Member Agreement

Subject to common definitions and provisions and in consideration of the mutual covenants and warranties contained herein, the person (Account Holder) executing this agreement, and United Precious Metals Association (“UPMA™”), a Limited Cooperative Association operating on a non-profit basis for the benefit of its members, hereby agree as follows:

Contributions. Account Holder may make contributions to UPMA™ by tender of Paper Dollars for conversion into Gold Dollars or Silver Dollars as instructed by Account Holder by means of Dollar Cost Averaging. Once converted through escrow Account Holder contributions shall be held in trust for Account Holder’s benefit. Gold and Silver dollars deposited are treated differently than ones purchased through our system. Members that have deposited specie legal tender may be subject to a fee when redeemed for paper dollars. See the fee schedule for more details.

Deposits. Account Holder may make Specie Legal Tender deposits to be held in trust for the benefit of the Account Holder. Constitutional Silver Dollar (CSD) deposits shall be converted to Silver Dollars (SD) at a rate of $1.50CSD to $1.00SD nominal face value.

Bailments. Account Holder may offer bullion for conversion into Specie Legal Tender deposits to be there held in trust for the benefit of Account Holder. Silver bullion bailments shall be converted to Silver Dollars and gold bullion bailments shall be converted to Gold Dollars at the then current Fix Rate.

Exchanges. Account Holder may exchange Gold Dollars for Silver Dollars and visa versa at the then current relative Exchange Rate. Exchanges in excess of the Monthly Threshold shall be assessed an Exchange Fee as set forth in the Fee Schedule.

Withdrawals. Account Holder may withdraw Gold Dollars and/or Silver Dollars from to the extent of the Account Holder’s available Account Balance, in minimum 50 Gold Dollar or 1 Silver Dollar increments. All shipping costs and related charges as set forth in the Fee Schedule shall be assessed against the Account Holder’s Account Balance.

Redemptions. Account Holder may redeem Specie Legal Tender holdings for Paper Dollars at the then current Exchange Rate for placement on Account Holder’s debit card, or for payment by check, ACH or wire transfer. Redemptions in excess of the Monthly Threshold or redemptions of prior Deposits shall be assessed a Redemption Fee as set forth in the Fee Schedule. Redemption requests shall first be applied against any unredeemed Deposits before being applied to unredeemed Contributions.

Sales. Account Holder may sell or buy goods and services to or from other UPMA™ Members in exchange for Specie Legal Tender.

Escrow Agent. Escrow Agent shall provide all escrow and trust services necessary for Account Holder contributions, deposits, bailments, exchanges, withdrawals, redemptions or sales, which shall be processed by Escrow Agent as soon as practicable. However, Escrow Agent shall not release monies out of escrow or trust without adequate collateral that have not been fully cleared by the financial institution from which they originated. ACH transfers and personal checks can take up to 60 days to clear. Other types of transfers may be similarly delayed.

Vaulting & Insurance. All Specie Legal Tender held for the benefit of Account Holder shall be maintained in the care, custody and control of Escrow Agent, its contracted vaulting facilities, or common carriers, and shall at all times be fully insured against loss or damage.

Statements. UPMA™ shall provide Account Holder with access to on-line monthly statements denominated in Specie Legal Tender, including details of all transactions and fees affecting the Account Holder's Account Balance during the month.

Dividends and Rewards. Account Holders who qualify as UPMA™ members shall be entitled to such dividends, rebates and rewards as may be declared or authorized by the UPMA™ board of directors from time to time to be credited to the Member's Account Balance in Gold Dollars in an amount no greater than the aggregate dues, fees and other charges assessed against the Member's Account Balance.

Voting Rights. If Account Holder qualifies as a UPMA™ Member, Account Holder shall enjoy such association voting rights as may be set forth, now or in the future, in the organic rules of UPMA™.

Privacy Policy. Account Holder agrees to the terms and conditions of the UPMA™ Privacy Policy..