Absolutely without any kind of prejudice, these behavior norms represent the contract between Crom Alternative Currency System and all those who are, in desire for participating in creation of a new sustainable cooperative economy, voluntarily becoming its members, thus accepting it as a business entity.
Crom Alternative Currency System is a sovereign worth appraisal and exchange system, actively developed by Crom Alternative Exchange Association as a social network and payment system - all in one. Crom Alternative Currency System is an electronic platform - an institutional and a referent communication point without any territorial limitation, through which Crom Alternative Currency is issued, and records of account balance of all members and their mutually performed exchanges are kept. The system is completely independent of any national or political coloration, and is an indivisible unit that belongs to the whole community except unverified members. The main purpose of the system is to serve the community, not to be served by the community. Under the name "the Administration", Crom Alternative Exchange Association is responsible for the management of Crom Alternative Currency System.
Crom Alternative Currency is a reorientation from concept "money - debt" to concept "money - property"; crom's value is not created by those who issue it, but by those that accept it by agreement. At the moment of its creation, crom currency is owned by the whole community, with exception of non-verified members. In circulation, crom is a property of the bearer. Crom is officially defined as an econometric symbol accepted exclusively on a voluntary basis, which simultaneously represents both a value of the measure and a measure through which worth appraisal of various goods, products, resources, services and activities is expressed.
1 Crom = Gold 0.0001634 ozt + Silver 0.01 ozt + Platinum 0.00012462 ozt + Palladium 0.00038096 ozt + Rhodium 0.000085 ozt
This money system functions in a way that total quantity of money in circulation corresponds to overall quantity of products and services in circulation. In it there are no interests-bearing debts, and because of that total debt is never higher than overall amount of money in circulation. Since by definition crom's value instead of being based on a relationship with any official national currency is based on a combination of fixed quantity of five precious metals incorporated in one basket, crom’s purchasing power is immune to national monetary policies, global financial trends and inflation.
Non-verified members are all duly registered participants - with limited permissions, who operate in good faith and in accordance with the rules, but did not confirm their identity in a required manner.
Verified members are all duly registered participants - with full permissions, who have verified their identity according to a specially designed manner, and that operate in good faith and in accordance with the rules.
A Crom Broker is a member who works to promote the idea of this alternative currency. He can register new members whose privacy he is obliged to protect. For his efforts, for a specified time period, he receives compensation in the form of commissions on the financial activities of the members he registered in the system.
Crom Currency Exchange is an integral part of the worth appraisal and exchange system, through which the exchange of US dollar ($) and Euro (€) currency into Crom Alternative Currency is performed, and vice versa.
Crom Interest Free Loan is any type of borrowing from Crom Alternative Currency System, on which interests are not charged.
Operative Reserve Account is a fund whose presence is vital for purposes of covering all costs of efficient functioning and further active development of worth appraisal and exchange system. The assets of the fund derives from charge of monthly member account maintenance costs, verification of members, administrative expenses of granting interest-free loans, abandoning of member’s accounts with positive balance etc.
Annual Dividend Payment is an amount equally distributed among all participants within the system, apart from non-verified members, that depending on the conditions of the Operative Reserve Account is received in January of each year.
Crom Marketplace is a place where in the form of ads demand meets supply of goods, commodities, products and services; market on which the members are selling, buying and bartering.
Notice Board is a place where all information related to Crom Alternative Currency System is published.
The information that you submitted during registration and information that you communicate to other members, as well as your activities associated with the system, including but not limited to the content of your website, your exchanges, demand and supply of products and services; shall not be of fraudulent or illegal nature, misleading, false or inaccurate.
By registering on Crom Alternative Exchange Association website, you become a user of these web pages with access to publish content on the forum and alternative news.
Through the registration in Crom Alternative Currency System, you become a member of that system.
One human being is allowed to open only one account of the "Man" type.
By registering to Crom Alternative Exchange Association, you become a member of the association. "Application for Membership in Association" is available here, or inside Crom Alternative Currency System - in the main menu on the left side under the section "Personal Documents".
The Administration of the system will not share, sell, rent or otherwise disclose your personal information to anyone, without your prior consent.
All personal data is collected in good faith and is used only for contacting members to ensure their efficient use of all enabled functions.
The system uses SSL technology to prevent theft and interception of information flow.
Your presence in Crom Alternative Currency System must not:
- involve the sale of stolen and falsificated items,
- contain and promote child pornography content,
- create liabilities for Crom Alternative Currency System and Crom Alternative Exchange Association, or impair its goodwill through and not limited only to the violation of these rules, including tampering, hacking and modifying or otherwise attempting to compromise security and functioning of services that the Association and the System offer.
Participants in worth appraisal and exchange system guarantee to System Administration right on investigation in cases in which there is a reasonable doubt that one or more members are violating agreed rules.
Members are obliged to inform the Administration of any changes of personal data that is submitted during the registration process in the shortest time period possible.
Members agree that System Administration can accept an electronic or faxed signature as original.
Each notification on the line system-member and vice versa is considered valid if it is delivered personally, via mail, fax or via message system inside worth appraisal and exchange system, on a number or address stated in the member's register of Crom Alternative Currency System.
Value Ratio And Exchange Rate Of Crom - US Dollar, Crom - Euro
Although the definition of Euro currency is missing key information about who its owner is and how much of what euro is worth or what value it represents - a similar situation also applies to US dollar - with good intentions and in good faith, through Crom Currency Exchange is established an official value ratio between crom and euro and dollar currency.
Official exchange rate between crom and euro or dollar, and vice versa - is determined by the price expressed in dollars or euros for the basket of precious metals that represents a fixed value of 1 crom.
