LONDON BARTER NETWORK MEMBERSHIP AGREEMENT
Policies and Procedures of Agreement – Acceptance upon registration and use our services
thereafter, London Barter Network constitutes full agreement and acceptance of the below terms
and conditions and demonstrates intent/implied consent. You acknowledge London Barter
Network as being in full compliance with the Ontario Electronic Commerce Act. Compliance
with the Ontario Electronic Commerce Act ( OECA ) is strictly adhered to. The Membership
Agreement is presented, viewable, and agreed to at time of initial registration off-line or on-line
via the website. You can generate and print the membership at www.londonbarternetwork.com at
any time. The email provided upon registration will fulfill the requirement for legal presumption
of delivery of the membership agreement to the recipient. The membership agreement is emailed
to every member, on a monthly basis and a record of these emails is stored. If your email
changes, or is entered incorrectly by you, it is your responsibility to ensure that you have the
correct address for communications and delivery of the membership agreement. You may
request a paper copy of the membership agreement at any time and we shall provide this in a
timely manner. You may copy this information for later reference at any time. To further comply
with OECA, after every trade transaction is processed an automated reminder is also sent to the
email supplied by you, regarding the membership agreement and its terms. If your email
changes, it is your responsibility to ensure we have the correct address for communications.
Registering with London Barter Network, whom your account resides with, you the client agree
to abide by all of the policies as outlined. For the purpose of this agreement London Barter
Network will be referred to as “THE EXCHANGE” and you, the applicant will be referred to as
1. As of March 10th, 2022, all cash fee components of this agreement are suspended
and replaced by equal value trade dollar fees. This suspension will be in place until
a three-month announcement, made in good faith, to all members, that fees will
return to cash based and this clause is removed from this agreement.
2. THE EXCHANGE is a trade dollar network only. Members participate 100% voluntarily
unless in a deficit position. Trade dollars shall not be considered as legal tender,
securities, or commodities, by either THE EXCHANGE or it’s clients and may not be
redeemed for cash under any circumstances. The client agrees to pay THE EXCHANGE
the following: A fee of 1.5% in trade dollars compounded per month will be charged on
all overdrawn trade dollar accounts. The client agrees to pay THE EXCHANGE a
transaction fee of 1% trade dollars on all sales and all purchases due the same time the
transaction occurs. The client agrees to pay THE EXCHANGE a transaction fee of 6.5%
cash on all sales and all purchases due the same time the transaction occurs. The client
agrees to pay a monthly fee of $15.00 cash and $15 trade. THE EXCHANGE will
automatically charge the Client’s account for any such cash or trade fees outstanding on
the credit card provided or from their trade account. The cash and trade transaction fees
apply to any and all EXCHANGE related sales and purchases entered into by the Client.
These transaction fees are applied to the gross value of the individual trade entered into
including all applicable taxes. Every transaction entered into that involves trade dollars is
subject to a cash and/or trade transaction fee. All payments are for processing a client’s
membership into the trade exchange system maintaining records of such transactions, and assisting in clients use of the trade exchange system. All cash fees are in lawful Canadian
3. The Seller may enter into a barter transaction sale to a buyer who does not hold an
EXCHANGE account however the Seller does so at Seller’s own risk. The Buyer must
have a valid EXCHANGE account in good standing in order to make a purchase. Any
sharing of the Client’s account login information, for use in purchases through the
member portal website or the mobile app, is the sole responsibility of the Client.
4. In order for the client to receive credit for a transaction, the seller must obtain the
following: (1) An authorization number from the Exchange office. (2) The buyer’s
signature, a valid email confirmation and or other documentation (such as a contract,
email or purchase order) clearly outlining acceptance of the goods and services, the
buyer’s EXCHANGE account number or name clearly stating payment to be made with
EXCHANGE credit, and the amount of the transaction. (3) A disputed purchase by the
buyer will be automatically be reversed by THE EXCHANGE within 6 months of the
date the transaction appears on the EXCHANGE statement unless the seller provides
THE EXCHANGE with a signed EXCHANGE transaction slip or a copy of valid
supporting documentation forwarded to THE EXCHANGE within 10 days of such
request from THE EXCHANGE. After six months a transaction cannot be reversed for
any reason without the consent of the seller. Making trade dollar sales on the network is
completely voluntary. The client shall save THE EXCHANGE 100% harmless from any
and all liability resulting from the voluntary accumulation of EXCHANGE DOLLARS or
5. THE EXCHANGE will continue to make efforts to solicit new businesses to enter the
trade exchange system if staffing levels are available but does not guarantee any number
of new members. At times goods and services may not be available within the trading
system. It is not the obligation of THE EXCHANGE to provide such goods and services
and the Client saves THE EXCHANGE harmless from any and all liability resulting from
its inability to provide such goods and services. The Client also saves THE EXCHANGE
harmless from any and all liability resulting from any member refusing to sell a product
or service for trade dollars. All sales on the network are 100% voluntary.
