National Trade Banc New Account AGREEMENT

    
A. CONTRACT AND MODIFICATION OF CONTRACT
     •     The following terms and conditions constitute the contract by and among the Account Holder("Account Holder", "You") and National Trade Banc. Any use of National Trade Banc ("NTB") to facilitate a transaction by Account Holder constitutes acceptance of all terms, conditions, policies and procedures (collectively, "Items") as most recently adopted by NTB. These Items apply to all NTB Account Holders and to all transactions facilitated by NTB. At its sole discretion, NTB may amend this agreement by giving Account Holder thirty (30) days written notice via e-mail or by publication on this public website.  Any purchase or sale by Account Holder which makes use of NTB after these time frames, constitutes acceptance by Account Holder of such change(s) and the agreement of Account Holder to abide by said change(s).
 
B. PARTICIPATION IN THE EXCHANGE
     1.     NATURE OF THE PARTIES
     •     A. NTB is an association of businesses and professionals who have joined together to do business among themselves through the organized system ("Network") which is regulated by the record-keeping and administrative and financial services of NTB or its designee and through the medium of NTB Trade Dollars. NTB functions as a clearinghouse for the transactions of the Network membership.
     •     B. NTB regulates the Network, acts as a third party record-keeper, and administers the clearinghouse function of the Network for the Account Holders.
     •     C. Account Holder must be a bona fide and legal business that desires to do business with other members of the Network and hereby subscribes to NTB services. Account Holder   warrants that it is in compliance with all state, federal, local, industry and professional laws and regulations.
     •     D. NTB reserves the right of final approval of this Agreement and may refuse to accept anyone as a Account Holder for any reason.
     •     E. The signer of this Agreement ("Signer") hereby acknowledges that Signer is 18 years of age or older.
     2.     DISCLAIMER OF WARRANTY AND LIABILITY
     •     NTB makes no representation or warranty, either express or implied, and disclaims all liability, as to the fitness, quality, delivery date, prices or any term of any trade transaction. Member agrees to indemnify and hold NTB harmless with respect to any claim, debt, or liability whatsoever, arising out of any transaction wherein Account Holder is a Buyer or Seller. Account Holder acknowledges that any transaction facilitated by the Network, in which Account Holder participates is entered into by Account Holder on a voluntary basis. Account Holder agrees to waive any claim, debt, or liability whatsoever against NTB because of any computer or software malfunction or processing errors.
     3.     TAXES
     •     Account Holder (as Seller in transactions) shall be solely responsible to collect and remit to the appropriate taxing authorities the applicable taxes and shall collect and record said taxes as required by law. Under no circumstances is NTB responsible to pay any taxes on behalf of any Account Holder. Transactions involving NTB Trade Dollars are generally treated as taxable events for federal, state or provincial, and local tax purposes and, further, NTB reports transactions involving Trade Dollars ("Trade Transactions") to the appropriate government taxing authority. The declaration and reporting of applicable taxes resulting from Trade Transactions rests solely with Account Holder. Account Holder agrees to indemnify and hold NTB harmless for any actions NTB takes to comply with federal, state or provincial, and local laws.
 
C. ADMINISTRATION OF THE EXCHANGE AND NTB TRADE DOLLARS
     1.     NATURE OF NTB Trade Dollars
     •     Account Holders conduct transactions (purchases or sales of goods or services) using the NTB online system. Payments are made by posting debits and credits to the respective accounts of the buying and selling Account Holders, pursuant to these Rules and in the form of NTB Trade Dollars.
     •     NTB Trade Dollars are a legal, private currency which operates as contractually accepted tender for specified private debts only, between Account Holders, backed only by the goods and services available within the Network, and regulated by NTB. Trade Dollars earned are Taxable at a rate of 1 to 1 with the U.S.Dollar and when donated to a 501c3 organization are tax deductible at a rate of 1 to 1 with the U.S. Dollar. The tax rate and donation rate have been set by the U.S. Congress in the Tax Reform Acts of 1982, 1985 and 1987. Said Trade Dollars denote value received for goods or services sold, and may be exchanged for other goods or services made available by NTB Account Holders. Trade Dollars may be used only in the manner and for the purposes set forth in this Agreement and in the Policies & Procedures. Neither NTB nor Account Holder shall consider NTB Trade Dollars as public legal tender, securities, or commodities. NTB disclaims any and all responsibility for the acceptance or negotiability of NTB Trade Dollars or for the availability of goods or services from any source. NTB restricts the transfer of any Account Holders balance of more than T$10,000 from their current exchanges to NTB. NTB encourages Account Holders to utilize the benefits of belonging to multiple barter/trade exchanges and WILL NOT TRANSFER any Account Holders account balance to NTB unless Account Holder has closed their account with that exchange.. Other exchanges  that are  on the TradeAlliance.com software platform and select other trade exchanges  that  NTB has a reciprocating relationship with Account Holder may buy or sell without incurring any transaction fees by NTB.     •     All Members agree that the first $2,000 of any transaction shall be 100% in NTB Trade Dollars and any amounts over $2,000 may be trade or a cash/trade blend.
     •     All Members agree that any exception to said Minimum is a one time privilege granted to the Account Holder by NTB on a case by case basis, and any transactions conducted under such an exception MUST be at least 50% trade.
     2.     LIABILITY FOR NTB Trade Dollars
     •     Account Holder acknowledges that NTB Trade Dollars in the Network (positive balances) are the liabilities of persons who have spent more than their earnings (negative balances); that there is a creditor/debtor relationship between such persons, and that NTB transactions incur the normal business risks associated with any credit transaction. Any negative trade balances are solely the liability of Account Holders who owe NTB Trade Dollars to the Exchange and are not the liability of NTB.
     •     a. Account Holder acknowledges and grants to NTB the right and power to regulate and control the number of NTB Trade Dollars within the Network.
     •     b. Account Holder grants to NTB the right and power to borrow from the Network.
     •     c. Account Holder is never authorized to sell NTB Trade Dollars for cash dollars.

