TERMS AND CONDITIONS

The Global Xchange (hereafter referred to as Global X) is a trading company that also acts as a Clearing House and third-party record keeper of trade transactions among its members, who are business owners and professionals who contract with Global X to organize and facilitate trade of their goods and services with each other. The member agrees and understand that Global X is a service organization whose purpose is to direct members to each other for trading.

1.Good Standing: A Member in good standing is one who conducts trade in accordance with these Terms and Conditions, is current in any monies owed to Global X and has a valid Member account. Only Members in good standing are entitled to the services of Global X.

2.Taxes: A trade is a barter purchase or sale of goods and/or services whereby payment is made in Global X Dollars and posted to the Member’s account pursuant to these Terms and Conditions. Members are advised that transactions involving Global X Dollars are generally treated as taxable events for federal, state and local tax purposes. Members should consult with their tax advisers for appropriate tax treatment.

3.Courtesy: Member agrees to treat fellow trade Members with the same manner, with the same professionalism, and with the same priority which Member treats all other customers.

4.Selling: All Members must sell all their goods and/or services at the same retail price as member charges to the general public. All goods and services shall be sold at 100% trade unless previously written approval is arranged through Global X.

5.Identify: A buying Member should identify him/herself to the seller as a Global X member before making a purchase.

6.Voluntary: Trade transactions between Members are conducted on a voluntary basis. Any trade transactions disputes over the goods or services purchased or sold shall be between only the buyer and the seller and shall be settled by those parties themselves. Global X assumes no responsibility for the quality, timely delivery, warranty or dispute of any nature between members regarding any products or services being traded.

7.Sales Tax: Seller shall charge the appropriate sales and excise tax and collect and record these at the time of sale. Under no circumstances will Global X be responsible to open or collect any sales, excise, use or other such tax on behalf of any Member. Global X is required by Federal Law to obtain the correct taxpayer identification number of Member and to report all trade sales of Members to the IRS or Form 1099-B.

8.Transactions: All trades with other Global X members must be done through Global X. Transactions involving Global X trade dollars with members are commissionable. Global X reserves the right to charge cash fees on all purchases or sales including but not limited to those purchases or sales that include a cash/trade component.

9.Indemnify: Member agrees to indemnify and hold harmless Global X, it’s agents, officers, directors and employees, for any loss incurred by Global X which is caused by an act or omission of Members including, but not limited to, attorney’s fees, court costs and litigation expenses, paid or incurred as a result of Global X’s relationship with the Member as well as “collection costs” and litigation expenses related to the neglect or refusal of the member to comply with the Application and/or Global X Terms and Conditions (current or as amended or supplemented).

10.Members Cards: Member is solely responsible for all charges made on cards issued to Member’s account. In the case of a lost or stolen card, Member must notify Global X in writing or in person of the loss, theft, or possible unauthorized use. Please be advised the Global X Card is like a cash debit card and Global X cannot be responsible for Member’s loss.

11.Authorization Code: Upon making a purchase, the purchasing Member shall present a Global X membership card to the seller who shall obtain an authorization code for the amount of the transaction (NOT to include any taxes). An authorization code and the buyer’s signature on a Global X trade slip or other written document are required on all transactions. This authorization will transfer funds from buyer’s account to seller’s account.

12.Records: Seller is responsible to keep a copy of the authorization code with proper date of sale. Global X is not responsible for posting trades seven (7) days after the date of sale. Monthly statements are deemed accurate as printed unless member notifies Global X in writing of any discrepancy within fourteen (14) days of statement date.

13.Stand-By Status: Member may call Global X and request that his/her account be place on temporary “stand-by” status. A Member may not request “stand-by” when their account is in a deficit position. If a Member wishes, a deficit may be satisfied by paying to Global X the indebtedness in cash, and then the account can be placed in “stand-by” status.

14.Cancel Membership: A Member may cancel his/her membership by providing Global X with thirty (30) days written notice and by making full payment in cash for all service fees and dues charged by Global X. If the Member has Global X Dollars in his/her account at the time of cancellation of membership, the Member agrees to spend those Global X Dollars for goods and services offered by other Members of Global X. If the Member has a deficit trade balance and wishes to cancel his/her membership, the Member must pay the amount of the trade deficit to Global X in cash. Normal fees and service charges will continue to be billed until the account is paid in full.

15.Administration: Global X serves in a brokerage capacity organizing and facilitating trades among Members. Global X will use its best efforts to broker the Global X dollars of the Members into goods or services, to accurately record trades, and to administer these Terms and Conditions in accordance with their terms.

16.Warranties: Global X is not responsible if a Member cannot find specific products or services to buy from the Members. Global X is not responsible for the quality, timely delivery, warranties, or other problems which arise with respect to goods and services traded by Members of Global X. Global X makes no representations or warranties, either expressed or implied, and disclaims all liability as to the fitness, quality, delivery date, merchantability, prices, or any term of any trade transaction.

17.Diligence: Members should exercise the same diligence in entering into trade transactions as they exercise in entering business transactions for cash.

18.Commitments: Global X is responsible only for commitments made in writing by a duly authorized officer of Global X, and not for verbal or written commitments made by account executives, trade brokers, or other representatives of Global X.

19.Termination: if a Member violates any terms of the Membership agreement or Terms and Conditions now or hereafter in effect, Global X may immediately terminate the Member’s account in accordance with these Terms and Conditions or may freeze all activity in the account without notice until such time as Global X, in its sole discretion, reinstates the Member or decides to terminate the Member’s account. Upon terminating a Member’s account, if a Member has a negative trade balance (i.e. purchases exceed sales), Member shall trade acceptable products or services to eliminate the negative balance within thirty (30) days of the termination date or after the thirty (30) day period immediately pay Global X any remaining balance of the trade deficit in cash.

20.Court: Member agrees and consents venue for any legal actions arising out of Member’s participation in Global X shall be proper in Middle District Court in Orlando and/or the Ninth Judicial Circuit for the State of Florida.

21.Promotion: Global X may use, free of charge, the name, address and logo of any member in any Global X advertising and promotion, unless otherwise stipulated in writing by Global X Members. Memberships in Global X may not be transferred or sold or assigned in any fashion without prior written approval from Global X.

22.Late Fees: Late fees of $10 cash/$10 trade and 1.5% of the gross amount of cash fees due per month will be assessed at month end if the transaction fees and charges are not paid in full. A suspension of trading privileges may be put into effect until the account its current.

23.Fees: Membership fees, monthly support and accounting fees and transaction sales and customer acquisition and society fees are not refundable. A $25 cash service charge will be levied for any and all returned checks, credit card declines or pre-authorized payment declines, for any reason, by a financial institution for each said return.

24.Interest Charges: An addition of 0.83% monthly fee (APR 10%) in trade dollars shall be charged to the account for a deficit balance in the trade portion of the account. A 1.5% monthly fee (APR 18%) in cash shall be charged on the account for past due cash fees due on the account. Trade dollar fees due shall be automatically deducted from the client’s account, the client’s frozen and no trade dollars shall be spent until the cash fees are paid in full.

25.Freeze or Cancel Members Account: Global X may freeze an account and/or cancel this membership agreement if:

A.Global X has received two or more complaints on a given member found attempting to charge in excess of Member’s retail prices or for overpricing in any form

B.The Member has committed fraud against Global X or against any Global X Members;

C.The Member is charging cash without the express consent of Global X and/ or not following and abiding by Members contractual agreement with Global X.

26.Guarantee: Should Global X fail to offer $1000 in business for the Member within one (1) year of the date of this contract, any membership fee paid at signing will be returned to the Member.