Clients will sell goods and services at their current or prevailing retail prices for trade credit to other clients in good standing with All Business Barter. Barter Dollars must be accepted for the total value (100%) of a transaction unless prior arrangements have been made with All Business Barter. Real estate and individual transactions of substantial value may be negotiated for a partial cash payment by prior agreement between Clients. Purchases of equipment for a specific service (such as plumbers, electricians or auto mechanics) may be reimbursed for such purchases in cash. Any mark-up must be accepted in barter dollars.
Members of All Business Barter selling products or services for inflated prices will be given one warning. If a member continues to sell products or services substantially above retail or continues to charge a premium for barter transactions, that member will be expelled from the All Business Barter and forfeit all funds in their account.
Barter dollars shall not be considered as legal tender, securities or commodities, by either All Business Barter or its clients, and may not be redeemed for cash.
Gratuities and taxes, which are standard to the client, shall be collected by the client and shall be paid in cash or other acceptable means at the time of the transaction. All Business Barter shall not be responsible for the failure to collect tax or gratuities.
Buyers must identify themselves to the seller as an All Business Barter member PRIOR to making purchase arrangements. Trade between clients without the knowledge or approval of All Business Barter is prohibited, and if consummated, is subject to a cash transaction fee from both the buyer and the seller at the current All Business Barter rates. Continued violation of this policy will result in expulsion from the All Business Barter.
Purchases by Clients will be limited to the amount of barter dollars accrued to their accounts unless secured by collateral and approved by an officer of All Business Barter. Client grants to All Business Barter the right and power to make barter dollar loans to any client on terms and conditions consistent with the Client’s credit status and the ability to repay the loan. The exercise of this power shall be at the sole discretion of All Business Barter with regard to principal, interest, collateral terms, and other particulars. Interest will be charged monthly to all clients whose accounts are in a deficit position as this is considered a loan. The interest charge will be based upon the deficit balance as of the end of each month.
The client may cancel this agreement with 30 days written notice. Upon cancellation all barter dollars must be spent within 90 days on products and services available through the All Business Barter. All transaction fees of the balance remaining in the client’s account are due before any additional transactions will be approved. Any Member with a negative barter balance (where purchases exceed sales) must balance its account with All Business Barter Dollars within four (4) weeks of termination date. After said four (4) week period, Member must immediately pay All Business Barter any remaining negative balance in cash. All Business Barter reserves the right to charge any fees due against credit cards or EFT authorizations on file.
All Business Barter shall not be responsible for any and all disputes between buyer and seller. Said disputes shall be settled by the parties themselves. Barter transactions are entered into on a voluntary basis by buyer and seller. All Business Barter shall not be responsible for the service quality, delivery, warranty, or dispute between buyer and seller. The client hereby indemnifies All Business Barter and shall hold All Business Barter harmless with respect to any claim, debt, or liability whatsoever, arising out of any trade or transaction wherein client is a buyer or seller.
All clients agree not to use proprietary information, clients or systems concerning or related to All Business Barter. All clients further agree not to use proprietary information, clients or systems as a separate or independent company or partner with any other companies with the purpose of doing business in the barter and trade industry.
An authorization must be obtained from All Business Barter for each purchase. To receive credit for a transaction, Seller must:
1. Obtain an authorization number either by logging in to the website or calling All Business Barter for each transaction at the time of purchase.
2. Obtain an authorization / process the sale within 30 days of transaction.
Transaction reversals must occur within 30 days of sale. Buyer and seller will forfeit any transaction fees for reversals processed beyond 30 days.
If, after one year, an account has not had any activity (buy or sell), and the account remains with a zero balance, All Business Barter shall have the right to close that account. Client acknowledges that, from time to time, Client firms will cease doing business, abandon or otherwise exit the All Business Barter network leaving a debit or credit balance in their barter account. Further, All Business Barter maintains an account termed “Reserve” wherein the debit or credit balances are charged or credited. If All Business Barter loses contact with an account due to a disconnected telephone and/or continued returned mail, and the Client has not attempted to notify All Business Barter of this change of status, All Business Barter will close the account after 60 days and credit any barter dollars to All Business Barter’s Reserve account.
Memberships may not be transferred or sold without All Business Barter approval.
Client’s monthly statement will be considered accurate as printed unless the All Business Barter accounting department is notified of any discrepancy within 10 days of receipt.
All Business Barter may place a Client’s account on hold and/or cancel this agreement if one or more of the following situations exist:
1. All Business Barter has received 2 written complaints on a given Client for either proof of poor performance or attempting to charge in excess of Client’s retail prices.
2. Client has committed fraud, either on other Clients or against All Business Barter.
3. Client is not following his/her contractual agreement with All Business Barter.
4. Client has exhibited unprofessional behavior in dealing with All Business Barter staff or in the conduct of bartering with other All Business Barter Clients.
Cash fees: Any Client checks returned to All Business Barter for insufficient funds, or any other financial deficiency, will be assessed a $25 cash fee. All fees are due and payable within 10 days of the date on the monthly statement. All Business Barter will charge a cash late fee on any cash balance outstanding. Accounts 30 days in arrears will be placed on Buy Hold until balance is paid.
Client recognizes and grants to All Business Barter, and those having an ownership interested in All Business Barter, the right and power to borrow from the All Business Barter and spend within the All Business Barter system, an amount which shall not exceed one (1) year’s gross receipts by All Business Barter.
Client has read these Policies and Procedures, which are binding upon the Client fully as the conditions and provisions of 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.
In the event any dispute is referred to an attorney with or without suit, the prevailing party shall be reimbursed for attorney fees and reasonable collection costs. Any court action shall take place in the County of record for All Business Barter.
All Business Barter may, at its option, request advance payment of Client Transaction fees. Outstanding fees and fees on the barter balance are due in advance of any spend out. Transaction and monthly fees are processed every Friday. Any account accruing fees over $100 cash on any one transaction will be charged those transaction fees immediately.
All Business Barter is a third-party record keeper reporting all sales to the Internal Revenue Service. All Business Barter provides all clients with a 1099B at the end of each calendar year.
All Business Barter 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 barter transaction. Member agrees to indemnify and hold All Business Barter harmless with respect to any claim, debt, or liability whatsoever, arising out of any transaction wherein the Member is a Buyer or Seller. Member acknowledges that any transaction facilitated by the All Business Barter network, in which Member participates is entered into by Member on a voluntary basis. Member agrees to waive any claim, debt, or liability whatsoever against All Business Barter arising out of any computer or software malfunction or processing errors.