges that Member pays ABE are for services rendered in processing members into the Exchange, maintaining records, operating the clearinghouse, administering the Transaction Rules, and facilitating Member's use of the Exchange. These fees are presently all fees specifically described in ABE’s most currently published ABE Price Schedule, plus the special service charges described below in this agreement.
 
b. Late Fee:  A Late Fee of ten dollars ($10.00) cash and ten ABE Dollars (TD 10.00), will be charged each month to Members whose cash fees due on Member's account are not received by ABE within thirty (30) days of Statement date.
 
c. Non Sufficient Funds (NSF) cash check returns will be charged $39.00 cash per incident, or the maximum allowed by law, against the originating account. NSF ABE Checks will be charged TD 20.00 against the originating account.
 
d. Cash fees are due to ABE upon receipt of statement. Cash fees are to be sent to the address provided by ABE only.
 
4. SUSPENSION
If cash fees are past due beyond sixty (60) days, Member waives all rights to the use of any positive ABE Dollar balance in Member's account and grants ABE the right to freeze the balance until all cash fees are paid.  If cash fees become past due more than ninety (90) days, any Negative Trade Balance shall be immediately due and payable to ABE in cash.
 
5. TRANSACTION ASSISTANCE
ABE will use its best efforts to assist Members to do business among themselves by, among other things
  • distributing member directories;
  • maintaining current member information on computer files;
  • appointing independent persons or entities as trade directors to provide information on members' goods and services available through the Exchange; and
  • through a computer based business information network.
 
Member acknowledges:
  • the sole principals in any Exchange transaction are the buying and selling Members involved,
  • transactions are entered into voluntarily, and
  • neither ABE nor the Exchange is a guarantor of any transaction or ABE Dollar.

ABE will use its best efforts to:
  • record transactions accurately,
  • administer the Rules, and
  • assist in the sale of Member's goods and services to other ABE members.

However, the initiative for using the Exchange's services is exclusively that of the Member.
 
6. AVAILABILITY OF PRODUCTS AND SERVICES
ABE shall use its best efforts to enroll new businesses with products and services to meet the needs of members. Neither ABE nor the Exchange is responsible if Member cannot find specific products or services or customers for their products and services within the Exchange.
 
7. DEFINITION OF "Member IN GOOD STANDING"
A Member who complies with the current Rules and any other agreements in effect with ABE, who is current in the payment of any cash or ABE Dollars owing to ABE and who has a valid Member account, is a "Member in Good Standing." Only Members in Good Standing are entitled to the services of ABE and the Exchange.
 
8. ADVERTISING AUTHORIZATION
Member authorizes ABE to inform other members of the availability of Member's products or services. This includes listings in local, regional, or national directories and listings on the Internet. ABE is neither a party to these sales listings nor responsible for their accuracy.
 
C. ABE TRANSACTIONS

1. WRITTEN DOCUMENTATION.  
Maintaining any written documentation of the transaction, including an authorizing signature from the Buyer, in case of dispute, is the sole responsibility of the Seller. If no signed authorization from the Buyer is kept, the transaction may be reversed at the Buyer's written request, but not after 120 days from the date of the transaction.  ABE has the right but not the obligation to reverse transactions due to non-compliance with these Rules or failure to provide goods or services as represented, in which event, it will be the Buyer’s responsibility to collect goods or services owed from the Seller. Transactions are subject to final audit and verification by ABE and, in case of inaccuracies or non-compliance, ABE may debit or credit Member's account without notice.

2. TIPS AND GRATUITIES
Member shall pay tips and gratuities in cash at point of purchase.
 
3. PRODUCTS SOLD BY ABE
For all products and scrip for services owned and sold by ABE, the only warranty ABE makes is that it has title free and clear from any lien or encumbrance. Products are sold "As is, where is." ABE makes no warranty, either express or implied, by operation of law or otherwise, as to the merchantability or fitness for a particular purpose of such products or services, and Buyer shall look solely to the manufacturer, distributor, or retailer of such merchandise for any warranty.
 
4. DISCLAIMER OF WARRANTY AND LIABILITY
ABE 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 ABE 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 Exchange, in which Member participates, is entered into by Member on a voluntary basis.
 