6. The seller must furnish all labour and materials at 100% trade at all times unless
authorization from an EXCHANGE Officer is obtained prior. The Seller must enter a
transaction with the buyer at their normal prevailing everyday prices. Any client who
does not abide by these policies is subject to immediate termination.
7. Purchases by a client are limited to the amount of trade credit they have in their account
plus any credit limit. Credit limits are established by application and subject to approval
by THE EXCHANGE. Any deficit amount or credit limit may be called at any time at the
sole discretion of THE EXCHANGE at which time the client is obligated to pay such
deficit amount in cash to THE EXCHANGE on demand. THE EXCHANGE may use the
credit card on file to recover a credit line. Credit lines are not traded dollars earned and
cannot be treated the same way as the accounting units known as trade dollars. Recovery
of credit lines is necessary in cash at certain times to purchase products for the
membership to buy. Credit lines are backed by the membership as a whole and recovery
is for the membership as a whole and is not profit for THE EXCHANGE.
8. Clients may request their account to be placed on standby (not trading sale or purchase)
status if their account is not in a deficit position and 30 days’ notice is provided. Do not try a bait and switch for cash. If you have repeat customers. For example, buying
monthly, you must notify THE EXCHANGE within 30 days’ notice of your intent not to
sell to the buyer on trade in the future.
9. Any time a client’s trade account is in a deficit position, THE EXCHANGE has the right
to demand immediate payment in cash of the total trade deficit due and may take any
action necessary to secure such payment.
10. THE EXCHANGE reserves the right to adjust cash balances with trade members’
11. It is understood that THE EXCHANGE has complete authority to institute policies that,
for the long-term health of THE EXCHANGE, affect and/or restrict buying and selling
within the network.
12.Accounts may not be transferred or sold or assigned in any fashion without prior approval
of THE EXCHANGE.
13. All transactions entered into by the client must be reported to all local, municipal and
federal tax departments including but not limited to appropriate sales and excise taxes
and HST. This reporting obligation rests solely with the clients. THE EXCHANGE sales
are taxable events for municipal, provincial, federal or other authorities, the client agrees
and saves THE EXCHANGE harmless from any such compliance with the laws.
14. Trade transactions are entered into on a voluntary basis between clients. Although THE
EXCHANGE may give referrals as a service to its clients. THE EXCHANGE assumes no
responsibility for the quality, timely delivery, warranty, or dispute of any nature between
clients with regard to any product or service being traded. Clients should exercise the
same diligence entering into trade transactions as they would for ordinary cash
transactions. THE EXCHANGE is functioning in a brokerage capacity and the client
does hereby agree to indemnify and hold the exchange harmless with respect to any
claim, debt or liability whatsoever, arising out of any trade exchange transaction where
the client is a buyer or seller.
15. All cash and trade transaction fees are due and payable upon completion of the
transaction. If payment by cash or cheque is not received by the 25th of the month then
THE EXCHANGE will charge either the Client’s major valid credit card on file (Visa,
Mastercard, American Express) or automatically charge the fees to the client with an
automatic bank debit (void cheque from the client on file). THE EXCHANGE has the
right to suspend all trading privileges of clients whose accounts are not paid within 30
days past due. A late payment charge of 15% will be levied against the client on the last
day of the month if payment is not received from the client. THE EXCHANGE has the
right to suspend all trading privileges and hold the client’s trade balance until cash fees
are paid current. After 90 days past the billing date, if the cash fees are in arrears, THE
EXCHANGE has the right to take the trade balances of any client and the client forfeits
their right to hold such balance. Any client that has a cheque returned, an automatic bank
debit declined, or a credit card charge declined will be charged a $40 (cash) NSF fee.
16. Unless superseded by a policy instituted by THE EXCHANGE under article 10 of this
agreement, the Client or THE EXCHANGE, may notify in writing with 30 days’ notice,
of the cancellation of this agreement. Such cancellation provides a provision whereby the
Client may spend their trade balance within 90 days of such cancellation notice with
clients of THE EXCHANGE after which time the trade balances due the Client become
the property of THE EXCHANGE. Any and all cash fees outstanding become due and payable in full within 30 days. Any and all obligations under this agreement and pursuant
to the rules and regulations in connection with any trade transaction shall survive
termination of this agreement. Termination of this agreement does not allow for any
refund to the client of transaction fees, maintenance fees, set up fees, or other fees.
