Rules & Procedures of Trade Local

1. A member will sell a good and/or service for 100% credit, or a ratio of cash to trade credit agreed to in advance by Trade Local. A member will sell a good or service at prevailing retail price to the other members in good standing. The trade-selling price will be the same as the cash-selling price unless approved in advance by Trade Local. Members agree to process all transactions online at www.tradelocal.biz. Direct trading with other members without using association billing mechanism is prohibited. 

2. Trade Local retains the right to inquire into all allegations concerning sales to members at prices higher than the sellers current prevailing level for cash customers as well as demands for part payment in cash not authorized by prior written approval of Trade Local. Excessive charging is a violation of these rules and procedures. The association reserves the right to fine and/or cancel membership of a member found guilty of this practice. First proven offense will incure a $500 Trade fine. Second offense will result in cancelation of membership and forfeture of all accumulated trade credit by offending member.  

3. Trade Local transactions between clients are entered into on a voluntary basis. Trade Local is not responsible for verbal commitments or responsible if a member cannot find satisfactory products and services to buy from other members. Although Trade Local may give referrals and act in our brokerage function and record trades, any disputes are only between the buyer and the seller and shall be settled by them. Members may request funds to be held in escrow by Trade Local in writing within 60 days of the transaction. It is the complainant's responsibility to notify Trade Local of any settlements or pending litigation. If Trade Local receives no notice within 90 days of the complaint, the disputed funds will be returned to the complaintee.
   We make no representation of warranty either express or implied, and disclaim all liability as to the fitness, quality, delivery date, merchantability, prices or any term of any trade transaction. You do hereby indemnify and hold us harmless with respect to any claim, debt, damages, cost or liability whatsoever, arising out of any transaction where you are a buyer or seller.  
   

4. Member acknowledges that they are a bona fide and legal business that desires to do business with other members of the network and hereby subscribes to Trade Local barter services. Member warrants that it is in compliance with all State, Federal, industry and professional laws and regulations. Trade Local reserves the right of final approval of this agreement and may refuse to accept anyone as a Member for any reason it deems necessary.The signer of this agreement hereby acknowledges that they are over 18 years of age.  

5. It is the seller's responsibility for acquiring proper identification and trade number and business name from buyer. The seller has sole responsibility to prove that a transaction took place. If the seller cannot provide the necessary documentation to Trade Local, it will be the responsibility of the seller to collect from the buyer. All tips, sales tax, gratuities and shipping costs are to be paid by the buyer in cash at the time of purchase. Statements are considered correct if the association is not notified in writing within 30 days of the date of the statement.  

6. Trade credits shall not be considered as legal tender or as a security by either Trade Local or its members. Trade credits may not be converted into cash, except as provided in these trading rules and procedures.  

7. Trade Local membership cards, checks or other purchasing instruments issued to members shall remain the property of Trade Local and must be returned upon request of the Trade Local. Memberships and membership cards cannot be transferred or sold. Trade Local may request a selling member to ask a purchasing member to surrender his membership card. The selling member must forward the card to Trade Local within three business days. If the purchasing member refuses to surrender his card, Trade Local is to be immediately notified. No sales are to be transacted without presenting a valid, unexpired membership card. The seller assumes all risk if business is transacted without a valid membership card. The cardholder understands, acknowledges and agrees that use of the membership card consummates a transaction of purchase with a selling member.  

8. Trade Local  reserves the right to modify its terms, rules, procedures and conditions of accepting new members at any time. Trade Local  may assign this agreement at any time without notice. Trade Local shall, from time to time, publish bulletins or directories containing modifications or additions to these rules and procedures, which members agree to abide by. The parties understand and acknowledge that neither party hereto is the partner, joint venturer or agent of the other, and that each enters into this agreement as independent contractors.
   Trade Local operates solely as a service organization for the convenience of the members. All members must be treated by other members with the same courtesy and full service as extended to cash customers.  

9. Trade Local reserves the right to cancel, suspend or terminate a members' trading privileges. If a member has credit in his account at the time of termination, the member agrees to spend such credits for goods and services offered by other members within 90 days. Gift certificates may be issued after a 60-day period of inactivity. Any trade credits not spent in the 90-day period will be forfeited.
   If a member is indebted to Trade Local  at the time of termination, the member agrees to pay such amount in cash to Trade Local at the time of termination. Cash payment is required for all fees plus the amount of purchases exceeding sales (i.e. fees plus debit balance) whenever membership is canceled, authorized credit limit is exceeded or member refuses to sell at the agreed percentage. A member may cancel membership by providing Trade Local with 30 days written notice and by fulfilling the rules and procedures applicable to termination provided for in these rules.  