5. TAXES
Seller shall be solely responsible to collect and remit to the appropriate taxing authorities the applicable GST, sales, excise, use, or other taxes and shall collect and record these as required by law. Under no circumstances is ABE responsible to pay any GST, sales, excise, use, or other taxes on behalf of any Member. Transactions involving ABE Dollars are generally treated as taxable events for federal, state or provincial, and local tax purposes and ABE reports ABE 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 ABE harmless for any actions ABE takes to comply with federal, state or provincial, and local laws.
 
6. DISPUTES
a. Transaction disputes concerning the quality or nature of goods or services purchased are between the Buyer and Seller ONLY.   Neither the Exchange nor ABE has any responsibility in connection therewith other than recording transactions. ABE and the Exchange are not responsible for use of ABE Dollars by unauthorized persons, nor for transactions that do not comply with the Rules.
 
b. In situations where a Buyer disputes having entered into a transaction, it shall be the responsibility of the Seller to provide ABE with written verification from the Buyer authorizing the transaction (e.g., signed ABE Check, signed contract specifying goods or services to be supplied and amount of purchase, etc.) or written verification by the Buyer that Buyer is rescinding the dispute of the transaction, within fourteen (14) calendar days of notice being given by ABE to Seller of the disputed transaction. If such documentation is not received within that time, the transaction will be reversed. No transactions will be reversed after one hundred twenty (120) days after the date of the disputed transaction.
 
7. ARBITRATION
Any claim arising under this agreement or any other agreement between ABE and Member shall be resolved by binding arbitration.  The laws of the State of Utah shall govern all aspects of such arbitration, including its initiation, procedures, finality, and enforcement.
 
D. ADMINISTRATION OF THE EXCHANGE AND ABE DOLLARS

1. NATURE OF ABE DOLLARS  
Members conduct transactions (purchases or sales of goods or services) using the ABE 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 ABE Dollars.
 
An“ ABE 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 Exchange, and regulated by ABE.  ABE Dollars denote value received for goods or services sold, and may be exchanged for other goods or services made available by Exchange members.  ABE Dollars may be used only in the manner and for the purposes set forth in these Rules. Neither ABE nor Member shall consider ABE Dollars as legal tender, securities, or commodities. ABE Dollars in international transactions will be tendered at the international rate of exchange, as determined by the Exchange, at the time of the transaction. ABE disclaims any and all responsibility for the negotiability of ABE Dollars or for the availability of goods or services from any source.
 
2. LIABILITY FOR ABE DOLLARS
Member acknowledges that ABE Dollars in the Exchange (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 ABE transactions incur the normal business risks associated with any credit transaction.  ABE Dollars are solely the liability of Members who owe ABE Dollars to the Exchange and are not the liability of ABE.
 
3. ALLOCATION OF GOODS AND SERVICES
Member acknowledges that regulation of purchases, control of credit extension, and allocation of goods or services in short supply are inherent in ABE's responsibilities. Decisions regarding exercise of these responsibilities are at ABE's sole discretion. Member acknowledges that some accounts are primarily or solely for the use of ABE, its principals or employees. ABE acknowledges that with respect to those accounts, it is bound by these Rules in the same manner as any other member.
 
4. RIGHT TO REGULATE AND BORROW  
Member acknowledges and grants to ABE the right and power to regulate and control the number of ABE Dollars within the Exchange.
 
E. BREACH OF THE RULES

1.  TRANSACTION RULE VIOLATIONS
ABE has the right, but not the obligation, to inquire into complaints of Rule violations by Member. Member grants to ABE the right to take such actions which, in ABE's sole discretion, are deemed necessary. Violations of the Rules may result in termination of Member's account and/or immediate adjustment to the transactions involved. If Member fails to buy from and sell to other Members in Good Standing in accordance with these Rules, Member will be in material breach of the Rules. If Member violates any term of the currently effective Rules, ABE may immediately terminate Member's account or may freeze all activity in the account without notice. In its sole discretion, ABE may reinstate Member or unfreeze Member's account.

2. SUSPENSION OF TRANSACTION PRIVILEGES
ABE reserves the right, in its sole discretion, to suspend the transaction privileges of any member who is in violation of any local, state or provincial, or federal law, who engages in overpricing, direct trading with other ABE members (i.e. not through the Exchange), or otherwise violates the Rules, or when cash fees are due to ABE and unpaid for more than one calendar month. In the latter case, transaction privileges shall be reinstated immediately upon payment of cash fees due.
 