Money exchange functions on a principle of availability – if the system does not dispose of enough amount of requested currency, the exchange of money can not be done.
Economic Justice, Exchanges And Advertisements
All members are obliged to act in the spirit of economic fairness.
No member is obliged to accept any invitation of other participants to exchange products and services, or participate with them in any kind of transaction.
Members of the worth appraisal and exchange system are not required to express the prices in their ads only in crom currency. The medium of exchange is a matter of personal free choice.
Crom Alternative Currency System is a sovereign worth appraisal and exchange system that is not, and does not represent, any part of any sort of some other national or international monetary-financial system.
In all exchanges which are not made through Crom Alternative Currency as the medium of exchange, any personal tax liabilities of the members are solely their responsibility. Crom Alternative Currency System is not in any way connected with the tax authorities, and has no obligation to them nor can or accepts to collect taxes on their behalf.
The role of Crom Alternative Currency System is to facilitate exchanges between members.
In all exchanges carried out through Crom Alternative Currency as a means of exchange, except when it comes to cases in which the communities duly registered in Crom Alternative Currency System condition a membership within this system to something similar, no one in any way has any right to impose any kind of tax levies on anyone.
Members are entirely responsible for maintaining the confidentiality and security of their passwords, and for everything that takes place in the system under their password. Members agree to immediately notify the Administrator of the system for any unauthorized use of their password or account, and are committed to properly get out of each section that requires security steps protected by a system scheme.
System Administration is not responsible for any loss or damage arising from your failure to comply with the above-described.
The role of Crom Alternative Currency System is to facilitate exchanges between members. Your trades, exchange agreements, purchase contracts, transactions and deliveries are entirely your responsibility, including the quality of products and services offered, and their compliance with the standardization norms.
Transferability Of Rights And Obligations
Membership, rights and obligations are not transferable from one to another member of Crom Alternative Currency System.
As only real producers of real values – united in community through Crom Alternative Currency System, member give to System’s Administration rights to expand credit offer in the form of Crom Interest Free Loans – to any participant who during the process of analyzing credit application is evaluated as capable to return the entire amount requested. System Administration is not in any case obliged to approve Crom Zero Interest Loan.
If borrower stops paying Crom Interest-Free Loan, pursuant to arranged loan terms, guarantee mechanism is activated and System Administration inserts loan collateral – on which borrower no longer has any ownership right - in sale offer on Crom Marketplace. From the price paid by the buyer - a new owner, amount equal to already paid loan rates is transferred into account of the previous owner and the rest is returned into System Account.
In initial development phase, Crom Alternative Currency System is not obliged to keep convertibility between Crom Alternative Currency and its reserve assets in form of precious metals.
Members agree that accounts that have positive balance in Crom Alternative Currency do not represent any form of obligation of Crom Alternative Currency System towards them, but their right to receive products and services offered by other members that accept crom as a means of payment.
Members agree that accounts with negative balance represent their obligation to sell products and services to other members, or to exchange dollars or euros into crom currency amounting to such account deficit.
In any case in which member fails to meet his financial obligation generated through use of Crom Alternative Currency, his obligations become payable in combination of five precious metals that represent crom’s fixed value, or any suitable equivalent countervalue decided in subsequent judicial dispute or mutual agreement between two parties.
Amicable Dispute Resolution And Arbitration
Between members, in a case of default of one or both parties, and for any litigation arising from the breach of contract or its cancellation, the contracting parties shall recur to an Amicable Dispute Resolution (ADR) Center, or to an Arbitration Center previously agreed in their contract - which shall act in accordance with the Rules of Arbitration of International Chamber of Commerce.
Termination Of Membership
Members of Crom Alternative Currency System may terminate membership for various reasons.
The process of termination of membership:
- The member is obligated to bring the positive balance of his account to zero within 100 days after submission of the written request for the termination of membership. The member can do this by purchasing products and services of other members. Crom Currency Exchange reserves the right to refuse to exchange crom currency for the dollar or euro currency. After the expiration of 100 days, a member loses all rights to a refund, his account closes and his balance is automatically transferred to Operative Reserve Account.
- The member is obligated to bring a negative balance of his account to zero within 45 days of filing a written request for the termination of membership. The member may do so by selling his own products and services, or by exchanging the dollar or euro currency for the crom currency. After the expiration of 45 days, his obligations become payable in combination of five precious elements that represent crom's fixed value, or any suitable equivalent counter-value decided in subsequent judicial dispute or mutual agreement between two parties.
By the decision of the System Administration, membership may be terminated only by a fair and reasonable process conducted in good faith. The Administration is required to notify members of the decision in a written mode, at least 20 days before the date fixed for the termination of membership. The member has the right to file a complaint to the Administration, at least 10 days before the date fixed for the termination of membership. Administration's decision on the appeal is final and no court may reverse it.
Depending on the type and severity of the violation of the rules, member account login and all other functions may become frozen; his assets can be returned to the initial payment accounts, or the balance of his account can be transferred to the Operating Reserve Account.
As responsible Administrator of Crom Alternative Currency System, only Crom Alternative Exchange Association has a right to modify these terms and conditions of use. Aforementioned modifications and amendments have to be communicated to all participants via internal messaging system of worth appraisal and exchange system and published on Association Notice Board. After 30 days, modifications become effective and are considered as accepted by all participants that had not requested termination of their membership in precedent 30 days.
In case of any dispute between members and System Administration that can emanate from details not covered by this contract in which entering into is based exclusively on a voluntary basis, the contracting parties shall recur to an Amicable Dispute Resolution (ADR) Center, or to an Arbitration Center which shall act in accordance with the Rules of Arbitration of International Chamber of Commerce.