10. The member understands, acknowledges and agrees that use of theTrade Local membership card to consummate a transaction of purchase with the selling member is the equivalent of writing a check, and accordingly unauthorized or overextended use of the card will subject the user to the same responsibility under the law as a person writing checks with insufficient funds. A cardholder agrees to never, at any time, transact a purchase unless there is sufficient credit in the member's account to cover the transaction. Possession of a valid card does not imply the cardholder has been granted a line of credit. A cardholder understands and acknowledges that the card is not a credit, but rather a device through which Trade Local acts as a clearinghouse and third party record-keeper. Neither Trade Local,  nor a selling member may extend any credit, arrange for an extension of any credit, or make any loans to the cardholder by virtue of the cardholder's use of the membership card. A line of credit can be established by prior written agreement with an authorized representative of Trade Local. Trade Local has the right to make whatever credit investigations we may deem appropriate.  

11. Any card that is lost or stolen should be reported to Trade Local. A cardholder shall not be liable for any charges incurred by the use after the association's receipt of such notice. Otherwise, a cardholder will be responsible and liable to the selling member and association for the total amount of the purchase price of all merchandise and/or services through the use of the card whether authorized or not, including all fees payable to the association. If a member orders additional cards, he is responsible for them and authorizes such users as he names to draw against the entire account. All such users have the same rights and obligations of the member with respect to usage of their card, as if they signed the membership application agreement. The member agrees to indemnify Trade Local and hold Trade Local free and harmless from any liability or loss suffered by reason of such user's use of the member's card. A member is responsible for the use of the card, both corporately and personally.  

12. If a member is in a debit position and he refuses to accept trade credit from another member in good standing, then all amounts due and owing to Trade Local , be it cash or trade credit, will become immediately due and payable in cash. Trade Local will have the right to enforce collection through the appropriate judicial proceeding, and the member will bear the expense thereof, including the attorney's fees. In the event that legal action must be taken by Trade Local against a member to enforce any provision of these rules and procedures, Trade Local will be entitled to recover cash simple interest at the rate of 10% per year from the day of default until payment. A breach of these rules by a member may, in addition to all of the other rights, do one or more of the following:
    1. Charge a member $250 for each violation.
    2. Cancel or suspend privileges of membership and/or demand payment in full of all debit balances in cash.
    3. Notify other members they are no longer to trade through Trade Local with the defaulting member.
    4.  Require that all or a portion of fees be paid in advance.
13. Trade Local reserves the right and sole discretion to suspend the trading privileges of any member with outstanding cash fees that are more than 60 days past due. The trading privileges of suspended accounts shall be reinstated upon payment of all past due fees. Trade Local shall have the right, at its sole discretion, to settle past due cash fees by charging a 400% penalty in trade dollars on the total cash owed. The member so penalized may reverse this transaction by making the cash payment within 30 days of such penalty. Furthermore, if such cash fees remain delinquent beyond 120 days, Trade Local has the right to terminate that member's account, as provided for in these rules, and all trade credits will be forfeited.  

14. Members acknowledge and grant to Trade Local the right and power to regulate and control the number of trade credits within Trade Local.  All members recognize and grant to Trade Local, its shareholders and officers the right and power to borrow from the association.  Members are NOT authorized to sell Trade Local trade dollars for cash.  

15. In the event Trade Local terminates or ceases to exist or function, all members in a debit position with respect to their association account will pay the amount they owe in cash, not trade credits, one trade dollar being equal and equivalent to one dollar in cash, United States currency into a fund. The fund, less expenses, will be distributed prorate to all members who are in a credit position with respect to their association account. Thus, all members in a credit position will receive cash for their trade credits to the extent the fund permits. Trade Local shall not be liable to any member in Trade Local beyond the distribution of such funds as aforesaid.  

16. If a member chooses to make a purchase in excess of his sales, the member goes into a debit position. A monthly charge could be made on such debit to be used on behalf of all members to offset any expenses and bad debt incurred by Trade Local.  

17. Attention all members: Trade Local is required by law to have on file your correct Tax ID number or Social Security number on file in order to properly supply your 1099b form at the end of the year. Trade Local will be fined by the IRS if this information is either not supplied or is inaccurate. Please check under your Settings to insure that your social security number and or tax id number are both listed and accurate. If they are not please update. If this information is not complete and up to date, and Trade Local is fined by they IRS you will be responsible for the paying in Cash the amount of the fine or fines. Please help us comply. 

    thank you, Bobby

17. Each and every term or provision contained in the agreement is severable from every other term or provision herein. If any provision or term in this agreement shall be invalid, illegal or unenforceable, it shall not affect the validity, legality or enforceability or the remainder or any other provision or term in this agreement, which shall remain valid, legal and forcible in full force and effect.  

18. Trade Local retains the right to make credits available to members only if cash fees are current, and also retains the right to apply a late charge to delinquent cash fees.  

19. This agreement is the entire agreement between the parties and no representations are binding unless reduced to writing. This contract is originated in Flint, Michigan. Any legal actions arising out of member participation with Trade Local will be in the jurisdiction of Flint.