17. THE EXCHANGE may change policies and procedures from time to time at its own
discretion for the overall good of clients. Any such changes in this agreement shall be
published ONLINE. Retention and/or use of “THE EXCHANGE” OR voluntarily
proceeding with transactions will constitute acceptance of such changes. Forbearance of
indulgence by THE EXCHANGE in enforcing any of the terms of this agreement and
these rules or regulations shall not constitute a waiver of the obligations to be performed
by the client under this agreement. Each and every term and provision of this agreement
is severable and if any such term or provision should be judged invalid, illegal or
unenforceable, it shall not enact the validity or legality or enforceability of this agreement
or the rules and regulations or any term or provision of this agreement or the rules and
regulations and the remainder shall remain valid, legal and enforceable.
18. The client agrees to THE EXCHANGE’S Gift Certificate Policy which is: All certificates
are not redeemable for cash, no change will be provided for certificates under any
circumstances and that any gratuities must be paid in cash. Other conditions may also
apply and are stated on the front or back of the certificate. Members who fail to comply
with this policy may be restricted from purchasing gift certificates in the future. The
client’s monthly statement will be considered accurate as is unless THE EXCHANGE is
notified of any discrepancy within 10 days of the last day in any given month or within
30 days of the date the transaction occurred.
19. Time shall be of the essence in this agreement and with regard to these rules and
20. This agreement shall be considered enforceable in accordance with the laws of the
province in which the Client is located.
21. Upon accepting this agreement and the opening of an account by the Client, the Client
and the individuals who sign for or on behalf of the Client hereby assumes several and
joint responsibilities for any and all purchases and fees as outlined in this agreement and
any individuals signing on behalf of a corporation agree to guarantee and be personally
liable for full performance by the said corporation of this agreement and conformity with
any and all rules and regulations.
22. The Client and THE EXCHANGE agree that any transmission by facsimile, Internet, or
email of this agreement, rules and regulations, changes to rules and regulations,
membership application and or trade receipts and or slips shall be valid and treated as if
they are in the original form. In the event that THE EXCHANGE or the Client utilizes
facsimile, Internet, or email documents, both parties hereby agree to accept and hereby
agree to rely upon such documents as if they bore the original signatures/agreements.
23. Transactions between EXCHANGE clients that are not reported to THE EXCHANGE
are subject to a 6.5% cash transaction fee and a 1% trade dollar fee. Transactions between
EXCHANGE clients that are declined by THE EXCHANGE and are consummated on a
cash basis are subject to a 6.5% cash transaction fee.
24. THE EXCHANGE may place an account on standby and/or cancel this agreement if: (A)
EXCHANGE has received more than (2) complaints concerning a given client for poor
performance or attempting to charge in excess of the client’s normal prices. (B) Client has committed fraud against THE EXCHANGE or any EXCHANGE client. (C) Client is
charging cash and/or not following his/her contractual agreement with THE
25. The client agrees to respond to all claims and complaints from THE EXCHANGE or its
clients and agrees to resolve them directly with the client within 30 days from the time of
notification. If the complaint is not resolved by the end of the 30-day period, THE
EXCHANGE will have full authority to reserve, reverse or hold funds as appropriate.
THE EXCHANGE shall be held harmless from any claim or liability related to any
26. THE EXCHANGE can not assume responsibility for lost, stolen, or expired Gift
Certificates or for Gift Certificates from companies that go out of business. THE
EXCHANGE will mail or email gift certificates at the purchasing member’s risk or send
them by Certified Mail for an additional charge. EXCHANGE is not responsible for lost
or stolen Gift Certificates.
27. Trade dollars shall not be considered as legal tender, securities, or commodities, by any
party, and may not be redeemed for cash under any circumstances. The Client agrees that
any attempts to redeem trade credit for cash will be considered a breach of contract
between THE EXCHANGE and EXCHANGE members who have all agreed to
participate in barter exchange and trade dollar system only.
28. The client authorizes THE EXCHANGE to charge my on file credit card for purchases. I
understand that my information will be saved to file for future transactions on my
account. I also understand that I may cancel this authorization at anytime by contacting
THE EXCHANGE but that the authorization will remain in effect until it is canceled.
BY USING THE EXCHANGE YOU ACKNOWLEDGE FULL AGREEMENT TO THE ABOVE TERMS AND CONDITIONS