These Rules, Regulations, Policies and Procedures of Barter of America.com
Inc. (the "Rules") were established to explain and define the
rights and responsibilities of Barter of America.com Inc. ("Barter
of America.com") and its Users. The purpose of the Rules are to enable
and facilitate fair trading among and between Barter of America.com Inc.
and its Users by fostering a system of good business practices and promoting
an understanding of the way in which Barter of America.com provides you
with Services and the way in which You must conduct barter transactions
and other business with other Users.
These Rules are an integral part of the User Agreement (along with other
attachments), and together with the User Agreement, constitute the entire
understanding between Barter of America.com and the User.
1.1 The User represents and warrants that:
(a) User has the power, authority and capacity to enter into the User
Agreement and to bind such User to the terms, conditions and obligations
set forth therein and herein;
(b) User has read, completed, executed and delivered a User Agreement;
(c) The information provided by the User on the User Agreement is true,
accurate and correct and properly describes the User and its business;
(d) User has carefully read, understands and accepts these Rules and
the terms, conditions and obligations set forth in the User Agreement;
and
1.2 User agrees to indemnify and to hold harmless Barter of America.com, Inc., from any and all claims, damages and expenses, including reasonable attorney fees, arising out of actions or conduct in violation of the User Agreement, which incorporates these Rules by reference.
1.3 United States based Users must provide a Federal Employer's Identification
Number (FEIN), if any. In the case of a sole proprietorship or a partnership,
for U.S. tax purposes, Users must provide a Social Security Number (SSN).
1.4 Every transaction involving Barter of America.com trade dollars with
Users and/or affiliated exchanges is subject to cash fees. All cash fees
earned by Barter of America.com are for services rendered and transaction
processing fees.
1.5 Barter of America.com reserves the right to charge cash fees on all
purchases and sales including, but not limited to, those purchases and
sales that include a cash/Barter of America.com trade dollar component.
1.6 User is solely responsible for all charges made to the Users account.
For all Users conducting transactions online, You are responsible for
the security of your User ID and your unique password. All transactions
are captured, logged and verified by Barter of America.com in accordance
with the Barter of America.com Security Statement. However, no security
system can protect You if You divulge your password.
1.7 Users acknowledges reading and agreeing to abide the terms, conditions
and provisions in the Barter of America.com Acceptable Use Policy related
to the Barter of America.com Web site. You must describe the goods and
service You wish to trade or barter using the AUP as a guideline. Barter
of America.com reserves the right to delete any postings, description
or other content posted by You if such content violates the terms of this
AUP. Barter of America.com will fully cooperate with any regulatory authorities
investigating such violations of an AUP, if applicable and in the manner
more particularly described in the AUP.
2. Rules for trading
2.1 All transactions conducted on the Barter of America.com system are
entered into on a voluntary basis between Users and are between the buyer
and the seller only.
2.2 Users will sell, trade and barter goods, services, materials and
labor for 100% trade at their normal prevailing prices for Barter of America.com
trade dollars to other Users in good standing. However, taxes and gratuities
will be paid in cash directly by a buyer to the seller.
2.3 Individual transactions may be negotiated by the parties for a partial
cash payment with prior approval from Barter of America.com.
2.4 Users acting as buyers should access the Barter of America.com Web
site or contact Barter of America.com to verify the status of their present
account prior to each purchase.
2.5 Buyers must have a valid account to make a purchase.
2.6 Purchases by Users acting as buyers must be limited to the amount
of Barter of America.com trade dollars in the buyer's account or available
credit limit. Users may apply for a loan by submitting an application
to Barter of America.com for approval. Users may be required to compensate
Barter of America.com in cash on demand for any deficit amount in their
trade dollar account resulting from purchases made without sufficient
trade dollar balances or without prior loan arrangements.
2.7 Users are solely responsible for ensuring that goods and services
have been exchanged and that the transaction is conducted to the satisfaction
of buyers and sellers. Any disputes are subject to the dispute resolution
procedures set out in section 4 of these Rules.
2.8 You agree to sell products and/ or services to other member businesses
for Barter of America.com trade dollars at the prevailing price and with
the same priority given cash customers.
2.9 Direct trading between Users to avoid cash service fees is prohibited
and is reason for termination from Barter of America.com.
3. Validation of trades and Barter of America.com trade dollars
3.1 To receive credit and Barter of America.com trade dollars for transactions,
a User who is a seller must: (i) obtain electronic verification and approval
from Barter of America.com through the Barter of America.com Internet
system; or (ii) obtain the Buyer's written authorization on a Barter of
America.com.
3.2 Barter of America.com reserves the right to decline to process the
transaction if the Seller fails to obtain such verification or written
authorization.
