Terms & Conditions
1. Clients will sell goods and services at their current or prevailing retail prices for trade credit to other clients in good standing with Premier Barter (PB). Trade Dollars must be accepted for the total value (100%) of a transaction up to two thousand dollars ($2,000) unless prior arrangements have been made with PB. 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.
2. Members of Premier 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 exchange.
3. Barter dollars shall not be considered as legal tender, securities or commodities, by either Premier Barter or its clients, and may not be redeemed for cash.
4. 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. Premier Barter shall not be responsible for the failure to collect tax or gratuities.
5. Buyers must identify themselves to the seller as an exchange member PRIOR to making purchase arrangements. Trade between clients without the knowledge or approval of Premier Barter is prohibited, and if consummated, is subject to a cash transaction fee from both the buyer and the seller at the current PB rates. Continued violation of this policy will result in expulsion from the exchange.
6. 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 Premier Barter. Client grants to Premier 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 Premier Barter with regard to principal, interest, collateral terms, and other particulars. Interest will be charged monthly based on 18% per year 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.
7. 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 exchange. 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 Premier Barter Dollars within four (4) weeks of termination date. After said four (4) week period, Member must immediately pay Premier Barter any remaining negative balance in cash. Premier Barter reserves the right to charge any fees due against credit cards or EFT authorizations on file.
8. Premier 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. Premier Barter shall not be responsible for the service quality, delivery, warranty, or dispute between buyer and seller. The client hereby indemnifies Premier Barter and shall hold Premier 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.
9. All clients agree not to use proprietary information, clients or systems concerning or related to Premier Barter. All clients further agree not to compete with or 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.
10. Any member of Premier Barter soliciting any other member of PB to another barter or trade exchange group will be immediately terminated from the exchange.
11. An authorization must be obtained from Premier Barter for each purchase. To receive credit for a transaction, Seller must:
a. Obtain an authorization number either by logging in to the website (www.premierbarter.com), or calling Premier Barter for each transaction.
b. Obtain an authorization / process the sale within 30 days of transaction.
12. Transaction reversals must occur within 30 days of sale. Buyer and seller will forfeit any transaction fees for reversals processed beyond 30 days.
13. If, after one year, an account has not had any activity (buy or sell), and the account remains with a zero balance, Premier 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 Premier Barter network leaving a debit or credit balance in their barter account. Further, Premier Barter maintains an account termed "Reconcile," wherein the debit or credit balances are charged or credited. If Premier Barter loses contact with an account due to a disconnected telephone and/or continued returned mail, and the Client has not attempted to notify Premier Barter of this change of status, Premier Barter will close the account after 60 days and credit any barter dollars to Premier Barter's Reconcile account.
14. Memberships may not be transferred or sold without Premier Barter approval.
15. The Premier Barter return policy on PB merchandise purchases is 30 days from date of purchase, in original packaging and unused or damaged by Client. This does not apply to travel accommodations, gift certificates, or scrip as they are all non-refundable.
16. Client's monthly statement will be considered accurate as printed unless the Premier Barter accounting department is notified of any discrepancy within 30 days of receipt.
17. Premier Barter may place a Client's account on hold and/or cancel this agreement if one or more of the following situations exist:
a. Premier 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.
b. Client has committed fraud, either on other Clients or against Premier Barter.
c. Client is not following his/her contractual agreement with Premier Barter.
d. Client has exhibited unprofessional behavior in dealing with Premier Barter staff or in the conduct of bartering with other Premier Barter Clients.
18. Cash fees: Any Client checks returned to Premier Barter for insufficient funds, or any other financial deficiency, will be assessed a $25 cash fee. All fees are due and payable at the time of transaction. PB will charge a cash fee of 1.5% OR $10 per month (whichever is greater) on any cash balance outstanding after 20 days. Accounts 10 days in arrears will be placed on Buy Hold. Clients who do not keep a valid form of payment on file shall have their cash fees raised by 2.5% per transaction.
19. Client recognizes and grants to Premier Barter, and those having an ownership interested in Premier Barter, the right and power to borrow from the exchange and spend within the exchange system, an amount which shall not exceed one (1) year's gross receipts by Premier Barter.
20. 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.
21. 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 Maricopa County, state of Arizona.
22. Premier 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.
23. PB is a third-party record keeper reporting all sales to the Internal Revenue Service. PB provides all active clients with a 1099B at the end of each calendar year.
