FEC Terms and Conditions

Terms and Conditions of dealing with Fractal Economy Co-Operative Ltd (the Co-Operative).

Rights and responsibilities, terms and conditions, of being an Individual Member
Individual Membership is given only to individuals.
The Co-Operative has no joint membership.
Incorporated entities must register as a Business Partner or Not For Profit Beneficiary. This is done by an existing Individual Member who is also an employee or authorised representative of the entity.
Individual Members may vote, raise petitions, and participate in meetings in any way that is allowed in the Co-Operative rules and policies.
Individual Members also vote on the allocation of gift funding to Not For Profit Beneficiaries.
The rules of the Co-Operative are available on request and will be provided on approval of application.
Applicants have a five day cooling off period to reconsider their membership.
If an Individual Member has signed on to be tax payer within the Co-Operative; and if another Individual Member has made a purchase from them; and the buyer then declares their membership; the seller must take all reasonable steps to notify the Co-Operative of the sale using the methods endorsed by the Co-Operative.
Currently, this is primarily through the Co-Operative’s transaction tax app.
The Co-Operative will notify members of any changes or additions to its tax collecting methods.
Sellers may decline to register a sale if the value of the sale is less than twenty dollars ($20).
If a tax-paying member has opted to pay a higher tax rate, they may advertise their membership with a ‘star rating’. A 4-star member pays 4% tax; a 5-star member pays 5%, etc.
The Co-Operative will help with logo display to this end.
A 3% tax rate is the minimum.
Members may adjust their tax rate and star rating at any time – taking effect at the beginning of the next month.
Tax payments are billed monthly and the terms are 30 days.

Rights and responsibilities, terms and conditions, of being a Business Partner
Business Partners do not have voting rights within the Co-Operative.
Only Individual Members have voting rights.
The rules of the Co-Operative are available on request and will be sent along with approval of your partnership application.
You have five days to reconsider your application after approval.
If a Business Partner has signed on to be tax payer within the Co-Operative; and if another Individual Member / Business Partner / Not-for-Profit Beneficiary has made a purchase from them; and the buyer then declares they are an Individual Member, Business Partner, or Not-for-Profit Beneficiary by providing their respective ID number; the seller must take all reasonable steps to notify the Co-Operative of the sale using the methods endorsed by the Co-Operative.
Currently, this is primarily through the Co-Operative’s transaction tax app.
The Co-Operative will notify ndividual Member / Business Partner / Not-for-Profit Beneficiaries of any changes or additions to its tax collecting methods.
Sellers may decline to register a sale if the value of the sale is less than twenty dollars ($20).
If a Business Partner has opted to pay a higher tax rate, it may advertise its Co-Operative affiliation with a ‘star rating’.
A 4-star trade partner pays 4% tax; a 5-star trade partner pays 5%, etc.
The Co-Operative will help with logo display to this end.
A 3% tax rate is the minimum.
Business Partners may adjust their tax rate and star rating at any time – taking effect at the beginning of the next month
Tax payments are billed monthly and the terms are generally 30 days.
The board of directors reserves the right to cancel a Business Partner's status if it:

  • does anything which brings the Co-Operative into disrepute
  • does not pay any dues owing for an extended period

The board may, at its discretion, refuse any application for Business Partnership.

Rights and responsibilities, terms and conditions, of being a Not-for-Profit Beneficiary
Not-for-Profit Beneficiaries of the Co-Operative do not have voting rights within the Co-Operative. Only Individual Members have voting rights.
The rules of the Co-Operative are available and will be sent to you on request and on approval of your application.
You have a five day cooling off period to cancel your Not-for-Profit Beneficiary application.
Not all Not-for-Profit Beneficiaries will qualify for gift recipient partner status with the Co-Operative, e.g. football clubs. Only some incorporated associations will qualify.
All Not-for-Profit Beneficiaries who quality are required to undertake a financial audit or review every year as a matter of course. The Co-Operative may or may not request such a report.
All Not-for-Profit Beneficiaries have a tax-free status in the Co-Operative.
The Co-Operative, being a new organisation, is still working on clarifying and defining the criteria for gift recipient status.
The founding board of directors considers these examples to be eligible organisations and activities:

  • Schools and educational institutions - private (not-for-profit) and public.
  • Scientific and religious institutions
  • Environmental and social justice organisations (including say protest groups of coal mining projects and coal seam gas fracking)
  • Women’s refuges, soup kitchens, etc
  • Neighbourhood centres, ‘Men’s Shed’ and similar
  • Community music and arts festivals
  • Not-for-profit media

Individual Members are free to question decisions, or make suggestions to the board regarding gift recipients eligibility.
Individual Members may also start a petition to make formal policy changes to the Co-Operative’s criteria on this issue. We are a direct democracy-based organisation.
Allocation of gift money to gift recipient partners is decided by direct voting of the Individual Membership.
Any Business Partner or Not-for-Profit Beneficiary of the Co-Operative is free to advertise its relationship with the Co-Operative, particularly with the use of the Co-Operative’s logo.
No entity which is not a registered Business Partner or Not-for-Profit Beneficiary may use the Co-Operative’s logo or make any claim or suggestion of a Co-Operative relationship.
The board of directors may, at its discretion, refuse an application of a Not-for-Profit Beneficiary.
The board also reserves the right to rescind a Not-for-Profit Beneficiary status if it does anything which brings the Co-Operative into disrepute.
The board may do the same if it reconsiders that an organisation does not fall within its criteria.
This may follow non-board members’ input.