Terms of Service
The rules of the exchange, plain and clear. We wrote these so you can actually read them.
Welcome to IslandBarter. These Terms of Service ("Terms") govern your membership in and use of the IslandBarter trade exchange ("Exchange"), operated by Terry Arthur Consulting ("Company", "we", "us") in St. Thomas, U.S. Virgin Islands. By becoming a member, you agree to these Terms in full. We keep our language straight because on this island, your word is your bond — and these are ours.
1. Membership
1.1 Eligibility
Membership is open to businesses, service providers, and individuals located in or serving the U.S. Virgin Islands who have goods or services of value to trade. All applicants must complete the membership application and be approved by the Exchange broker. We reserve the right to decline any application at our sole discretion.
1.2 Account Activation
Your membership begins upon approval of your application and payment of the first month's membership fee. Each member receives a Trade Dollar account and a listing in the member directory.
1.3 Membership Fees
The monthly membership fee is T$20 (twenty Trade Dollars), payable in Trade Dollars — not US Dollars. New members receive a T$100 signup bonus that covers the first five months of membership. Membership fees are deducted monthly from your Trade Dollar balance and are non-refundable. Failure to maintain sufficient Trade Dollar balance for membership fees may result in account suspension or termination.
1.4 Termination
Either party may terminate membership with 30 days' written notice. Upon termination, any outstanding Trade Dollar balance (positive or negative) must be settled. Positive balances must be spent within 60 days of termination notice. Negative balances must be fulfilled through service delivery or settled in US Dollars at a 1:1 ratio.
2. Trade Dollars
2.1 Value
One Trade Dollar (T$1) is valued at one US Dollar ($1.00 USD) at all times. This valuation does not fluctuate. Members must price goods and services in Trade Dollars at the same rate they would charge in US Dollars.
2.2 Earning & Spending
Trade Dollars are credited to your account when you provide goods or services to another member. Trade Dollars are debited from your account when you receive goods or services from another member. All transactions must be recorded through the Exchange's recording system.
2.3 Signup Bonus
The first 100 approved businesses receive a one-time T$100 signup bonus deposited into their Trade Dollar account upon activation. This bonus covers the first five months of membership fees and allows new members to begin spending immediately. The signup bonus is non-transferable and non-refundable.
2.3.1 Identity Verification
A credit card is required during the application process for identity verification only. Your credit card will never be charged. All fees on IslandBarter are paid in Trade Dollars, not US Dollars.
2.4 Transaction Fee
There are no transaction fees on IslandBarter. Members trade freely with no per-trade charges. The Exchange is supported through monthly membership fees paid in Trade Dollars.
2.5 Mixed Transactions
Members may agree to split transactions between Trade Dollars and US Dollars. The Exchange only records and tracks the Trade Dollar portion. The cash portion is a private arrangement between the parties.
3. Member Obligations
3.1 Fair Pricing
Members must charge the same prices in Trade Dollars as they would in US Dollars. Inflating prices for trade transactions is prohibited and grounds for suspension or termination.
3.2 Quality of Service
Members must provide the same quality of goods and services for Trade Dollar transactions as they would for cash transactions. Deliberately providing inferior goods or services for trade is prohibited.
3.3 Transaction Recording
All trades must be recorded through the Exchange's system. Unrecorded transactions are not recognized by the Exchange and the member assumes all risk for unrecorded trades.
3.4 Active Trading
Members are expected to actively participate in the Exchange by both earning and spending Trade Dollars. Members who consistently accumulate large positive or negative balances without actively trading may be contacted by the broker to discuss rebalancing.
4. Dispute Resolution
4.1 Mediation
All disputes between members regarding trade transactions shall first be submitted to the Exchange broker for mediation. The broker will review the facts, hear from both parties, and propose a fair resolution. Most disputes are resolved within 48 hours.
4.2 Binding Decision
If mediation does not resolve the dispute, the Company reserves the right to make a binding decision regarding the Trade Dollar transaction in question. This decision is final with respect to the Trade Dollar amounts involved.
4.3 Legal Disputes
Nothing in these Terms prevents any member from pursuing legal remedies available under the laws of the U.S. Virgin Islands for matters beyond the scope of Trade Dollar transactions.
5. Tax Obligations
5.1 IRS Reporting
Barter exchange transactions are taxable under IRS regulations. The Company will file Form 1099-B with the IRS for each member reporting Trade Dollar income for the calendar year, as required by law.
5.2 Member Responsibility
Each member is solely responsible for reporting barter income on their tax returns and paying any applicable taxes. The Company does not provide tax advice. Members are encouraged to consult with their own tax professional.
6. Liability & Disclaimers
6.1 No Warranty
The Exchange is provided "as is." The Company does not guarantee the quality, safety, or legality of goods and services offered by members. The Company does not guarantee that any particular goods or services will be available through the Exchange at any time.
6.2 Limitation of Liability
The Company's total liability to any member for any claims arising from or related to the Exchange shall not exceed the total membership fees paid by that member in the 12 months preceding the claim. The Company shall not be liable for any indirect, incidental, consequential, or punitive damages.
6.3 Member Conduct
The Company is not responsible for the actions, omissions, or conduct of any member. Each member is an independent business or individual, not an employee, agent, or representative of the Company.
7. Modification of Terms
The Company may modify these Terms at any time by providing 30 days' notice to members via email. Continued membership after the notice period constitutes acceptance of the modified Terms. If you do not agree with the modifications, you may terminate your membership as described in Section 1.4.
8. Governing Law
These Terms are governed by the laws of the U.S. Virgin Islands. Any legal action arising from these Terms shall be filed in the courts of the U.S. Virgin Islands, District of St. Thomas.
9. Contact
Questions about these Terms? Contact us:
IslandBarter (operated by Terry Arthur Consulting)
St. Thomas, U.S. Virgin Islands
Email: [email protected]
Phone: (340) 725-1233