Policies and Procedures for B Commerce Trade

The purpose of the following is to establish a contract between B Commerce Trade (BC) and Client and to facilitate trading among clients in promising good business practice and understanding the guidelines set forth for the BC members. These rules apply to all members.

1. Clients will sell their goods and services at their prevailing regular prices for 100% BC trade dollars to other clients in good standing that present a current BC credit card. The selling client is responsible for obtaining an approval number at the time of sale for all transactions. All industry-specific gratuities are still applicable and must be paid in cash. Any transactions that include a cash portion must be previously negotiated and approved by the selling member's branch office.

2. Buyer must have a valid, current BC credit card in order to make a purchase. Client is fully responsible for all charges made on card(s) issued to the client's account.

3. Purchases by clients must be limited to the amount of BC trade dollars in the buyer's account unless client has requested and has been approved for a line of credit by BC on the client's trade account. Approved lines of credit may be adjusted at any time by BC. Clients may be required to compensate BC in cash on demand for any deficit amount in their trade account resulting from purchases made without sufficient trade dollar balances or appropriate trade account lines of credit. BC maintains an express security interest (lien) against the trade account balance as security for any fees due at any time to BC.

4. Trade between BC clients, in any other manner, including through another trade exchange will not be permitted without the prior authorization of BC. If such a trade is consummated and discovered, the applicable transaction fees will be considered due and payable to the BC branch(s) involved upon demand.

5. BC reserves the right to charge and demand transaction fees in advance of any transactions that exceed $2,000.00 (two thousand) unless prior arrangements are made with the client's local exchange office.

6. An administration fee of $10.00 trade dollars and $10.00 cash will be automatically debited by BC from each client's account monthly.

7. Trade transaction disputes are only between the buyer and the seller, and shall be settled by the parties themselves. Any subsequent adjustments will be reflected on their future trade account statements. The exchange is not a party to any transaction.

8. The client acknowledges that all trade transactions are entered into on a voluntary basis and are between clients. Although BC may give referrals as a service to its clients, BC assumes no responsibility for the quality, timely delivery, warranty, or dispute of any nature as a result of products or services obtained through the trade exchange. The client does hereby indemnify and hold BC harmless with respect of any claim, debt or liability as a result of trade transactions.

9. BC reserves the right to suspend all trading of clients whose accounts are past due. BC statements are due and payable upon receipt. All statements are emailed or mailed out on the 1st of the following month. If payment is not received in a timely fashion, the member will incur a late payment penalty of $25.00. In addition members will be charged a variable interest per month. The suspension of trading privileges will be in effect until the account is brought to current.

10. Trade dollars shall not be considered as legal tender, securities or commodities, by either BC or its clients, and may not be redeemed for cash under any conditions.

11. Any account continuing in a delinquent status for three consecutive months may be closed without notice by BC. Any and all trade dollars in the client's account will be considered forfeit and placed by BC in its Trust Account until the fees are paid. The client may reclaim the account and trade balance paying the outstanding cash fees within 90 days of the balance forfeiture. After that time, BC at its discretion may assume the trade balance in lieu of the fees owing.

12. Client's monthly statement will be considered accurate as printed unless BC is notified of any discrepancy by the 1st day of the month in which it was mailed (or emailed) to the client. Client's statement will be considered received five (5) days after mailing by Canadian mail or emailed as appropriate.

13. BC may place an account on hold and/or cancel their membership;
(a) BC has received one (1) verified complaint on a given client for either poor performance or attempting to charge in excess of the client's normal regular prices or violation of any BC Policies and Procedures.
(b) Client has committed fraud, either on the clients or on BC.
(c) Client is charging cash in excess of contract allowances or not following the contractual agreement with BC.
(d) Clients trade directly with one another in order to avoid transaction fees.
(e) Client's account is delinquent for more than three consecutive months. (See paragraph 11.)
(f) Member behaves in an aggressive, abusive or confrontational style without respect to fellow members or to management of B Commerce.

14. Client may request that their account be placed on stand-by (not trading) under the following conditions (all conditions must be met):
(a) Client's cash fees must be current and paid in full.
(b) Client's account must have a balance in excess of $5,000 (five thousand trade dollars).
(c) Client must honour all scrip and product or service certificates in circulation.

15. BC shall continue to solicit new businesses having products and services to satisfy the needs of all clients. No client shall be granted an exclusive status.

16. If this agreement is accepted by BC and an exchange trade account is opened, the company, the individual signing for the company and authorized cardholder using the credit card, hereby assumes joint and individual responsibility for all purchases made and any fees incurred as outlined in this agreement.

17. BC may, at its sole discretion; change the terms of the agreement from time to time by giving the client thirty (30) days prior written notice. BC reserves the right to change the annual retainer fees, maintenance fees and transaction fees from time to time. Client will receive thirty (30) days written notice of any such change.

18. The client assumes all responsibility for charges made with authorized credit cards. Those persons with authorized credit cards may spend any trade balance and credit limit associated with the client's trade account unless and until written revocation of authorization is received by BC. BC assumes no liability and it is agreed, will be held harmless for business partners or other authorized cardholders who spend the trade dollars of the account.

19. All client merchandise accepted into any BC merchandise inventory is subject to return to the seller if it is: (a) defective; (b) damaged; or (c) not traded within thirty (30) days. Client merchandise accepted for BC merchandise is subject to a minimum 10% stocking fee. Any such fee will be deducted from the value of the merchandise at the time of purchase from the client. All such merchandise will be considered free and clear of liens and encumbrances of any kind.

20. It is agreed and understood that BC is not a party to nor acting in a fiduciary capacity to any sale or exchange between members, and that BC makes no warranties, expressed or implied, including implied warranties or merchantability and fitness for a particular purpose, with respect to goods or services sold or exchanged between clients of BC.

21. Any client that has a cheque returned or declined payment to BC will be charged $25.00 in Canadian funds per occurrence. Such charges will be added to the client's cash fees owing, and shall be treated as past due.

22. The client grants BC the right to utilize its name and business location in membership directories, advertising, marketing publications or other media during membership and following termination.

23. The client shall not, at any time, during the pendency of this agreement, nor at any time within one year following the termination or expiration of this agreement; directly or indirectly, within 75 miles of any BC office, enter into or engage in the operation of a barter exchange business or any other similar business that is reasonably similar to the business activity of BC. This covenant shall apply to all parties that are or were authorized to use BC credit cards.

24. BC client agrees to pay any and all (cash and barter) fees owed on their trade dollar balance in advance on an account closure or spend out. Non-compliance will result in forfeiture of clients trade dollar balance.

25. Client agrees to honour all valid B Commerce cards and any certificates issued, unless prior arrangements are made to the satisfaction of BC in writing, failing which client shall be held responsible for any damages caused to BC or its clients. In this regard only, BC shall have the unilateral and sole right to take legal action before the Courts in Ontario.

26. All accounts that remain inactive for a period of 12 months are subject to suspension or forfeiture of trade dollar balance. The account will be charged a deactivation fee. Members will continue to be charged the monthly cash and trade fee.