Marketplace Rules. The Marketplace Rules describe the terms and conditions applicable to your use of the Exchange including our services under the domain and subdomains thereof (the "Website"). Our Fee Policy is set forth as a part of the Exchange Rules. The purpose of Exchange is to enable and facilitate fair transactions among and between Exchange Members ("Members") by fostering a system of good business practices. They set out the means by which The Exchange provides you with services and the way in which you must conduct transactions and other business with other Members.
"Services" means the services provided by The Exchange in providing a forum for cashless business transactions and acting as a third party record-keeper and administer of the clearinghouse function of the Exchange for Members who subscribe to our record keeping and payment processing services. We may, in our sole and absolute discretion, contract with others to provide all or part of such record-keeping, administrative or payment processing services.
"Member" or "You" means: (a) in the case of the hard-copy version of the Member Agreement, the business entity signing the Member Agreement whether a corporation, a sole proprietorship, a partnership or approved individual; and (b) in the case of the on-line version of the Member Agreement, the business entity or approved individual accessing this Member Agreement and accepting the same who then obtains a unique Member ID and password to continue to use the The Exchange Services.
"Trade Dollars" are equivalent to cash and are based on regular currency. One US Dollar = One Trade Dollar. Trade dollars are a unique form of currency that give your business buying power in the Exchange. It's important that your trade dollar is well respected and stable.
"The Exchange" ensures the value of your trade dollars by providing the system that they reside in by keeping it economically stable and properly managed. Our experience and expertise guarantees that trade dollars earned will retain their value. As long as you remain a member, your trade dollars never expire, never lose value or buying power.
Changes to Member Agreement. The Exchange reserves the right to alter and change the terms of the Member Agreement. We may amend this Member Agreement at any time by posting the amended terms on the Website. Unless otherwise amended in a writing signed by you and The Exchange, all amended terms shall automatically be effective 30 days after they are initially posted on the Website. In addition, you will be notified of such alteration or change to the Member Agreement by email. You agree that your use of our Services after notification of any changes to the Member Agreement constitutes agreement to the terms of the changed Member Agreement.
Services and payment.
The Exchange is a cashless payment processing and transaction clearinghouse providing a set of Services to its Members on the basis set out in this Agreement. You have elected to pay for such Services in accordance with the terms as follows: as stated on our website - www.LIBusinessXchange.com
You duly authorize The Exchange to collect monthly dues and/or past due payments via any and all of the following methods: Credit Card, e check, check by Phone, check by Fax, ACH debit, EFT debit, Money Order or any other form of payment provided for your account. Failure to timely pay the fees due the Exchange shall result in forfeiture of your earned barter dollars. Said forfeiture will not be deemed a waiver by the Exchange of entitlement to the amounts owed to the Exchange and no cash credit will be applied towards the cash amounts due based upon a forfeiture of the member's barter dollars.
Representations and Covenants of Member
You represent and warrant that:
You are over the age of 18 and have the power, authority and capacity to enter into the Member Agreement and to bind yourself to the terms, conditions and obligations set forth therein and herein. If you are registering as a business entity, such entity is a bona fide and legal corporation, sole proprietorship or partnership, and you have the authority to bind the entity to our Member Agreement.
The information provided by you on the Member Agreement is true, accurate and correct and properly describes you and your business;
You have provided The Exchange a valid credit card, debit card, checking account information, or other method of payment of fees; and
You understand, acknowledge and agree that:
The Exchange dollars are not considered legal tender, securities or commodities by The Exchange or its Members and may not be redeemed for cash
Transactions involving The Exchange dollars are generally treated as taxable events for federal, state or provincial, and local tax purposes, and you will seek independent professional tax advice if you need it.
In the event of investigations of violations of Rules or use of the Website, The Exchange will cooperate with all government officials, international organizations and law enforcement authorities seeking to clarify whether any Member has violated the law.
We reserve the right to accept or reject your application as a prospective Member of the any reason, in our sole discretion.
Your acceptance as a Member is subject to our approval of your credit standing. By signing below, you agree to allow us to obtain a credit report from a regional credit-reporting agency at our expense, for the purpose of evaluating your credit risk. You acknowledge that we report delinquencies to credit reporting agencies.
