In America there is such a transaction between persons who are members participated in the transaction as the first party and its organizers as the second party. This transaction contains.
1). The Company will issue cards that contain numbers and names of participants, in which a person can use this card at various places of business (merchant) to pay for items purchased. Similarly to the payments in restaurants and hotels. Also able to buy a plane ticket from the airlines, and others. Furthermore, the parties attract a fee to use this card will send the billing details to the company that issued the card, then pay the bill for card holders.
2). At the end of the month, the company that issued this card will give a report to the card holder and ask him to pay the entire bill should he pay for a month and bills are also paid by the owner of the company to trade places.
3). Companies that issued the card also asks the cardholder to pay the bills he had to pay for 1 month takes place in a maximum period of 15 days from the date of delivery fakir bill. If he does not pay for a period of 15 days, then the company will send invoices for the second time with the same bill and the nonpayment of the additional value of 10 dollars, as late fines. And if after this second invoicing cardholders not to pay it off, then the company will send you an invoice for the third time and final time, and asked him to pay off bills with additional funds worth 2.5% of the bill as late fees, as the company also will cancel the agreement and draw cards in this object.
4). The period of agreement lasts for a year. For card holders must pay annual dues of 30 dollars as an entry fee and the issuance of cards for him.
5). Payment of the invoice that is sent in the form of U.S. currency (dollar). If a cardholder uses the card outside the U.S., the company will submit invoices in the form of U.S. currency. It’s a way to move the bill in the form of foreign currencies into U.S. currency (dollar). And the exchange rate used is the exchange rate on invoices sent to him, not with the exchange rate on the card used to purchase outside the United States. And the company also requested that the card holder to pay the bills with dollars with an additional 1% in value, as the cost of transfers and currency exchange.
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