3. PAST DUE FEES
In its sole discretion, ABE may terminate Member accounts with cash fees owing beyond ninety (90) days and may assess a cash collection fee in such amount as may be specified by ABE from time to time.
 
4. TERMINATION
Either party may terminate this Agreement upon five (5) days written notice to the other party. Upon termination:
 
a. All cash and ABE 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 ABE Dollars within one month of termination date. After said one month period, Member must immediately pay ABE any remaining negative balance in cash.
 
c. Any Member with a positive account balance (where sales exceed purchases) may spend the positive balance after paying ABE the cash service fees on the positive balance. After payment of fees, ABE Trade Exchange Certified Checks will be issued to Member for the remaining positive balance.
 
d. ABE Checks and other unused ABE transaction materials must be returned immediately upon termination.
 
5. LIQUIDATED DAMAGES IF TERMINATED FOR CAUSE
A violation of the Rules damages ABE and the Exchange in a number of ways that are difficult to quantify. These may include, but are not limited to, administrative costs in dealing with the violation; financial injury due to loss of cash service fees and/or expenditure of funds, such as in collection actions; loss of member goodwill toward the Exchange and ABE; and loss of trading volume and members. Member and ABE agree that Member shall pay ABE the sum of Seven Hundred Fifty dollars ($750.00) cash, as liquidated damages and not a penalty, to ABE if Member is terminated for violation of the Rules for other than overdue cash fees. Damages must be paid within thirty (30) days of the date of notice of termination of Member's ABE Account. If Member has a positive account balance, the liquidated damages must be paid in addition to the requirements of paragraph E.4 above before the account balance will be converted to ABE Certified Checks.
 
6. DRAFT/VOUCHER PASSING
Member shall not give or receive a ABE Check or other ABE transaction material with the buyer's name left blank or receive a third-party ABE Check.  Such transactions may result in suspension of transaction privileges or termination of Member's account subject to the provisions of paragraph E.5 above.
 
7. SPEND OUT/CANCELLATION
If ABE reasonably believes that a Member is spending out its account balance in anticipation of canceling future participation in ABE, or if Member has requested termination, then ABE shall require the prepayment of cash service fees on the remaining balance held in Member's account.
 
8. SECURITY INTEREST, INSOLVENCY
Member hereby grants ABE a security interest in all ABE 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. ABE shall have the option, in lieu of filing as a creditor, of treating the ABE Dollar balance as equal in value to the amount of cash fees owing, and terminating the account; provided however, that if ABE does receive all of its cash fees in full, ABE shall reinstate the ABE Dollars to the Member's account.
 
F. MISCELLANEOUS

1. FAX or ELECTRONIC SIGNATURES
ABE will, and Member agrees that ABE may, accept a faxed or electronic signature as an original, legal signature.
 
2. LEGAL REQUIREMENTS
Member shall abide by applicable International, federal, state or provincial, and local laws or regulations pertaining to Exchange transactions. ABE shall not be responsible for any failures on the part of Member to comply with such laws and regulations. Member agrees not to hold ABE liable for any action ABE takes to comply with applicable laws or regulations.
 
3. NO WAIVER OF RIGHT
ABE'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. ABE's remedies are cumulative and are not exclusive of any remedies provided by law.
 
4. SEVERABILITY; ATTORNEY'S FEES
Every item contained in these Rules is severable from every other term herein. If any term should be judged unenforceable, it shall not affect the enforceability of other terms outlined in these Rules. If legal action must be taken by ABE against a Member to enforce any provision of the Rules, Member shall pay ABE 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.
 
5. WARRANTY OF INFORMATION
Member warrants that it provides all information to ABE in good faith and that such information is accurate to the best of Member's knowledge.
 
6. APPLICABLE LAW
All interpretation of the Rules shall be governed by the laws of the State of Utah, United States of America, and in the English language. Any sums which may be awarded by account or arbitrator to ABE shall be in United States dollars rather than ABE Dollars.
 
7. VENUE
Any action brought by any party to this agreement shall be filed, and venue shall lie only in the courts of Utah County, Utah, United States of America, to which jurisdiction and venue Member hereby specifically consents.

Effective February 15, 2014