Rules & Regulations
Who is responsible for the quality of the products and services that I purchase on barter?
BBE serves in a brokerage capacity by organizing and facilitating trades among Clients. Responsibility for the conduct of a trade is exclusively that of the two clients participating in the trade. THE DUTY TO INSPECT GOODS AND SERVICES FOR QUALITY AND QUANTITY RESTS UPON THE BUYING CLIENT. Trades are entered into on a voluntary basis between the Clients. BBE assumes no responsibility for the quality, timely delivery, warranty or service being traded. Clients should exercise the same diligence entering into trades as normal cash transactions. Client does hereby indemnify and hold BBE harmless with respect to any claim, debt, or liability whatsoever, arising out of any trade exchange transaction wherein client is a buyer or a seller.
Who is responsible for product and service warrantees?
The sole and exclusive warranty made by the Selling client is that it has title to such products free and clear from any lien or encumbrance. Other than set forth above, goods and services are sold "As Is, Where Is", with respect to any goods or services purchased by the Buying client through BBE. Buying client recognizes that such items are produced and provided by others and not by BBE or its affiliates. BBE makes no warranty either expressed or implied, by operation of law or otherwise and disclaims all liability as to the fitness, quality, delivery date, merchant ability, prices or any term of the trade transaction, and the Buying client shall look solely to the manufacturer, distributor or retailer of such merchandise for any warranty. Buying client acknowledges that any trade transaction in which it participates shall be on a voluntary basis.
How do I get a credit limit?
Clients grant to BBE the right and power to make barter dollar loans to any client on terms and conditions consistent with client's credit worthiness and ability to repay. BBE is under no obligation to extend credit at any time. Purchases by clients must be limited to the amount of barter dollars in the buying client's account. Clients will be required to compensate BBE in cash on demand for any deficit amount in their barter dollar account resulting from purchases made without sufficient barter dollar balances or without prior barter dollar loan arrangements. Clients wishing to apply for a barter dollar loan may submit an application by clicking here.
How do I benefit if I refer a new client to BBE?
A referral bonus of one hundred ($100.00) barter dollars will be given to each client who introduces and refers a new BBE client. To qualify for the referral bonus, clients must provide BBE with the following information about the potential client: company name, owner's name, location, and phone number. Referral bonus is paid to client when the new client's BBE Application and Agreement has been accepted and approved by a BBE officer. Refer a new client to BBE now!
What is a waiting list?
Due to high client demand and short supply, certain goods and services are available on a limited basis only. The BBE barter broker will place requests for these goods and services on a “Waiting List”.
How can I get placed on a waiting list?
Buying clients are responsible for contacting their barter broker if they wish to be placed on the waiting list. Clients with negative barter balances (purchases exceed sales) and/or past due cash fees will be removed from all waiting lists.
Can I give my barter dollars to another person?
Clients can purchase a pre-paid debit card to give barter dollars to people without giving them access to their barter account.
Can I sell my barter dollars?
Barter dollars may not be advertised for sale without BBE's express written consent. A client's account is not assignable or transferable without BBE's express prior written consent.
Does BBE have the right to advertise my company?
Unless otherwise stipulated in the BBE Client Application and Agreement, client authorizes BBE to notify and advertise to other clients and potential clients the availability of client’s good and/or services. Applicant authorizes BBE to send broadcast fax and email advertisements to their business.
What do I do if I think a client is overpricing?
The buying client is responsible for reporting all incidents of overpricing to the BBE office. The buying client should also submit a complaint form to the BBE office. Clients are required to sell their goods and services at their prevailing retail prices for 100% trade credit. Selling clients are not obligated to honor sale prices and may charge their prevailing retail prices. BBE reserves the right to inquire into complaints of overpricing. Violations may result in termination of client's account.
How do I process a complaint about another client?
