Enterprise Exchange Network
(Red Empresarial de Trueque--R.E.T.)
By Peter Moers, FADEMYPE

The following are the rules and procedures of the Enterprise Exchange Network (RET.) they are part of and they are included in the membership application.


The Enterprise Exchange Network (RET) is a service offered by FADEMYPE. The members of the RET are companies or professionals that hire the RET to organize and to facilitate the exchange of their goods and services. The RET has two main functions: (to) to register the transactions among their members and (b) to look for actively supplying and buyers for those members.

The means of exchange of the RET is the "point" which is equal to the Salvadoran Colon. The point only exists in form of balances in the bills of those members; they don't exist physically in form of notes or currencies. The point is not official currency nor an object of speculation.

A Member is a Company that is a day with his financial obligations in front of the RET and that it acts according to that specified in the Internal Regulation. The Members are only entitled to the services of the RET.


a. Account Opening: free for the first 100 companies that join. C 250 for those that register later.

b. Monthly membership fee: free during first year for the first 100 companies. Normal monthly quota: C 25. On the other hand, the Member receives each 3 months a modernized summary of the companies that are part of the RET, their addresses and the products and services that they offer or demand.

c. Transaction Charge: In the period of promotion (the first year for those first 100 companies) the buyer and the salesperson pay each one 2.5% it has more than enough the net value (without IVA) of the sale. The normal rate will be between 2.5 and 5% each (buyer and salesperson) depending on the volume of transactions during the last 12 months and the form of payment of the positions (See Internal Regulations, article C.4 & C.5). This is paid in Cólones.

d. Commission: a Commission is only applied if the manager requests the RET of intermediating in the purchase or sale of products. In this case the applicant (buyer or salesperson) she/he pays 5% about the value of the transaction. The commissions are payable in Colons.

e. Interest on positive accounts: to stimulate trade the RET receives interest of 1% (a percent) monthly on the positive account balances. This is to stimulate purchasing and discourage hoarding. The calculation of the interest it is made in base of the biggest credit that shows the bill in every month. The interest is usually paid in colons. In the period of promotion, the interest is paid half in points and half in colons. On debit account balances, interest is not charged.

Users' types:

Category A: Enterprises. The members of the RET are entitled to credit at 0% (zero percent) interest. Companies that want to take advantage of interest-free credit must provide a letter of responsibility, or another document generally accepted like back for financial commitments. The amount of credit can be fixed or variable. The term is limitless, but it is due whenever the enterprises terminates their membership. Enterprises that don't want credit also must sign a letter of change to support the commitment of paying the previously mentioned positions, quotas and commissions.

Category B: Individuals. Enterprises can open accounts for their employees, family or other individuals, and to transfer points to their bills with the same cost as if it was a purchase (2.5-5% paid in Colons). When clients of category B makes a purchase, the salesperson first always call to the administrator of the RET to verify if she/he has enough liquidity. If the client has sufficient funds balance, the administrator of the RET will give an authorization code, which is filled in the sales receipt. The opening of a bill type B costs 25 colons. The person receives a "Member B Card". The Members of category B does not pay transaction costs (she/he already paid it to the company that credited the bill of the Member category B).

Internal Regulation

A. Behavior of Member to Member

1. All the products and services offered through the RET should be available to 100% points and their effective price in Colons. Offers in Colons are also worth in points.

2. Before making a purchase, the buyer should always be identified (for half of the membership letter) to the salesperson like member of the RET. The salesperson controls the buyer's identity (by means of another document of identification). The membership letter should be signed and not expired.

3. The transactions among members are voluntary. The RET is not responsible for the quality, the punctuality, guarantees or any other one problem that arises to the root of goods and services marketed for members of the RET, including (but not being limited to) the following ones cases: to not have completed a sale leaf after having signed it, products or services of low quality, she/he doesn't surrender of products or services according to the stipulation in the contract between the two Members and unjust prices. Members should apply the same diligence in their transactions, independent if she/he is carried out with colons or with points.

4. Members of category A (enterprises) can deposit " points " in those bills of Members category B (particularly people: employees, clients etc.). The cost of these transfers is similar to that of a purchase of a product or service (sees C.4.).

B. Behaviour of the Member toward the RET

1. The Member is responsible for the taxes to pay on his sales and utilities in points. Members should consult their fiscal adviser on those implications of the transactions in points. Under any circumstance, the RET is not responsible for fiscal problems that a member suffers the one root of their transactions through the RET.

2. A Member that surpasses his credit limit can not make more purchases and she/he should sell their products and services until the balance returns inside of the established limit. According to the decision of the Committee of Credit, the member it can be forced to pay this credit excess in Colons. A Member with a negative balance (i.e. that has bought more than she/he has sold) is required to accept offers of purchase of their products or services at the normal price.

3. The member that has a positive balance of more than 2 (two) times its credit limit and feels that it has accumulated more points than it can spend, can request the RET the status "on hold". This status implies that the Member can reject purchase offers, while it looks for ways to spend this excess of points. A listing of Enterprises "on hold" will be published every 3 months in the bulletin of offers and demands. The status "on hold" enters in validity starting from the moment that the Committee of Credit of the RET communicates their decision in writing to the member.

