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I/We, the applicant(s) whose name(s) appear(s) on this Agreement, hereinafter referred to as “member” hereby apply for membership with Anbell Trade Exchange Ltd; hereinafter referred to as “ATX”. Member agrees that, in return for the privilege of trading goods and services with other ATX members, that member will abide by the General Trading Policies and Procedures of ATX: which are incorporated herein by reference, as if fully rewritten, and by the ATX Rules and Regulations as are outlined below and/or may be adopted by ATX in the future.



UPON ACCEPTANCE IN ANBELL TRADE EXCHANGE LTD. (ATX) MEMBER AGREES:

1. ATX acts as a clearing house and third party record keeper. ATX is responsible for organizing and facilitating trade. Trade transactions are entered into on a voluntary basis between members. Although ATX may give referrals as a service to its members, ATX has no responsibility and assumes no liability for delivery, warranties, quality, quantity, compensatory or consequential damages, which may result from a trade transaction. The duty to inspect goods and services rests with the buyer.

 

2. Neither ATX nor its member will consider ATX trade dollars as legal tender, securities or commodities. The term trade dollar means an accounting unit used to record the value of trade between members of the exchange. Trade dollars are taxable and members are solely responsible for declaring, reporting and paying all applicable taxes resulting from barter transactions. (Members simply account for barter dollars as they would their cash income and expenses. Barter business expenses are treated in the same manner as any other "cash" business expense. ATX makes no representations to the member regarding the legal or tax consequences of any transaction. Clients should seek professional tax advice.)

3. To submit with this application a nonrefundable one time membership fee of J$35,000 ($17,500.00 for Charter Members). Member agrees to pay a 5% cash transaction fee and a 1% fee in barter currency on each transaction. The fee will be charged on the full amount of the transaction. An annual membership renewal of $15,000.00 is payable annually thereafter. All fees are subject to GCT.

4. All transactions between members are on a full trade basis or else otherwise provided by ATX in advance. Part cash transactions are not permissible without the consent of ATX.

5. ATX is obligated to honour only those transactions for goods and/ or services which are available through the members of the Exchange. That ATX marketplace may not be able to fulfill purchase requests at all times.


6. Member agrees to settle all debt with ATX within TEN (10) days of receipt of ATX monthly statement. Failure to settle debts within ten (10) days shall put members in a delinquent status. A delinquent status results in a member being put on hold – not being able to buy or sell within ATX. 3% per month compounded interest fee will be charged on delinquent accounts. ATX reserves the right to terminate delinquent members. Member agrees to bear all collection and legal costs, should collection procedures become necessary.

7. In order for a member to terminate membership to ATX or cease trading for any period of time, member MUST provide ATX with a thirty (30) day written noticeIf an ATX member stops trading at anytime without giving the written notice, the member shall be in breach of this agreement and legal remedies may apply.

8. Upon termination, members must settle all cash fees and trade dollars due within 30 days of termination. If the member’s account is delinquent, member may not terminate until account is paid in full.

9. ATX may place an account on HOLD or TERMINATE membership if:

a. Member has committed fraud, either toward other

    members or ATX.

    b. Member is charging cash and/or not following the

       terms of the contractual agreement with ATX.

    c. Member is past due with their outstanding cash

       fees.

    d. Member is found bypassing the exchange and

       conducting barter transactions with members.

    e. Member is selling goods or services to members in

       excess of their list price/rack rate.

 

Conditions of Contract are Subject to Change