Trade Rules

Effective 1 January 2008

1. GENERAL

Caribbean Barter is an association of businesses and professionals who have joined together to do business among themselves through the organized system which is regulated by the record-keeping and administrative services of Caribbean Barter, Inc.(CBI) and through the medium of Caribbean Barter(CB) trade dollars.  CBI functions as a clearinghouse for the transactions of the exchange membership.

2.  SALES AND PURCHASE  PROCEDURES

a)       All sales and purchases must be 100% CB trade dollars unless seller’s account balance exceeds $5,000 and the member previously requested CBI that he/she be placed “on standby”.

b)       Buyer must always identify himself as a CBI member before making a purchase.  This rule is to avoid disputes over bargaining for best cash price then attempting to pay that sale price in trade. The “golden rule” is appropriate in CBI transactions.  Treat others as you would have them treat you.

c)       Member should make their sales and purchases with the same diligence they use for cash transactions. If the seller requires a 50% deposit for cash transactions, the same should apply to CBI transactions.

d)       Seller must sell at regular retail or advertised prices. Excessive charging is a violation of trade rules and therefore CBI membership.

e)       Taxes are received in trade and paid to the appropriate government agency in cash. However, if you pay an equal amount of taxes in trade as you receive, the overall result is no extra cost. Gratuities must be paid in cash.

3.  ACCOUNTING PROCEDURES

a)          All individual users of CBI barter cards or transaction slips and the company in whose name the card was issued assume joint responsibility and agree to pay to CBI for all fees and trade dollars owed.

b)          Direct trades between members without the use of CBI trade dollars are prohibited.

c)          CBI has the authority to charge member’s account for purchases made from CBI, reciprocal trade companies and members of CBI exchange.

4.  PROBLEM TRANSACTIONS

a)         Member accepts that CBI is a third party record-keeper and administrator of the exchange. Therefore, not responsible for products, services and any other sale or purchase problems between members.

b)         CBI is not responsible for collection of trade dollars for sales of members.

c)   CBI has the right to reject any transaction that does not conform to required procedures.

5.   FEES

Member accepts that CBI charges service fees in accordance with rates in the membership contract or as may be set periodically in writing and delivered to the member.  CBI may lend trade dollars to its’ members and charge trade dollar fees in accordance with credit application rules and fees.

6.   CANCELLATION

a)       Member or CBI may issue written notice of intent to cancel account at any time.  All cash fees and dues billed, plus credit owed become immediately due and payable in cash.

b)       Accounts 60 days past due may be closed by CBI at which time trade dollars owed become immediately payable in cash.