3.3 Anytime a User's Barter of America.com trade account is in a deficit
position, Barter of America.com has the right to demand immediate payment
in cash for the total trade deficit due and owing and may take any action
to secure such payments if deemed necessary. Barter of America.com reserves
the right to adjust cash balances with User's trade accounts and the User
agrees and acknowledges that Barter of America.com may have access to
pre-authorized credit card accounts which Barter of America.com may access
for any deficit due and owing.
3.4 Although the Barter of America.com server logs and stores information
concerning all transactions (subject to the Barter of America.com Security
Statement and Privacy Statement) it is strongly recommended that Users
keep records of all transactions conducted through the Barter of America.com
system. In the event of an inconsistency between a User's records and
the records maintained on the Barter of America.com server, the User understands
and acknowledges that the records maintained on the Barter of America.com
server will prevail to the extent necessary to resolve any inconsistency.
4. Dispute resolution procedures & limitation of liability
4.1 Barter of America.com is a trading/exchange company that acts solely
as a clearinghouse and third party record-keeper of barter transactions
among its Users. BARTER OF AMERICA.COM'S SOLE FUNCTION IS IN A BROKERAGE
CAPACITY. USER DOES HEREBY INDEMNIFY AND HOLD BARTER OF AMERICA.COM HARMLESS
WITH RESPECT TO ANY CLAIM, DEBT OR LIABILITY WHATSOEVER, ARISING OUT OF
ANY TRADE EXCHANGE TRANSACTION WHEREIN USER IS A BUYER OR A SELLER.
4.2 Although Barter of America.com may give referrals as a Service to
its Users, Barter of America.com assumes no responsibility for the quality,
timely delivery, warranty or dispute of any nature between Users with
regard to any product or service being traded. Disputes of any nature
whatsoever will be settled by the buyer and the seller only by any method
including by way of dispute resolution by a body of competent jurisdiction
by way of interpleaded of the bartered good or service or otherwise.
4.3 USERS SHOULD EXERCISE THE SAME DILIGENCE ENTERING INTO TRADE TRANSACTIONS
AS THEY DO WITH CASH TRANSACTIONS. BARTER OF AMERICA.COM DISCLAIMS ANY
AND ALL IMPLIED WARRANTIES, REPRESENTATIONS AND CONDITIONS OF TITLE, MERCHANTIBILITY,
FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. IN NO EVENT SHALL
BARTER OF AMERICA.COM BE LIABLE TO YOU OR TO ANY OTHER PARTY FOR INDIRECT
DAMAGES OR LOSSES (in contract or tort) IN CONNECTION WITH THE BARTERING
FORUM LOCATED AT BARTER OF AMERICA.COM INCLUDING BUT NOT LIMITED TO DAMAGES
FOR LOST PROFITS, LOST DATA, LOST SAVINGS, OR INCIDENTAL, CONSEQUENTIAL,
OR SPECIAL DAMAGES, EVEN IF CAUSED BY BARTER OF AMERICA.COM NEGLIGENCE
AND EVEN IF BARTER OF AMERICA.COM HAS KNOWLEDGE OF THE POSSIBILITY OF
SUCH POTENTIAL LOSS OR DAMAGE.
4.4 PROVISION OF THE SERVICES DOES NOT IMPLY ENDORSEMENT OF THE GOODS OR SERVICES BARTERED BY USERS. BARTER OF AMERICA.COM HAS NO CONTROL OR MEANS OF CONTROLLING ANY CONTENT OF GOODS OR SERVICES (INCLUDING MESSAGES, STATEMENTS, INFORMATION OR PICTURES DESCRIBING SUCH GOODS OR SERVICE) POSTED BY USER AND THEREFORE EXPRESSLY DISCLAIMS ANY LIABILITY IN CONNECTION WITH SUCH CONTENT WHETHER TO USER, OR TO ANY OTHER THIRD PARTY.
If you are dissatisfied with the Services provided by means of Barter
of America.com, the materials available on or through Barter of America.com,
or with any of Barter of America.com User Agreement, your sole and exclusive
remedy is to discontinue using Barter of America.com and to spend out
your Barter of America.com trading dollars in accordance with the provisions
of section 5.5 of these Rules.
5. Termination of User privileges
5.1 Any User whose cash fees are more than 60 days past due will be considered
"not in good standing" and will not be entitled access to the
Barter of America.com Web site for trading purposes.
5.2 If Users are 90 days past due, User grants to Barter of America.com,
at that time, a security interest in all of the trade dollars in your
account, and Barter of America.com may close User's account, terminate
Users relationship with Barter of America.com and apply all of the trade
dollars in User's account to any outstanding cash balance due. Barter
of America.com may, at its option, use the User's credit card to pay any
outstanding balance owed in trade dollars.