5. Members can only buy when the credits in their account allow or when the Committee of Credit of the RET has approved lines of credit to the member.

6. For the salesperson's protection, all the purchases of Members category A (Enterprises) with a value bigger than 200 Colons should be directed to the RET for approval of the transaction. The salesperson calls to the administrator of the RET that verifies the buyer's balance. In case that the balance is enough, the Administrator gives an authorization number the which is filled in the Sales receipt. The purchases of Members category B (individuals) should always be authorized. If the salesperson sends a Sale' receipt without authorization (although it should have one), the RET always registers the transaction, except for if the balance or the credit limit of the buyer it is not enough. In these cases the possible loss is assumed by the Salesperson.

7. When the member conducts a transaction, the salesperson it fills in having triplicated the "Sales Receipt Book" provided by the RET. The orginal should be sent to the RET; the second copy is for the Salesperson; the Buyer receives the thirdcopy.

8. All the sale leaves should be sent to the RET inside 7 (seven) days of the moment of the purchase so that the RET can maintain its modernized accounting. In case a member considers that the information in a sale leaf or their monthly state of bill is incorrect, the Committee of Credit of the RET will consider all the facts and make a decision based on these facts.

9. The members are entitled the of canceling their membership in any moment by means of written communication to the RET. The closure of account will be effective 15 (fifteen) days after the RET has received the communication. To the moment to give up, the Member agrees:

A. to pay any negative balance that should inside the RET cash of fifteen (15) days of effective date of the renouncement.

B. To spend the positive balance in goods and available services to inclination of the RET inside 90 (ninety) days from the effective date of the it gives up. If the Member has not spent his positive balance inside the 90 days, the RET will absorb the balance.

These same rules will be applied if the membership of a Member is terminated by the RET because of the violation of any rule, regulation or procedure.

10. Members that have not paid their service fees, monthly quota or commission within 30 (thirty) days after the monthly warning will be considered as debtors. An interest rate of 5% (five percent)monthly it will be applied on the total of the amount in debt. The minimum of charge for back payment 50 Colons monthly. Also the use of the accounts of the late Member it can be suspended.

11. Members that have not paid their fees inside 60 (sixty) days from the day of the communication, will be subject to the cancellation of their membership.

12. In the case that the RET is forced of taking legal actions against a Member to assure the execution of the present Regulation, the RET will be entitled the of recovering all the procedural costs and of lawyer related with the case, as well as the whole balance that the Member owes - in Colons and in points (a point being same and equivalent and to a Colon in cash), together with the interest on the negative balance of 5 monthly%.

13. In the event of an infraction of the Agreement of Membership, the Member is responsible for the procedural costs, of lawyer and of interests.

C. Behaviour of the RET toward the Member

1. The RET will send the Member a note written on the limit of its credit, to the maximum seven (7) days after the decision of the Committee of Credit.

2. The RET can request reports to specialized agencies on those credit antecedents of the Company that requests a credit in points.

3. The RET will send a Statement of Account monthly, of those transactions carried out during the month and of the positions, quotas and commission to pay.

4. The cost of normal transaction is of 5% about the net value of the transaction. The buyer and the salesperson share the cost of this 5%. The amounts is payable in colons. If the amounts accumulated total sold through the RET is bigger than 30,000 points during the last 12 months, the RET will reduce its cost of transaction from 5% to 4%; if it is bigger than 50,000 points, the rate will be reduced to 3%. Members with sale volumes (in points, through the RET) that exceed the 75,000 points on the past 12 months, pay a service fee of only 2.5%. The transaction charge will fix again every month for each Member based on their sales of the 12 previous months. In the period of promotion they receve special rates.

5. Members that authorize the RET to discount automatically the positions, quotas and commissions of their account or credit letter every month will receive a negotiable discount on the rates mentioned in point 3.

6. To stimulate trade, the RET charges a negative interest rate of 1% (a percent) monthly on the credits. This way purchasing is stimulated and hoarding is discouraged. The calculation of the interest is made based on the biggest credit that shows the bill in every month. The interest one usually pays in colons. In the period of promotion, the interest is paid half in points and half in colons. On debits interest is not paid.

7. The RET reserves the right to investigate complaints from members about those salespersons who increase the price in points above normal, or charge an additional amount in colons. Infractions can result in an immediate adjustment of those transactions or the termination of the salesperson's membership. Three infractions of this rule can result in the termination of the membership.

8. The membership to the RET will be renewed automatically every year, except if the Member communicates his/her intention to close his/her account in writing (registered mail) less than sixty (60) days before the expiration of the annual membership.

9. If a Member of category A (Enterprise) doesn't carry out transactions for 6 months, the account enters a dormant status. This status is published in the quarterly bulletin. RET reserves the right of no longer sending those Monthly Account Statements to dormant Members. If the bill is inactive during 12 months, the membership will be finished immediate and automatically according to the conditions and procedures described in article B.9.

10. The RET reserves the right of modifying the present regulation if him it considers necessary and favorable for the operation of the program of Exchange.

11. Each term and provision specified in the Agreement of Application and this Internal Regulation is independent. If a term or provision is considered invalid, illegal, or not obligatory, decision is it won't affect the validity, the legality and the obligatory character of the rest of the terms and provisions.