Terms and Conditions

Agreement

These terms and conditions govern your use of our service. If you disagree with these terms and conditions or any part of these terms and conditions, you must not join and become a member of Silvatree.

You are applying to become a Member and open an account with Silvatree Exchange Ltd., hereafter referred to as TE, for the purpose of trading their products and services with other TE Members who are in the TE network. As a Member of TE, Member agrees:

1. 1. To offer our products and services to other TE Members for Silva at our regular prevailing prices, with the same warranties, guarantees and level of service given to regular cash customers.
2. 2. To pay upon execution of this agreement, an initial set-up fee of £175 cash to be automatically deducted from our TE account.
3. 3. To pay TE a monthly cash transaction fee of 5% + VAT of the total amount of each trade purchase from other TE Members.
4. 4. To pay TE £20 cash monthly fee each month plus 5 Silva. This fee will continue each month the Member has an account with TE. Early Adopters are exempt from this.
5. 5. A service cash charge of 2% per month will be assessed on all delinquent cash fees owed.
6. 6. To acknowledge, consent and grant to TE the right and power to regulate and control the number of outstanding Silva with the exchange system, and to administer credit extension policies for Members as stipulated in this agreement.
7. 7. That all trades and/or transactions are entered into between Participants on a voluntary basis.
8. 8. TE assumes no responsibility for the quality, timely delivery, warranty or dispute of any nature between TE exchange Members with regard to any product or service being traded. TE Members should exercise the same due diligence prior to entering a trade transaction as an ordinary cash transaction. TE is functioning in a brokerage capacity and each TE Member does hereby indemnify and hold TE harmless with respect to any claim, debt, reasonable attorney fees or liability arising out of any trade transaction, whether the TE Member is a buyer or a seller.
9. 9. Anything to the contrary herein withstanding, TE may, at its sole discretion modify, amend or change this agreement in which TE deems necessary, provided the changes and policies are reasonably uniform between the Members. TE shall notify the Members of any material changes to the program in writing thirty (30) days prior to the effective date and any transaction within the trade network after the notice was given shall constitute Participants acceptance.
10. 10. To otherwise abide by and adhere to the accompanying "Trade Rules and Regulations" that are attached hereto made a part of this agreement.
11. 11. It is understood and acknowledged that this agreement and the "Trade Rules and Regulations" constitute the entire agreement between parties and shall be binding upon the Member and the heirs, successors, personal representatives and assigns of the Member. It is further understood that this agreement shall become effective when signed by the Member and approved by an authorized representative of TE.
12. 12. Both parties have the right, power and authority to enter into this agreement and to consummate the transactions contemplated hereby.
13. 13. THE MEMBER MAY CANCEL THIS AGREEMENT AT ANYTIME PRIOR TO MIDNIGHT OF THE 10TH BUSINESS DAY AFTER THE DATE OF THIS AGREEMENT BY EMAIL.

Trade Rules and Regulations

The Trade Rules & Regulations form a part of and are hereby incorporated into the member agreement. The following Trading Rules and Regulations form part of and are included in the Application and Agreement which has been made with TE.

1. Nature of the Parties

TE is a trading company that also acts as a clearinghouse and third-party record keeper of barter transactions among its Members, who are business owners and professionals who contract with TE to organize and facilitate barter of their goods and services with each other. Member is a legitimate business that desires to exchange goods and/or services with other Members and wished to subscribe to TE's record keeping and barter services.

2. Nature of Silva

A "trade" is a barter purchase or sale of goods and/or services whereby payment is made in Silva posted to Member's account pursuant to these Rules and Regulations. Silva is an accounting unit used to record the value of trades. Ownership of Silva denotes the right to receive goods or services available within the TE system. Silva may be used only in the manner and for the purpose set forth in these Rules. They will not be considered legal tender, securities, or commodities. They may not be redeemed for cash, except as approved in these Rules. TE disclaims responsibility for the negotiability of Silva or for the availability of any particular goods or services from any source.

3. Liability for Trade Silva

Member acknowledges that Silva in the barter system (positive balances) are the liabilities of persons/companies who have spent more than their earnings (negative balances); that there is a creditor/debtor relationship between such persons, and that trade transactions incur the normal business risks associated with any credit transaction. As a general rule, Silva are the liabilities of Members who owe the barter system, and not of TE, which is solely liable for its own indebtedness. TE is authorized to establish a bad debt reserve fund by charging all accounts on a regular basis an amount in Silva to be paid into such a fund. Any positive balances abandoned or surrendered by former members in accordance with the Rules may also be paid into the reserve fund.

