Cancellation Policy

Trust, fairness, mutual respect and win-win outcomes are the foundation of successful swaps.

In the rare instance that a trade goes awry, the following policy applies to protect the members engaged in that exchange.

HELPFUL DEFINITIONS

Barter Arrangement entails the trade terms mutually agreed upon by the two parties engaged in an exchange via Swapsity B2B.

Business Swapper Etiquette refers to shared community values and guidelines for Swapsity B2B.

Breaching Party is any party or parties who:

• Violate the terms of the Barter Arrangement;
• Breach the Business Swapper Etiquette;
• Withdraw from the Barter Arrangement prior to fully completing the service exchange with the other party;
• Delay the delivery of the agreed deliverables (by more than 15 days past agreed timelines).

Injured Party refers to the party hurt by the actions of another trading party.

ONGOING TRADES EXCEPTIONS

If you accept a trade, you are obligated to complete the transaction and fully perform the agreed upon exchange with the other party unless:

• The two parties jointly agree to extend the timelines of their trade or timelines for deliverables outlined in the Barter Arrangement;
• A force majeure event occurs that makes it impossible for one party to perform the duties of the agreement;
• The original Barter Arrangement is void or the contract is nullified;
• The trade is cancelled at the discretion of Swapsity B2B.

INCOMPLETE TRADES

Both bartering parties are obliged to complete their barter within set timelines, as they have agreed. However, in rare circumstances, when one party (the "Breaching Party") violates the Barter Agreement and/or the Business Swapper Etiquette prior to fully completing the service exchange for the other party (the "Injured Party"), the Cancellation Policy applies. Parties may select between Option 1 (Equalizing the Exchange) and Option 2 (Choose Your Own Solution) to resolve an unfinished trade and "tie up any loose ends". Option 1 is the default.

Kindly note that in the event a trade is cancelled, interrupted, breached, or nullified after accepting the final Barter Arrangement by both parties, our service fee is non-refundable.

However, if Swapsity B2B exercises its right to cancel a trade, the service fee will be refunded to both parties.

OPTION 1 - EQUALIZING THE EXCHANGE

Scenario 1: Between a Breaching Party and an Injured Party

When a swap is halted prior to its completion or the terms are breached, both parties have these three responsibilities:

1. Promptly inform their fellow swapper and Swapsity B2B.
2. Reconcile any value discrepancy at the time of cancellation. If the dollar value of services exchanged thus far is unequal, the party owing the service will equalize the exchange in barter being the first resort (since the transaction was initiated in barter), or otherwise in dollars.
3. The Breaching Party will compensate the Injured Party by refunding the service fee (on a pro-rated basis) in cash or, if the Injured Party agrees, in barter. For instance, if half of the trade was completed, the Injured Party will receive half of the service fee value from the Breaching Party, to compensate them for the deficient part of the trade.

Scenario 2: Between Two Breaching Parties

When a trade is breached by both parties, the parties have these two responsibilities:

1. Promptly inform their fellow swapper and Swapsity B2B.
2. Reconcile any value discrepancy at the time of cancellation. If the dollar value of services exchanged thus far is unequal, the party owing the service will equalize the exchange in barter being the first resort (since the transaction was initiated in barter), or otherwise in dollars.

Both Breaching Parties agree to complete the above responsibilities towards the other party within 30 days of the cancellation.

Scenario 3: Nullification, Void Contract or Force Majeure Event

When a trade is void, nullified or a Force Majeure event occurs, the parties have the responsibility to:

1. Promptly inform their fellow swapper and Swapsity B2B..
2. No further responsibilities towards each other. The incomplete trade is left "as is".

OPTION 2 - CHOOSE YOUR OWN SOLUTION

Alternatively, both parties may elect to mutually agree to settle an unfinished trade in their own way. There needs to be mutual consensus, and the final resolution must be clearly communicated to Swapsity B2B by both parties in writing.

EXAMPLE

John and Jerry agree to trade $1,000 worth of design services for consulting services. Halfway through the trade, John informs Jerry that he is unable to complete the entire trade as originally agreed. At the time, John has offered $500 worth of design services and Jerry provided $600 worth of consulting services. Both paid a service fee to Swapsity B2B for facilitating the exchange. As per our Cancellation Policy:

• John informs Jerry and Swapsity B2B about the unplanned cancellation
• John promptly offers Jerry $100 in design services on barter or in cash to make up for the difference in the trade value. Both parties issue an invoice to each other for $600 instead of $1,000.
• John refunds Jerry 40% of the service fee in cash or, if Jerry agrees in barter.

ENFORCING

We take any barter breaches seriously and may suspend membership in the instance of failure to honour our Cancellation Policy or Business Swapper Etiquette. Thank you for your cooperation.

Last Updated January 29, 2016.