Counterparts; Fax and Email Signatures. This Agreement may be executed in any number of counterparts and the parties agree that each such counterpart shall be deemed an original. The Exchange may, and Member agrees that The Exchange may, accept a faxed or emailed signature as an original, legal signature.
No Waiver of Right. The Exchange'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. The Exchange's remedies are cumulative and are not exclusive of any remedies provided by law.
Entire Agreement/Severability. This Agreement constitutes the entire agreement and understanding of the parties with respect to the subject matter of this Agreement, and supersede all prior understandings and agreements, whether oral or written, between or among the parties hereto with respect to the specific subject matter hereof. If any provision of this Agreement is determined by any court to be invalid, illegal, or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision shall be stricken from this Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal, or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Agreement.
Attorney's Fees. In the event an arbitration, suit or action is brought by any party under this Agreement (including the documents referred to herein), to enforce any of its terms, or in any appeal therefrom, it is agreed that the prevailing party shall be entitled to reasonable attorneys fees to be fixed by the arbitrator, trial court, and/or appellate court, in the action and on appeal. Any sums, which may be awarded to The Exchange by judgment, shall be in United States dollars rather than The Exchange dollars.
Governing Law; Arbitration. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to that body of laws pertaining to conflicts of law. Other than for debt collection matters, the parties agree that any dispute, claim or other litigable difference between them shall be exclusively resolved by submission to binding arbitration pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Arbitration shall be held in Suffolk County, NY. The prevailing party shall be entitled to an award from the arbitrator of declaratory relief, preliminary and permanent injunctive relief, compensatory damages, reasonable attorney fees and costs of the action. The decision of the arbitrator shall be entitled to enforcement in any court of competent jurisdiction.
Venue. Any action brought by any party to this agreement shall be filed, and venue shall lie only in the courts of Suffolk County, New York, United States of America, to which jurisdiction and venue Member hereby specifically consents, provided however, that if The Exchange has assigned its cause of action against Member to any debt collector or collection agency, such action may be brought in a judicial district or under the jurisdiction of the court having the venue where Member resides, or is doing business, or is situated.
Assignment. Member may not assign any of its rights under this Agreement without the consent of The Exchange. Only the Member entering in to this Member Agreement or Authorized Users designated by Member and approved by The Exchange may utilize the Services provided by The Exchange. The Exchange may, in its sole discretion, assign and transfer its rights under this Agreement, including without limitation, all right, title and interest in and to Member's accounts receivable, and all proceeds and collections relating thereto, which outstanding receivables arose from dues and fees billed to and balances owed by Member.
Fax and email signatures: The Exchange will, and member agrees that The Exchange may, accept a faxed or e-mailed signature as an original, legal signature.
Entire agreement: Member acknowledges that it is not relying on any oral representations concerning this Agreement and that the complete agreement between the parties is contained in the Super Marketplace member or membership Application, this Agreement and the Policies & Procedures.
No waiver right. The Exchange'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. The Exchange's remedies are cumulative and are not exclusive of any remedies provided by law.
Indemnification: Member AGREES TO HOLD HARMLESS AND The Exchange, IT'S OFFICERS, AGENTS, REPRESENTATIVES, ASSOCIATES AND ASSIGNS FROM ANY LOSSES, LIABILITY OR DAMAGES WHICH MAY RESULT FROM Member Exchanges' PARTICIPATION IN ANY OF The Exchange TRANSACTIONS, ACTIVITIES, PROGRAMS, PROMOTIONS, OR ADVERTISING, INCLUDING THE COSTS OF LITIGATION AND ATTORNEYS FEES.
Judgment settlement: In the event of a dispute between The Exchange and Member resulting in a judgment entered on behalf of the Member against The Exchange or any of its subsidiaries, parent companies or officers, member agrees that The Exchange shall have the right to satisfy said judgment in Exchange Barter trade dollars or cash.
Personal Guarantee It is agreed and understood applicants are enrolling personally and use by their corporation is as a convenience - the obligations of our member, financial and otherwise, are personally guaranteed by the applicant individually and on behalf of their company