This agreement is made between “Member” which is a viable business based in Colorado and COJACKS LLC (“COJACKS”), a Colorado Limited Liability Company.
Member agrees to accept printed notes by COJACKS at the same value as Federal Reserve Notes (“Dollars”). These notes created by COJACKS will be referred to in this document as “CjNotes”. Just as Dollars are represented by the symbol “$” CjNotes are represented by the symbol “Cj”. Therefore, Cj100 would be the CjNotes equivalent of $100.
Member agrees to accept CjNotes according to one of the two following terms:
1) Member agrees to be a Pro Business Member and accept 30% or more of any transaction in CjNotes from all clients and customers who wish to pay with CjNotes.
All Members agree: To accept CjNotes, at face value, equal to Dollars.
By agreeing to accept CjNotes equal to Dollars, Member, has the option to trade Dollars for CjNotes to spend at other Member businesses or anywhere CjNotes are accepted. Members have the ability to trade Dollars for CjNotes at the Member Discount Rate(“Rate”). The Rate is currently 1 to 3 for Pro Business Members. Therefore, 1 Dollar can be traded for 3 CjNotes for Pro Business Members. The Rate is currently 1 to 2 for Basic Business Members. Therefore, 1 Dollar can be traded for 2 CjNotes for Basic Business Members.
Members are limited to the amount of Dollars they can trade for CjNotes at the Discount Purchase Cap (“Cap”).
Member’s Cap is currently Six-Thousand CjNotes (Cj6,000) and can be changed by COJACKS at the sole discretion of COJACKS. (See your COjacks representative for details.)
Members who wish to trade Dollars for CjNotes must do so in increments of $200 or more.
- Ability to purchase CjNotes at the Rate up to the Cap Amount.
- Listing of business on cojacks.com website as a Member business.
- Member can earn a referral bonus for signing on other businesses. Currently, the referral
bonus is Cj100 for each new Member Business referred by Member.
Members agree to accept CjNotes equal to Dollars for 24 months from the date of signing this member agreement. Members are encouraged to continue to accept CjNotes for payment beyond the 24 months required. Anyone can accept CjNotes as payment but only Members are allowed to purchase CjNotes at the Rate.
This agreement renews automatically, every year, unless cancelled in writing by either COJACKS or Member.
If Member does not accept CjNotes for a particular transaction, or changes the price of the transaction when customer wishes to pay with CjNotes, or does not accept CjNotes on a one to one basis with Dollars such an event will be considered a Strike (“Strike”). If three (3) Strikes occur Member agrees to pay a fine to COJACKS equal to the total issuance of CjNotes received by Member during the previous year. This fine is payable in CjNotes or Dollars. Members with three (3) Strikes will also have their Member information removed from the COJACKS website.
Members can terminate their membership 12-months after their last purchase of CjNotes from COJACKS and this must be after the initial 24-month term of this agreement.
Currently, CjNotes are pegged to Dollars at a one to one ratio. COJACKS reserves the right to revalue CjNotes. Potential options for revaluing include but are not limited to: 1) pegging CjNotes to Dollars at a different ratio than one to one 2) floating CjNotes without pegging it to any other currency 3) pegging CjNotes to the value of other currencies or commodities. CjNotes are not redeemable for Dollars or anything else from COJACKS. Once CjNotes have been purchased or granted they may not be converted back. Members do not own or have claim to any part of COJACKS.
Notices shall be either (1) mailed first class, certified or return receipt or (2) emailed. Notice to Member can be mailed to address provided or emailed to email provided. Notice to COJACKS must be mailed to: COjacks LLC, 2874 Haskell Court, Watkins, CO 80137 or emailed to email@example.com.
Member will be subject to the COJACKS MEMBER BUSINESS RULES, Amendment A, following. COJACKS reserves the right to change the COJACKS MEMBER BUSINESS RULES from time to time as necessary.
Version 1.0 Last Changed December 3rd, 2012
- Members agree to accept CjNotes at the same rate as Dollars.
- Members will accept 30% or more of payment in CjNotes in any transaction where client
or customer wishes to pay in CjNotes for Pro Business Members and Members will
accept 10% or more of payment in CjNotes in any transaction where client or customer
wishes to pay in CjNotes for Basic Business Members.
- Members will report any counterfeiting activity of CjNotes to COJACKS.
- Members can return badly damaged CjNotes to COJACKS which will be taken out of
circulation and Member will receive new CjNotes to replace the damaged ones.
- Members are responsible for handling CjNotes as they would normally handle any other
cash currency and COJACKS is not responsible for Members lost or stolen CjNotes.
- COJACKS does not currently act as a depository for CjNotes.
- Members can meet with a COJACKS representative and review in person the records of
issuance to all Members.
- Members are responsible for their own tax liability for transaction in CjNotes. It is a
general rule of thumb to treat CjNotes the same as you would any cash transaction.
- COJACKS reserves the right to update the rules as necessary.
This Agreement shall be governed by the laws of the State of Colorado.
If any paragraph in this agreement is unenforceable then that paragraph shall be removed and the rest of the contract shall remain in full force and effect.
This agreement constitutes the whole agreement between the parties and supersedes all previous agreements between the parties relating to its subject matter.
COPYRIGHT 2014 COJACKS LLC