These terms and conditions contain legal obligations and constitute a binding agreement between you, the Member, and Universal Expansion Group, Inc. By becoming a Member of UEG, you agree to be bound by the terms and conditions set out in this Member Trade Agreement. Please read this Member Trade Agreement carefully before agreeing to the terms.
Throughout this Agreement, the following definitions will apply:
“UEG” means Universal Expansion Group, Inc., a company incorporated under the laws of Barbados, and its affiliates and subsidiaries, including but not limited to Collective Currency Exchange and Credit Clearing Solutions.
“Digital Gift Certificates” means gift certificates for the Company’s goods and services, in digital form, offered by the Member for trade on the Trade Site.
“Member” means any person, business or corporation who applies for membership to UEG and has been accepted by UEG as a member in good standing and eligible for trading goods and services on the Trade Site.
“Site” means the internet websites owned and operated by UEG, including but not limited to www.collectivecurrency.com, www.tradeexchangeinternational.com, www.certificatecleranceauction.com, and all content and services available on those websites.
“Trade Dollar” means the virtual currency used to value goods and services on the Trade Site, and is equal to cash dollars.
“Trade Site” means the online retail barter exchange operated under www.collectivecurrency.com
“Trading Services” means website access, software access, and information services provided by UEG, its brokers and trade consultants, through www.collectivecurrency.com to Members.
IN CONSIDERATION OF becoming a Member of UEG and for other good and valuable consideration, the receipt of which is hereby acknowledged, I agree as follows:
2.2 It is the Member’s responsibility to keep its username and password confidential. The Member also agrees to provide accurate and current information, and to update such information if it changes, and to notify UEG of any suspected unauthorized use of the Member’s account. UEG will not be liable in any way for any loss the Member suffers as a result of the Member’s failure to comply with this requirement.
2.3 The Member may not transfer its account and password to another person or entity, without UEG’s prior written consent.
3.1 UEG will provide an online retail barter exchange and broker managed Trading Services to the Member in exchange for payment of transaction, monthly account fees and any other applicable fees in compliance with the terms and conditions of this Agreement, which could include travel booking fees, restocking fees for returned scrip or merchandise, interexchange fees charged for out of area transactions, or other types of fees.
3.2 All transactions made by the Member on the Trade Site shall be recorded by UEG on the Member’s account. Purchases will be shown as debits, and sales shown as credits. All transactions will be recorded in Trade Dollars.
3.3 The Member acknowledges that the Trade Site contains links through the Internet to third party websites (“Linked Sites”). UEG does not endorse the Linked Sites, is not responsible for the content or privacy practices of Linked Sites, and makes no representations or warranties as to the content or accuracy of material on such Linked Sites. The Member acknowledges that the Linked Sites are not screened, censored or safeguarded by UEG, with regard to copyright, obscenity, integrity, safety or reliability. The Member assumes all risk and liability when accessing the Trade Site and agrees to indemnify UEG in accordance with paragraph 9 below.
4.4 The Member agrees to payment of the following: a. a one-time account set-up and initiation fee, equivalent to $500 Canadian Dollars in digital gift certificates for the Member’s goods and/or services; b. a monthly account fee, equivalent to $10 Trade Dollars; and c. transaction fees on every trade transaction made by the Member on the Trade Site, whether a sale or purchase, equivalent to 5% of the trade amount and calculated in Trade Dollars.
4.5 The Member is responsible for ensuring that it complies with all tax laws in its jurisdiction, and that such compliance is the sole responsibility of the Member. The Member acknowledges that UEG expressly disclaims any responsibility for ensuring the Member complies with such tax laws.
4.6 The Member must not use the Trade Site to: a. Post employment opportunities, spam, unsolicited or bulk communications; b. Promote another barter network; c. Post content that is a violation of a person’s right to privacy; d. Post content that is false, inaccurate or misleading; e. Post content that is defamatory, obscene, threatening or abusive; f. Use language that is racist, derogatory, hateful or inappropriate; g. Distribute viruses or other technologies that may be harmful to the operation of the Trade Site or to Users or other Members of the Site; h. Unlawfully obtain, or attempt to access, personal information and accounts of other Members;
4.7 The Member may not use the Trade Site if its account is temporarily or permanently suspended or if its account has been terminated.
4.8 UEG reserves the right to remove comments or posts on the Site that violates section 4.6 without prior notice to the Member.