D. SUSPENSION OR TERMINATION
     1.     If Account Holder violates this Agreement or the currently effective Policies and Procedures, NTB may at its discretion immediately terminate Account Holder's account or may freeze all activity in said account without notice and/or make immediate adjustment to the transactions involved. At its sole discretion, NTB may reinstate Account Holder or unfreeze Account Holder's account.
     2.     Either party may terminate this Agreement upon thirty (30) days written notice to the other party.

Upon termination:
     •     A. All cash and NTB Trade Dollar service fees outstanding become due and payable. No service fees will be refunded.
     •     B. Any Account Holder with a negative account balance (where purchases exceed sales) must balance their account with NTB Trade Dollars within thirty days of termination date. After said thirty day period, Account Holder must immediately pay to NTB any remaining negative balance in cash.
     •     C. Any Account Holder with a positive balance (where sales exceed purchases) must spend out their account within ninety days of termination. For administrative purposes these accounts will be considered "Spend Out Accounts" and will incur fees as shown below.  Any trade dollars remaining after ninety days will become the sole property of NTB.
E. FEES 

          There are no hidden costs. 
     1.     Funds for the cash fees must be available at the time of the transaction or it will not be processed. You must do this by having NTB automatically charge your credit/debit card that you have on file with us. Fees paid to NTB are non-refundable.     2.     Transaction fees payable are due at time of purchase and fees due for more than 30 days will be assessed a late fee of $25.00 per month, or 1.50% of the unpaid balance, whichever is more.
     3.    Account Holders who join NTB will be charged the following:
  
     •     Cash Service fees:
     •     Regular accounts: $ 29.95 monthly.
  Annual Membership fee of $100.00 Due and payable on June 1st each year.   
     •     By acceptance of this Agreement, Account Holder agrees personally and corporately to guarantee payment of all cash fees and is responsible for all negative barter dollars, if any, that shall be payable in cash.

     6.     WARRANTY OF INFORMATION
     •     Member warrants that it provides all information to NTB in good faith and that such information is accurate to the best of Member’s knowledge.
     7.     FAX & E-MAIL SIGNATURES
     •     NTB will, and Member agrees, that NTB may accept a faxed or e-mailed signature as an original, legal signature and/or, that by logging in to the secure, members only area of this website (www.nationaltradebanc.com) , such action  legally acknowledges and accepts by you,all of the rules and regulations herewith set forth including granting of the right to NTB to automatically process and charge the credit/debit card  that Member has on file with NTB for all cash fees due to NTB from said Member. This right shall renew automatically every June St unless revoked in writing by said Member.
     8.     ENTIRE AGREEMENT
     •     Member acknowledges that it is not relying on any oral representations concerning this Agreement and that the complete agreement between the parties is contained in the Member Application, this Agreement and the Policies & Procedures.
     9.     NO WAIVER OF RIGHT
     •     NTB's failure or delay in exercising any right, will not operate as a waiver of that right, nor shall the partial exercise of a right preclude any other or further exercise of any right. NTB remedies are cumulative and are not exclusive of any remedies provided by law.
     10.     INDEMNIFICATION
     •     MEMBER AGREES TO HOLD HARMLESS NTB, ITS OFFICERS, AGENTS, REPRESENTATIVES, ASSOCIATES AND ASSIGNS FROM ANY LOSSES, LIABILITY OR DAMAGES WHICH MAY RESULT FROM MEMBERS’ PARTICIPATION IN ANY OF NTB's TRANSACTIONS, ACTIVITIES, PROGRAMS, PROMOTIONS, OR ADVERTISING, INCLUDING THE COSTS OF LITIGATION AND ATTORNEYS FEES.
     11.     JUDGMENT SETTLEMENT
     •     In the event of a dispute between NTB and Member resulting in a judgment entered on behalf of the Member against NTB, Member agrees that NTB shall have the right to satisfy said judgment in NTB Trade Dollars.
 
G. APPLICABLE LAW
     1.     This agreement shall in all respects be construed under the laws of the State of Colorado.
     2.     Venue shall be Denver County, Colorado USA.