4. Silva Loans

Members grant to TE the right and power to make Silva loans to any Member on terms and conditions consistent with Member's creditworthiness and ability to repay. The exercise of this power shall be at the sole discretion of TE management with regard to principal, interest, terms and conditions, lending policy, and other particulars. TE reserves the right to require exchange members to complete a formal loan agreement, request financial statements, credit history and collateral prior to loan approval. TE is under no obligation to extend credit at any time. TE will use its best efforts to ensure timely repayments of principal and interest, appropriate collateralization, and perfection of security interest in all loans.

5. Line of Credit

TE may establish a line of credit for each Member, which may be adjusted from time to time. The outstanding balance of the line of credit, as it is utilized, will be treated as a loan under these Rules. A Member who makes purchases in excess of his established line of credit must sell his products or services at 100% trade until such excess deficit is cured.

6. Brokerage Function

TE services in a brokerage capacity in organizing and facilitating trades among Members. Responsibility for the conduct of a trade is exclusively that of the two Members participating in the trade. TE will use its best efforts to broker the Silva or Members into goods or services, to accurately record trades, and to administer these Rules in accordance with its terms. However, Member acknowledges that the sole principals in any trade are the buying and selling members involved, that trades are entered into voluntarily, and that TE is not the agent of any Member, nor is it the guarantor of any trade or trade silva.

22. Termination

Either party may terminate this Agreement upon ten (10) days written notice to the other party. Immediately upon termination, all cash and Silva service fees and commissions outstanding become due and payable, and:

1. If Member has a negative trade balance (i.e., purchases exceed sales), Member shall pay the account with Silva or acceptable products or services within thirty days of the termination date and, after the thirty Days of the termination date and, after the thirty day period, immediately pay TE any remaining negative balance in cash.
2. If Member has a positive trade balance (sales exceed purchases), Member may stay active for 1 month and spend the balance until purchases equal sales by paying TE in advance the cash commissions and service fees on the positive balance.

License to use website

Unless otherwise stated, Silvatree and/or its licensors own the intellectual property rights in the website and material on the website. Subject to the license below, all these intellectual property rights are reserved.

You may view, download for caching purposes only, and print pages from the website for your own personal use, subject to the restrictions set out below and elsewhere in these terms and conditions.

You must not:

• republish material from this website (including republication on another website);
• sell, rent or sub-license material from the website;
• show any material from the website in public;
• reproduce, duplicate, copy or otherwise exploit material on this website for a commercial purpose;
• edit or otherwise modify any material on the website; or
• redistribute material from this website (except for content specifically and expressly made available for redistribution).

Acceptable use

You must not use this website in any way that causes, or may cause, damage to the website or impairment of the availability or accessibility of the website; or in any way which is unlawful, illegal, fraudulent or harmful, or in connection with any unlawful, illegal, fraudulent or harmful purpose or activity.

You must not use this website to copy, store, host, transmit, send, use, publish or distribute any material which consists of (or is linked to) any spyware, computer virus, Trojan horse, worm, keystroke logger, rootkit or other malicious computer software.

You must not conduct any systematic or automated data collection activities (including without limitation scraping, data mining, data extraction and data harvesting) on or in relation to this website without Silvatree's express written consent.

User content

In these terms and conditions, 'your user content' means material (including without limitation text, images, audio material, video material and audio-visual material) that you submit to this website, for whatever purpose.

You grant to Silvatree a worldwide, irrevocable, non-exclusive, royalty-free license to use, reproduce, adapt, publish, translate and distribute your user content in any existing or future media. You also grant to Silvatree the right to sub-license these rights, and the right to bring an action for infringement of these rights.

No warranties

This website is provided 'as is' without any representations or warranties, express or implied. Silvatree makes no representations or warranties in relation to this website or the information and materials provided on this website.

Limitations of liability

Silvatree will not be liable to you (whether under the law of contract, the law of torts or otherwise) in relation to the contents of, or use of, or otherwise in connection with, this website for any indirect, special or consequential loss; or for any business losses, loss of revenue, income, profits or anticipated savings, loss of contracts or business relationships, loss of reputation or goodwill, or loss or corruption of information or data.

Law and jurisdiction

These terms and conditions will be governed by and construed in accordance with the law of England and Wales, and any disputes relating to these terms and conditions will be subject to the exclusive jurisdiction of the courts of England and Wales.