5.3 Barter of America.com reserves the right to freeze and/or cancel a User's account if:
- Barter of America.com has received more than 3 complaints in relation
to a given User for poor performance, charging in excess of User's normal
business prices or violating these Rules or the User Agreement;
- User is charging cash and/or not abiding by the User Agreement;
- User commits fraud;
- User is 60 days past due with their outstanding cash fees;
- Barter of America.com determines that there is reasonable cause for
such termination; or
- User breaches any term of the User Agreement
5.4 Users may request that their accounts be placed on standby/inactive status provided that:
- User's account must not be in a deficit position;
- User must give Barter of America.com 30 days written notice; and
- User's account must not be frozen or otherwise suspended.
5.5 Barter of America.com or User may cancel this Agreement after 30
days written notice to the other party. Upon cancellation in accordance
with this section 5.5, all trade dollars due User must be spent, within
90 days, on products and services available through Barter of America.com
and the User may stay active for the 90 day period and spend the balance
until purchases equal sales by paying Barter of America.com in advance
the cash commission and service fees on the positive balance. Any outstanding
balance due Barter of America.com must be paid in full within 30 days
in cash. Barter of America.com may require advance payment of fees. Upon
termination User must immediately surrender its Barter of America.com
identification card and/or Debit Card, if applicable, to Barter of America.com.
All obligations under these Rules and the Barter of America.com User Agreement
will survive termination of the User's subscription.
5.6 In the event this User Agreement is canceled, there will be no refund
of any fees.
6. Special Rules for Real Estate Transactions
Due to the wide variety of laws governing the sale of real estate, in
addition to the rules set forth in this agreement, any User that conducts
or participates in a transaction involving the sale or lease of real estate
agrees to the following rules:
6.1 Any transaction on the Barter of America.com Web site that involves
the sale or lease of real property shall not be legally binding offers
to buy and sell such property. No User is obligated to complete any real
estate transaction until all requisite documents have been executed and
filed and the transaction has been completed in accordance with the laws
of the jurisdiction in which such property is located. All Users participating
in real estate transactions are strongly advised to seek the help of a
licensed real estate professional and/or real estate attorney to help
such User in the negotiation and sale of any real estate.
6.2 All real estate transactions must be processed and completed by one
or more licensed real estate professional. Barter of America.com will
not be involved in the sale or processing of any real estate transaction.
Barter of America.com will immediately refer inquiries regarding the buying
or selling of real estate to the User offering such property on the Barter
of America.com Web site. When Users have come to terms regarding such
property on the Barter of America.com Web site, the User offering such
property shall contact the User desiring to purchase the property and
discuss entering into a contract for the real estate property.
6.3 Barter of America.com will not solicit real estate for sale, quote
the price of real estate that is for sale or negotiate the terms of any
real estate transaction. Under no circumstances shall Barter of America.com,
market the actual properties for sale as a real estate agent.
6.4 All fees received by Barter of America.com in connection with real
estate transactions effected by Users are fees charged on the Use of the
Barter of America DollarsTM in such transactions.
6.5 Barter of America.com shall not collect, solicit or accept any form
of compensation from any real estate broker or agent, including without
limitation any portion of such broker's or agent's real estate commission,
related to the sale of real estate on the Barter of America.com Web site.
Specifically, all real estate commissions earned by real estate brokers
listing items on the Barter of America.com Web site belong to such listing
brokers.
6.6 All offers to sell property on barter are being solicited by the
seller thereof.
6.7 Any User offering real estate on the Barter of America.com Web site
shall have a valid real estate license in the jurisdiction in which such
offered property is located or be the legal owner of that property.
6.8 All real estate advertising on the Barter of America.com Web site
is subject to:
(a) The Federal Fair Housing Act, which makes it illegal to advertise
"any preference, limitation, or discrimination because of race, color,
religion, sex, handicap, familial status, or national origin, or intention
to make any such preference, limitation or discrimination"
(b) The User Agreement. State or local jurisdictions may impose additional
requirements.
6.9 If any of the rules set forth in the section 6 conflict with the
User Agreement or any of the attachments thereto, these rules apply.
7. General
7.1 A sole-proprietorship, partnership, corporation or other business
entity may become a User subject to acceptance by Barter of America.com.
The person who signs the application must be authorized to enter into
binding contracts on behalf of such User.
7.2 Trade dollars are not considered legal tender, securities or commodities
by Barter of America.com or its Users and may not be redeemed for cash.
7.3 Trade dollars may be treated as taxable income for federal, state,
provincial and/or local tax purposes. Users should seek independent professional
tax advice. The declaration and reporting of all applicable federal, state,
provincial, local and municipal taxes, including but not limited to appropriate
sales and excise taxes and GST, resulting from any trade transaction,
rests solely with the User.
7.4 For Canadian businesses, Revenue Canada takes the view that barter
transactions are within the purview of the Income Tax Act and any transaction
can therefore result in income or expense, and as a result should be considered
on the same basis if this transaction involved cash currency. Barter sales
and expenses should be reported to Revenue Canada as per IT-490 Section
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7.5 The User hereby recognizes and grants to Barter of America.com the right and power to borrow from the exchange and spend with the exchange system.
