Pay an initial enrollment charge of $250 as dues for one year from today. Annual renewal fees of T$200 will be automatically deducted from Member’s account on the anniversary date.
Pay a cash transaction fee of 10% based on the gross value of each purchase from other Members. This transaction fee is processed in the web-based accounting system, QuikTrade, through a Member controlled Cash Reserve Account (CRA).
Read and abide by Memphis TradePartners (MTP) Rules and Regulations Below:
All purchases are to be paid through MTP. Each Member shall furnish all products and/or services at regular, prevailing prices to other members of MTP in good standing for 100% Trade Dollars unless pre-approved by MTP.
Purchases by Members will be limited to the amount of Trade Dollars accrued to their account balance and/or a credit line established and approved by MTP.
Credit for sales shall register to Members’ account immediately upon entry and approval of transaction via QuikTrade. QuikTrade will not allow transactions that surpass established credit thresholds or without adequate funds in the CRA to pay the associated transaction fee.
MTP or the Member, upon request, may invoke a “Standby” status, temporarily suspending selling capability, except when the account is in the deficit.
All equipment provided to the Member for the purpose of utilizing QuikTrade, is the property of TradeAuthority, LLC and leased through MTP and must be returned to MTP if membership is ever terminated. The member is responsible for any loss, theft, or damage that may occur as a result of non-standard use.
Trade Dollars shall be considered as legal tender, or commodities by either MTP or its Members and may not be converted to cash except as provided for in MTP policies and procedures.
Memberships may not be transferred or sold without MTP approval.
Members will earn T$100 for each new Member sponsored.
Trade transactions are entered into on a voluntary basis. MTP is not responsible for quality, timely delivery, timely payment, warranties or other problems which arise with respect to goods and services traded by Members or MTP. Members with continuing problems in these areas are subject to review and possible termination of membership.
The declaration and reporting of all local, state and federal taxes resulting from trade transactions rests solely with the Member.
MTP is authorized to suspend all activity of Members who fail to adhere to established policies and procedures.
Member or MTP may cancel this agreement at any time after a 30-day written notice. Any outstanding balance due MTP must be paid in full within 30 days, either in goods and services acceptable to MTP or in cash. In the event this obligation is referred to an attorney, Member agrees to pay reasonable attorney’s fees.