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Terms and Conditions

RECYCLING OFFSET CREDIT ACCOUNT AGREEMENT 

This RecycleNet Corporation Recycling Offset Credit Account Agreement ("Agreement") contains the terms and conditions that govern an individual's or entity's participation in the RecycleNet Corporation Recycling Offset Credit Program (the "Program"). As used herein, the term "RecycleNet" refers to RecycleNet Corporation; the term "Participant" refers to the individual or entity applying for participation in the Program. 

ENROLLMENT IN THE PROGRAM 

To enroll in the Program, Participant must submit recycling transactions into a Recycling Offset Credit Account.  Submission of transactions into the Recycling Offset Credit Account is deemed acceptance of all of the terms and conditions set forth in this Agreement.

RecycleNet reserves the right to accept or reject any Recycling Offset Credit Account at RecycleNet's sole discretion, for any reason or for no reason.

RecycleNet may not accept a Recycling Offset Credit Account for a Participant that RecycleNet deems to be unlawful, harmful, defamatory, obscene, discriminatory or otherwise objectionable, in RecycleNet's sole discretion.

 PROGRAM

  • Entering an initial recycling transaction into the Recycling Offset Credit Program will set up an account for the Participant.  The Participant will receive instructions for logging into their RecycleNet Recycling Offset Credit Account using a username and password.
  • Participant, at Participant's sole cost and expense, will be responsible for the entry of any buy, sell, trade recycling transactions they have completed into their Recycling Offset Credit Account.
  • Participant is fully responsible to provide all details required to verify these transactions including the counter party details.
  • Once a transaction has been added into the Participant's Recycling Offset Credit Account this transaction must be verified by the counter party of the transaction to its authenticity. It is the Participants responsibility to make sure that the counter party verifies the transaction once they have been contacted by RecycleNet.
  • Upon verification of authenticity both parties will receive 1 (one) Recycling Offset Credit into their accounts for every ton of material bought, sold or traded.
  • RecycleNet does not charge any fees to participate in the earning of credits.


    Participants that accumulate credits in their accounts can then either:
    1) redeem their credits for a Recycling Offset Credit Certificate verifying the account holder's recycling achievements
    2) trade their credits in the RecycleNet Offset Credit exchange to other companies or individuals wishing to offset their carbon footprint

    1) Redemption of credits:  Credits redeemed for a Certificate will be retired from the Participant's account.  Credits redeemed for a Certificate are non-transferable or redeemable for future trading purposes.  Shipping and Handling charges will apply for issuance and delivery of certificates.  Shipping and Handling charges may either be paid by credit card or by authorization of withdrawal of funds from the participants deposit account. RecycleNet does not guarantee that any Certificate that is issued can be used for anything other than proof of Participant's recycling efforts.

    2) Trading of credits:  Trading of credits will be through the RecycleNet Offset Credit exchange on a bid/ask basis.  Participant must have credits available in their account to trade in the exchange.  To Purchase credits in the RecycleNet Offset Credit exchange purchaser must have certified funds in their deposit account to cover the transaction.  To deposit funds the purchaser must deposit USD funds by bank wire transfer or certified check.  Shipping and Handling charges may either be paid by credit card or authorization of withdrawal of funds from the participant's deposit account.

    RECYCLENET RESPONSIBILITY 

    1) RecycleNet will be responsible for providing all aspects of the recycling transaction entry software and customer service under the program.

    2) RecycleNet will be responsible for issuance of the RecycleNet Offset Credit Certificate, upon request, for the credits in the Participant's account.

    3) RecycleNet does not guarantee that any Certificate that is issued can be used for anything other than proof of Participant's recycling efforts.

    4) RecycleNet will be responsible for the operation of the bid/ask RecycleNet Offset Credit exchange.  Upon completion of a trade order RecycleNet will be responsible for the transfer of funds from the buyers RecycleNet Offset Credit account into the sellers RecycleNet Offset Credit account and the transfer of the Recycling Offset Credits into the buyers RecycleNet RecycleNet Offset Credit account.

    TERM

    The term of this agreement will begin when you submit your first recycling transaction into your Recycling Offset Credit Account and will end when terminated by either party. You or we may terminate this agreement at any time, with or without cause, by giving notice to the other party via letter, fax or e-mail.

    MODIFICATION OF THIS AGREEMENT

    RecycleNet may modify any of the terms or conditions of this Agreement at any time at RecycleNet's sole discretion by posting a notice of modification on RecycleNet's Site. In the event any modification is unacceptable to Participant, the only course of action for Participant is to terminate this Agreement by giving notice to RecycleNet via letter, fax or e-mail. Participant's continuation of participation in the Program after the posting of a notification of modification will be deemed to be Participant's acceptance of with the modification of the Agreement.

    DISCLAIMERS

    RecycleNet will not be liable for any damages arising from the activities set forth in this Agreement. RecycleNet offers no warranties directly or indirectly with respect to the Program. There is no warranty functionality or performance of RecycleNet's Site. RecycleNet will not be liable in any way for the consequences of errors or interruptions of service at RecycleNet's Site.

    LIMITATION OF LIABILITY

    RecycleNet shall not be liable for direct, indirect, special, or consequential damages, or any loss of revenue, profits or data arising in connection with this Agreement or Participant's participation in the Program. Participant's sole remedy available with respect to this Agreement or any breach of this Agreement by RecycleNet shall be to terminate this Agreement.

    ACKNOWLEDGMENT

    Participant acknowledges that Participant has read this Agreement and agrees to all the terms and conditions set forth herein. Participant hereby represents, warrants and covenants that Participant has full and binding authority to enter into this Agreement, and that this Agreement has been duly and validly executed and delivered by Participant, and constitutes Participant's legal, valid, and binding obligation, enforceable against Participant in accordance with all of its terms and conditions.
    Participant has independently evaluated the desirability of participation in the Program and is not relying on any representation, statement or guarantee by RecycleNet other than that which is contained in this Agreement.

    INDEMNIFICATION

    RecycleNet may at any time, at its sole discretion, terminate all or part of the Program or suspend or terminate the participation in all or part of the Program for any reason. Upon termination of the Program or termination of participation in the Program:

    1) RecycleNet will issue refunds to the account holder any cash in the participants account, less any shipping and handling charges, within approximately ninety (90) days after termination of the account. To ensure proper payment the Participant is solely responsible for providing and maintaining an accurate address and other contact information associated within their account.

    2) Issue a certificate for any ROCs balances in the account holders account, less shipping and handling charges.

    3) Participant agrees to indemnify and hold harmless RecycleNet Corporation if RecycleNet chooses to discontinue the program. This program is a purely voluntary participation program and RecycleNet does not guarantee that any Certificate that is issued can be used for anything other than proof of Participant's recycling efforts.


    RecycleNet ROCs

    File No.: 11655

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