Disclaimer & Highlights of Trading Rules

Welcome to Global Barters, a Multinational Barter Exchange Owned & Managed by BBX Barters Services Pvt Ltd. In India.

The following Disclaimer along with the Trading Rules are integral part of the contract between the Participating Member ("Member") and Global Barters and must be read & understood thoroughly by each member.

Any use of the Global Barters ("Exchange") to facilitate a transaction by a Member constitutes acceptance of this Disclaimer Policy.

At its sole discretion, Global Barters may amend the Rules by giving Member(s) thirty (30) days notice. Notices and all other conditions for membership are defined in the MEMBERSHIP AGREEMENT TRADING RULES AND REGULATIONS; available online at www.ebbx.com & www.globalbarters.in

TRADE OBLIGATIONS & RESPONSIBILITIES

1.1 The Members agree to sell their goods and/or services through Global Barters at its prevailing or normally advertised prices and with the same priority given to cash customers, but may exclude 'sale' items.
1.2 It is up to the Buyer and Seller to negotiate the payment of Invoice value , its taxes, levies and duties between them. It is strongly recommended that the Seller determines these costs before finalizing the deal and the Buyer investigates these costs before purchasing the goods.
1.3 Members with a Zero or Negative trade balance in Global Barters may request to go on "Standby" for purchase and are not obligated to buy unless they increase their limit by selling Goods or Services. If a Member requests standby status, the other Members should not contact this Member for purchasing goods or services on Global Barters during the requested period. Member will still be liable for the applicable service fees and charges even though they have not participated in purchase or sale activity for that period.
1.4 A Member with a negative trade balance may not refuse a trade that is equal to or less than the amount of their negative balance unless otherwise agreed, in writing, with Global Barters.
1.5 Global Barters acts as a broker by matching the buyers and sellers for the desired transactions. Cash transaction are prohibited, but if consummated, they are subject to an applicable cash transaction fee payable by the buyer and the seller on the entire transaction value.
1.6 When buying or selling products and services from the other Members, the buyer or seller must identify the opposite entity as a Global Barters Member prior to negotiating prices, or engaging sales personnel.

1.7 TRADE CO-ORDINATION :-

Global Barters will use its best efforts to assist Members to do business among themselves by, among other things, maintaining current Member information on computer files and written records; appointing Trade co-ordinators to provide information on the goods and services available through the Exchange. Member acknowledges that the sole principals in any Exchange transaction are the buying and selling Members involved, that transactions are entered into voluntarily, and Global Barters is not a guarantor of any transaction. Global Barters will use its best efforts to record transactions accurately, to administer the Rules, and to assist in the sale of goods and services to other Global Barters Members. However, the initiative for using the Exchanges services is exclusively that of the Member.
1.8 AVAILABILITY OF PRODUCTS AND SERVICES - Global Barters shall use its efforts to enroll new businesses with products and services to meet the needs of the Members. Global Barters is not responsible if Member cannot find specific products or services or Buyers for their products and services within the Exchange.
1.9 ADVERTISING AUTHORIZATION - Member authorizes Global Barters to inform other Members of the availability of Members' products or services. This includes listings in local, regional, national, and international directories and listings on the Internet and promotional mailers etc.
1.10 SERVICE & Other FEE - Member will pay Global Barters service fee for record-keeping and administrative services. The member agrees to abide by the terms, as mentioned in the " Members Registration Form". Both the parties involved in sale or purchase , should pay cash transaction fee due to BBX Barter Services Pvt. Ltd. online or by cheque before execution of each order.
1.11 RELATIONSHIP WITH MEMBERS OF ENTIRE BBX INTERNATIONAL LTD RUN EXCHANGES- All the Global Barters members are able and authorised to transact with all the members of BBX system, subject to FEMA. Any practical difficulties may be brought to the notice of Global Barters for earliest resolution.