6.1 Misuse of the Trade Site includes, but is not limited to: a. Any violation of the terms of this Member Trade Agreement; b. Any use of the Trade Site that disrupts the normal use of the Trade Site for other Members; and c. Any modification, alteration, reverse engineering, decompilation, disassembly or creation of derived works based on UEG’s proprietary software or published products.
6.2 UEG endeavours to use its best efforts to maintain the integrity of the Site and to provide Members with an efficient and useful online platform for trading and networking. Please report any problems, violations or misuse of the Trade Site to UEG, and UEG will investigate the matter.
7.1 UEG reserves the right to suspend or terminate the Member’s account and the Member’s access and use of the Trade Site for any breach of this Member Trade Agreement.
7.2 UEG also reserves the right to cancel the Trade Site for any reason whatsoever and without prior notice to Members.
8.1 The Member expressly agrees that UEG shall not be liable for any damages whatsoever, including any direct, indirect, consequential, special, or exemplary damages, business interruption losses, loss of goodwill or reputation and lost profits, whether based on breach of contract, breach of warranty, tort or other legal principles, arising out of the Member’s use or inability to use the Trade Site, or the Member’s reliance on information contained in the Trade Site, whether or not UEG has been informed by the Member, or should have been aware, of such potential loss.
8.2 This limitation also applies in respect of the transactions of goods or services traded through the Trade Site, and the Member expressly agrees that UEG shall not be liable for any damages whatsoever it sustains in connection with entering into a barter transaction with another Member through the Trade Site, or the Member’s use of Linked Sites.
9.1 The Member agrees to release, indemnify and hold harmless UEG, its officers, directors, agents and employees, from any and all liability from any claims or actions by third parties, including accounting fees and legal costs to defend and settle such claims and actions, arising out of: a. the Member’s access to and use of the Trade Site; b. any actions or omissions by the User which violates the rights of the third party; or c. the Member’s failure to comply with this Member Trade Agreement. The Member also agrees to cooperate with UEG in the defence of any such third party claims and actions.
10.1 This Agreement and any rights, duties or obligations between the Member and UEG shall be governed by and interpreted solely in accordance with the laws of the Province of British Columbia, Canada, without reference to any of its conflict of laws rules. Subject to section 11 (Legal Disputes), the Member and UEG also agree to submit to the exclusive jurisdiction of the courts of British Columbia.
10.2 The parties agree that the United Nations Convention on Contracts for the International Sale of Goods is expressly excluded and does not apply to this Agreement.
11.1 UEG encourages the Member to notify it of any concerns he or she may have prior to seeking legal recourse. In the event that such concerns cannot be resolved amicably, the parties agree that any dispute or claim arising for any reason whatsoever out of the use of the Trade Site and this Member Trade Agreement shall be handled by mediation in accordance with the laws of the Province of British Columbia, Canada. Should mediation not resolve the dispute or claim, the parties agree to submit to private and confidential binding arbitration in British Columbia, Canada, for final settlement of the matter, in accordance with the International Commercial Arbitration Act, RSBC 1996, c 233 and its amendments.
11.2 Notwithstanding this provision, UEG reserves the right to pursue any infringement of its intellectual property rights through injunctive or equitable relief in the courts of British Columbia.
12.1 The Member agrees not to sell, resell or assign any rights or obligations under this Agreement. 12.2 This Agreement contains the entire agreement between the parties relating to the use of the Trade Site. If any provision, term or condition in this Agreement is held to be void, invalid or unenforceable by a court of lawful jurisdiction, such provision, term or condition shall be struck and the remaining provisions shall remain in full force and effect. 12.3 The Member acknowledges that he or she is entering into this Member Trade Agreement in reliance on the limitations, disclaimers and exclusions set out in this Agreement, and the Member agrees that sections 8 to 11 of this Agreement shall survive any termination of this Agreement. 12.4 UEG’s failure not to insist upon strict performance of any term or condition of this Agreement shall not be construed as a waiver by UEG of those provisions, and UEG reserves the right to enforce such provisions at any time in the future. 12.5 Headings contained in this Agreement are for reference only and do not limit the scope or extent of such that section. I HAVE READ AND UNDERSTAND THE TERMS AND CONDITIONS CONTAINED IN THIS AGREEMENT AND AGREE TO BE BOUND, WITHOUT LIMITATION OR QUALIFICATION, BY THEM.