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Why They Barter

Bartering has helped the business conserve cash, owner Nick Porriello said. Sales have taken a hit this year. ''My supermarkets are promoting the chee...
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Eleanors Green Mountain Cheese

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Trade Rules & Terms

  1. Seller will offer products and/or services for sale at fair market value.
  2. Any purchase shall be approved by BBU prior to purchase and have an authorization number. Otherwise, failure to obtain pre-approval may result in the sale not being approved by BBU and is at the seller's risk.
  3. BBU may refuse to issue authorizations number for any of the following reasons
    1. If buyer does not have sufficient barter units or extensions thereof to purchase or is otherwise not in good standing.
    2. If buyer has any outstanding cash service charges over 30 days past due.
    3. If the transaction is disputed by either party and written notice has been received by BBU.
    4. If either party fails to conform to these rules. Members attempting to circumvent these rules while trading may have their memberships terminated.
  4. Seller shall furnish goods and services at regular, prevailing prices, plus applicable taxes, for 100% barter through BBU unless preauthorized by BBU.
  5. Purchases are limited to member's accrued barter units plus extensions thereof unless secured by collateral and approved by BBU.
  6. Members may authorize BBU to collect initial fees, cash services charges due, and renewal dues through member's VISA, MasterCard, American Express, Discover Card, pay Pal or by bank transfer, via wire or electronic money transfer.
  7. Members may request their account to be placed in "standby" status, EXCEPT when account is in deficit (negative) position.
  8. Units shall not be considered legal tender, securities or commodities nor converted to cash.Members should consult their own tax advisors for appropriate tax treatment.
  9. BBU is a third party record keeper acting as a clearinghouse which debits or credits barter units generated between members. It is not an issuer of credit except as specified in these rules. BBU is not responsible for the quality, timely delivery, warranties or any other problems, which arise with respect to goods and services, traded by members. BBU is not responsible if a member cannot find specific products or services to buy from other members. Members should exercise the same diligence in entering into trade transaction as ordinary business transactions for cash.
  10. Declaration and reporting of all applicable taxes resulting from trade transactions rests solely with member.
  11. Members must report to BBU any discrepancies in monthly statements within 20 days of receipt; otherwise the statement will be deemed correct.
  12. If a member fails to pay service fees or any other charges to BBU within 30 days of billing, BBU may charge the member interest on outstanding balance at a periodic rate of interest as may be noticed to member from time to time and suspend member's trading privileges until the charges are paid. Should the charges remain outstanding beyond 60 days of billing, BBU may terminate the delinquent member's account.
  13. BBU may terminate a member's account for any violation of BBU rules, as amended, by written notice to member by certified mail. In the event of termination, BBU may, in addition to such other rights as it may have, do any or all of the following:
    1. Suspend trading privileges if there is a positive trade balance in members account until such time as any cash service charges are paid in full. Thereafter, all barter units due member must be spent for goods and services within 90 days.
    2. Suspend trading privileges if there is a deficit credit balance and demand member pay the balance full within 30 days, either in goods or services acceptable to BBU or in cash.
    3. BBU may demand the return of BBU trade card, which remains BBU property, and notify other members of termination of member's account.
    4. BBU may cancel this agreement at any time after 10 days written notice. Upon cancellation, all barter units due member must be spent on goods and services available through BBU within 90 days. Outstanding balances due BBU shall be paid within 30 days, either in goods or services acceptable to BBU or in cash.
  14. Should a member fail to honor and accept purchases from another member, member shall be in material breach of these rules. Member acknowledges if this occurs, BBU's business relationship with member whose card was not honored will be damaged. In such event, BBU may terminate such membership.
  15. Accounts shall not be transferred or sold without BBU's written permission.
  16. BBU may amend these rules, change dues and cash charges, should the amendment be for the benefit of the exchange. BBU shall give 10 days prior notice of substantive amendment. A member shall have the right to resign its membership if it objects to the amendment adopted by BBU. No cancellation shall be deemed acceptance of the change.
  17. BBU may permit members to trade in excess of barter units in member's accounts.
  18. I Authorize BBU to send email and fax special promotions to the addresses and fax numbers provided.
  19. The seller will maintain and provide contracts, signed invoices and Documentation in the event the purchaser disputes the transaction. A seller that fails to do so may place the transaction at risk. In a dispute, without documentation BBU maybe forced to return the Credit(s) to the buyer.