2. RECORD KEEPING

- Global Barters will issue periodic online statements for Members, reflecting their account activity and amounts due and owing to Global Barters. Statements will be deemed accurate as viewed unless Member notifies Global Barters, in writing, of any discrepancy immediately or latest within a week of such occurrence. Interim account activity summaries are available online at www.ebbx.com. Global Barters operates on a monthly accounting cycle which conforms to the calendar month.

3. RECORDING TRANSACTIONS

-Maintaining any written documentation of the transaction, including an authorizing signature from the Buyer, in case of dispute, is the sole responsibility of the Seller. Mailing of the original authorized Global Barters transaction invoice does not constitute waiving that responsibility. If no signed authorization from the Buyer is kept by the seller, the transaction may be reversed at the Buyer's written request. Global Barters has the right but, not the obligation, to reverse transactions due to non-compliance with these Rules or failure to provide goods or services as represented, in which event it will be the Buyers responsibility to collect goods or services owed from the Seller. Transactions are subject to final audit and verification by Global Barters and, in case of inaccuracies or non-compliance, Global Barters may debit or credit Members account without notice.

4. DISCLAIMER OF WARRANTY AND LIABILITY -

Global Barters makes no representation or warranty, either express or implied, and disclaims all liability, as to the fitness, quality, delivery date, merchantability, prices or any term of any trade transaction. Member agrees to indemnify and hold Global Barters harmless with respect to any claim, debt, or liability whatsoever, arising out of any transaction wherein Member is a Buyer or a Seller. Member acknowledges that any transaction facilitated by the Exchange, in which Member participates is entered into by Member on a voluntary basis. Member agrees to waive any claim, debt, or liability whatsoever against Global Barters arising out of any computer or software malfunction or posted transactions on a Members trade account.

5. TAXES -

Seller shall be solely responsible to collect and remit to the appropriate taxing authorities the applicable GST, sales, Service , excise, use or other taxes and shall collect and record these as required by law. Under no circumstances is Global Barters responsible to pay any GST, Service Tax, PST, VAT sales, excise, use or other taxes on behalf of any Member. Transactions involving Global Barters are generally treated as taxable events for federal, state or provincial, and local tax purposes and Global Barters reserves the right to report all or any Barter sales to the appropriate government taxing authority. The declaration and reporting of applicable taxes resulting from trade transactions rests solely with the Member. Member agrees to indemnify and hold Global Barters harmless for any actions Global Barters takes to comply with federal, state or provincial, and local laws. The members shall know that any sales through Global Barters shall be treated as revenue of the members & must be taken iinto account for Profit & Loss Account compilation and applicable Income Tax rules shall be followed.

6. ARBITRATION -

Any claim arising under this agreement or any other agreement between Global Barters and a Member shall be resolved by binding arbitration, which shall govern all aspects of such arbitration, including its initiation, procedures, finality and enforcement.

7. TRANSACTION RULE VIOLATIONS

- Global Barters has the right, but not the obligation, to inquire into complaints of Rule violations by the Members. Member grants to Global Barters the right to take such actions which, at Global Barters sole discretion, are deemed necessary. Violations of the Rules may result in termination of Member's account and/or immediate adjustment to the transactions involved. If Member fails to buy from, and sell to, other Members in Good Standing in accordance with these Rules, that Member will be in material breach of the Rules. If Member violates any term of the currently effective Rules, Global Barters may immediately terminate Member's account or may freeze all activity in the account without notice. At its sole discretion, Global Barters may reinstate a Member or unfreeze Member's account.

9. WARRANTY OF INFORMATION

- Member warrants that it provides all information to Global Barters in good faith and that such information is accurate to the best of Member's knowledge. It is the sole responsibility of the Member to maintain the accuracy of their contact information, offerings, online advertisements and transaction activity all of which is available and maintained online at www.ebbx.com in accordance and with full consideration to the "Online Terms and Conditions". We undertake to comply with the Terms of our privacy policy which is described the Global Barters Privacy Policy located on the web at www.globalbarters.in.

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