Clients may wish to submit a "Complaint Form" to the BBE office. A copy of the “Complaint Form” will be kept in each client's file and a copy will be mailed to each client. BBE is functioning in a brokerage capacity and as a third party record keeper. Trade disputes are only between the buying client and the selling client and shall be settled by the parties themselves. BBE is to be held harmless on any liability question arising between clients.
What happens if a client has multiple complaints about their business?
If BBE receives more than two written complaints on a given client for either poor performance or attempting to charge in excess of client's normal retail prices, BBE reserves the right to terminate the client's account.
What happens if my cash fees are thirty (30) days past due?
BBE accounts will be deemed past due if not paid within thirty (30) days of date on statement. All fees and charges, including cash transaction fees, administrative fees, and other charges to clients by BBE are compensation for services rendered in processing client into the exchange system, operating the clearing house and brokerage functions, administering these Policies and Procedures, maintaining records, and facilitating client's use of the exchange system. Client agrees to pay BBE the full amount of such fees within fifteen (15) days of issuance of the monthly statement; otherwise BBE shall charge client a cash penalty on the outstanding cash balance at the rate of two (2%) percent per month on the unpaid balance, OR a ten ($10.00) dollar cash late charge, whichever charge is greater.
What happens if my cash fees are sixty (60) days past due?
If cash fees are sixty (60) days past due from issuance of statement, client grants BBE, at that time, the right to permanently suspend any loan agreements established between client and BBE. If cash fees are sixty (60) days past due from issuance of statement, client grants BBE, at that time, the right to permanently increase the twelve and one-half (12.5%) percent cash transaction fee on all purchases to a fifteen (15%) percent cash transaction fee on all future purchases.
What happens if my cash fees are ninety (90) days past due?
Any account continuing in a delinquent status for three (3) consecutive months may be closed without notice by BBE. Barter dollars in the account will be forfeited and placed by BBE in its general operating account unless outstanding fees are paid. At any time in the future, the client may reestablish the account and reclaim the barter dollars by: (1) Paying all cash fees owed on the outstanding balance, AND (2) Paying a processing fee of one hundred ($100.00) dollars cash.
What happens if I decide to do a direct trade with another client?
Direct trades between clients to avoid cash transaction fees are prohibited, and if consummated are subject to standard cash transaction fees payable upon demand. Such trades WILL RESULT IN THE TERMINATION OF TRADING PRIVILEGES FOR BOTH CLIENTS INVOLVED. BBE reserves the right to publicly announce such terminations to the existing clients.
What happens if I pay with another barter currency after BBE has referred the client to me?
BBE only accept BBE barter dollars, Barter Association National Currency (BANC), and Universal Currency (UC) for payment. On all transactions engaged in by client through BBE, or for which BBE referred client to a potential trading partner, the commission due BBE shall be based upon the full value of the transaction, regardless if the transactions is paid for by cash, cash / trade blend, credit card, check, direct trade, or through another barter company in which client is a member.
Can BBE suspend my trading privileges?
BBE reserves the right at its sole discretion to suspend the trading privileges of any client if client 1. Owes outstanding cash fees due to BBE which are more than thirty (30) days past due. The trading privileges of the client shall be reinstated immediately upon payment of such past due fees. 2. Client ceases to be a client in good standing. Client shall be given notice of such suspension.
When does BBE have the right to terminate my account?
BBE reserves the right, at its sole discretion, to terminate the account of any client if: 1. BBE has received more than two (2) complaints on a given client for either poor performance or attempting to charge in excess of Client's normal retail prices. 2. Client commits fraud against BBE or other Clients. 3. Client is charging cash. 4. Client is overpricing. 5. Client is trading directly with other clients without paying cash transaction fees to BBE. 6. Client is not following the Trading Policies and Procedures. 7. A client is not a client in Good Standing. 8. The filing of any proceedings or petition by client under Federal or State law seeking protection from its creditors or any assignment made by Client, whether formal or informal, for the benefit of Creditors. 9. The appointment of a Receiver or Trustee with respect to Client's business affairs or the filing of any involuntary proceeding against client by its creditors. 10. Client's loss or suspension of any license held by it, which is necessary for Client's business operation.
What happens if I file bankruptcy?
Client grants BBE a security interest in all barter dollars credited and to be credited to Client's account for the amount of all unpaid cash fees. In the event of the insolvency or bankruptcy of Client, all cash fees shall be due and payable in full. Upon the filing of positions under Chapter 7, 11, or 13 of the Bankruptcy Code or an Assignment for Benefit of Creditors, no trade shall be allowed until all cash fees due BBE have been paid in full. Should the Petition under Chapter 7 of the Bankruptcy Code be lifted by or against Client, or should the plan lifted pursuant to either Chapter 11 or 13 not provide for the full payment of all cash fees due BBE, BBE shall have the option, in lieu of filing as a creditor, of treating the barter dollar balance equal in value to the amount of cash fees owing and terminate the account, provided, however, that at such time as BBE does receive all of its cash in full, and in the event of discharge, pursuant to Chapter 7 notice is received from the Trustee that the barter dollars have been abandoned, BBE shall re-credit the barter dollars to the Client's account. In the event of bankruptcy or insolvency of a client where assets of the Company will be sold, BBE has the first right of refusal to bid on barter dollars to be liquidated.
How can I terminate my account with BBE?
Either party may terminate the client Application and Agreement with ten (10) days written notice to the other party. Immediately upon termination, all cash and barter dollar service fees outstanding become due and payable and 1. If client has a negative barter balance (purchases exceed sales), client must balance the account with barter dollars within thirty (30) days of the termination date and, after the thirty (30) day termination period, if the account has not been balanced with barter dollars client must immediately pay BBE any remaining negative balance in cash, or 2. If client has a positive barter account balance (sales exceed purchases) and is a client in Good Standing, client may stay active and spend the balance until purchases equal sales. Until barter dollars are spent, monthly administrative fees will be charged to Client's account. If the client has a positive barter account balance (sales exceed purchases) and the Client’s Application and Agreement has been terminated by BBE, client will be required to pay the twelve and one-half (12.5%) percent cash transaction fee or the fifteen (15%) percent cash transaction fee on the remaining barter dollar balance prior to spending the remaining barter dollars and will be issued a “Debit Card”. Further, such barter dollars shall be spent within ninety (90) days of notice to terminate the relationship with BBE. All barter dollars that are not spent within ninety (90) days from the date on the termination letter will be forfeited and placed by BBE in its general operating account. 3. Barter cards must be returned immediately upon termination. 4. In the event BBE incurs any costs or expenses to collect any sum due BBE from Client, then BBE shall be reimbursed by client for any such costs or expenses, including reasonable attorneys' fees. In the event BBE is the prevailing party in any other controversy or proceeding involving Client, then BBE shall be entitled to the recovery of its costs, expenses and reasonable attorneys' fees in addition to such other remedies being sought therein. 5. If a BBE member shall go out of business, any debt owed to BBE shall be repaid from the BBE Member Loan Fund directly to BBE and will become immediately due to BBE in cash. This payment constitutes a sale to the Client. BBE is required by law to report all barter income to the Internal Revenue Service on a 1099B. Client will then be sent to an attorney or collection agency. All barter and cash debts, including debts paid by the BBE Member Loan Fund, will become immediately due to BBE in cash.
Can BBE change the Trading Policies and Procedures?
BBE may at its sole discretion change the Trading Policies and Procedures of these Agreements by giving client thirty (30) days prior written notice. Failure to give BBE written notice of objection thereto within such thirty (30) day period shall be deemed to constitute acceptance by clients. By using the BBE Marketplace, client agrees to accept the changes. Any purchases or sales after thirty (30) day notice period shall also constitute client’s acceptance of changes.