Constitution of the Global Digital Currency Association
This constitution functions as a contract among the
accredited members of the GDCA
Part 1 Name, Objectives and Purposes
- (a) The name of the association is the Global Digital Currency Association (“GDCA”).
- (b) The URL (or web address) of the organization is:
The objectives and purposes of the GDCA are:
(a) To foster, promote and develop fellowship and mutual aid of the GDCA members and listed business within the framework of this constitution;
(b) To establish communication and understanding among the members of the GDCA and members of other communities;
(c) To promote and sponsor educational activities that alert and teach the general public about the benefits of digital forms of money;
(d) To assist businesses to use digital currencies as a medium of exchange by way of distribution of information and other services deemed necessary;
- (e) To promote and maintain the highest professionalism among its members;
- (f) To use the influence of the combined membership body of the GDCA to bargain for goods and/or services for the benefit of the members.
- (g) The activities of the GDCA shall be politically non-partisan and non-sectarian;
- (h) Whenever possible, the GDCA will encourage its members and listed businesses to settle their disputes amicably. The GDCA may decide not to interfere in certain disputes (even if called upon to act), especially where, in the judgment of the officers, the GDCA considers its intrusion to be detrimental to the global digital currency economy in general or where the GDCA lacks the proper knowledge, experience or qualifications to render an informed judgment. However, the GDCA may refer to experts in a particular field to aid in making judgments;
- (i) The GDCA will act to ensure integrity in commercial transactions between its members and listed businesses and the general public.
The GDCA will also act as arbiter of disputes arising among its own members, as well as disputes arising between members of the GDCA and listed businesses:
- When a member or listed business of the GDCA has a bona fide dispute with another member or listed business, the member may petition the GDCA to initiate a mediation process. Mediation may take place by e-mail, phone, or in person. If mediation is not successful, an affected member may apply to the GDCA for a binding arbitration process. Such arbitration, if approved, will be carried out by the Auditing/Investigating Committee.
- Upon a finding for either party by the Auditing/Investigating Committee, the Committee will issue a ruling consistent with the findings of fact. The decision of the Auditing/Investigating Committee may be appealed to the President of the GDCA within 10 business days for a re-hearing and re-consideration.
- All parties must abide by the final ruling of the President. Failure to abide by the final decision of the GDCA under Sec. 2(i)2, may cost the offending party up to 10 points per incident.
- (j) The GDCA will not interfere in minor disputes among its members or listed businesses. The officers have full discretion in deciding which disputes are minor and whether or not to grant mediation or binding arbitration services;
- (k) This constitutional agreement among the accredited members of the GDCA will take force upon each member’s signature and payment of proper consideration. This constitution may not be modified except with the unanimous agreement of the member body and any proposed modification must first be disseminated to each member of the GDCA for public comment for not less than 1 month before amendment.
- (l) Financial statements of the GDCA shall be disclosed to any accredited member at his request. Non-members or listed businesses may be charged a fee for this service.
Part 2 Governance of the GDCA
The governance of the GDCA shall rest with its officers.
- (a) The strategic goals of the GDCA will be managed by the President, who will be appointed by the shareholders of the GDCA. The President will resolve disputes, if any, among the officers of the GDCA. In order to ensure the smooth managerial operation of the GDCA, the President will have the authority to hire and fire officers, and will be responsible for resolving internal disputes within the GDCA.
- (b) The President will be responsible for appointing individuals to Committees as he deems proper.
- (c) Until GDCA membership exceeds 100, from among which at least members, whom the President considers suitable, indicated their willingness the serve on Committees as further mentioned below, all officers of the GDCA are automatically deemed to be members of a standing Committee, tasked with fulfilling all the duties of the Committees mentioned elsewhere.
- (d) Decissions of the initial standing Committee, of which the President himself is the Chairman, are made by single majority vote and are binding, even if the majority vote opposes the view of the sitting President
- (e) The President will be responsible for dispute resolution among Committee members with regard to GDCA functions, and will cast the deciding vote when the standing Committee outlined in 3(c) and further defined in 3(d) is deadlocked.
- (f) The GDCA junior officers will consist of Vice-Presidents and a Treasurer. Junior officers will answer to the President.
- (g) Should any officer be found to have behaved to the detriment of and brought substantial disrepute to, the GDCA, by way of a dishonest act or acts, they will be immediately removed from their position and lose not more than 25 points, and pay a fine of not more than 10.00gg, and be banned from serving in a managerial position in the GDCA for not more than 3 years.
- (h) In cases of possible conflict of interest during the course of a Committee function or process, the affected Committee member will recuse himself from the functions of the Committee for the duration of that particular function or process.
The Auditing/Investigating Committee.
- (a) The Auditing/Investigating Committee will function as a fact-finding body only. It will, when applicable, conduct audits and/or investigations. The Auditing/Investigating Committee will not have any authority to add or remove points from members or listed businesses. Upon the completion of an Audit or Investigation the Committee will file a joint report with the officers of the GDCA who will decide on a suitable reward or punishment. A decision of the officers may be appealed to the president for reconsideration. If the president denies the appeal, the decision of the officers will stand.
- (b) Should any member or members of the Auditing/Investigating Committee be found to have behaved to the detriment of, or brought substantial disrepute to, the GDCA by way of a dishonest act or acts, they will be immediately removed from their position and lose not more than 20 points, and pay a fine of not more than 5.00gg, and be banned from serving in any official capacity in the GDCA for not more than 2 years.
- (c) In cases of possible conflict of interest during an audit or investigation, the affected Committee member will recuse himself from the functions of the Auditing/Investigating Committee for the duration of the Audit or Investigation.
Accredited members and listed businesses:
- (a) Listed businesses are those businesses that have come to the attention of the GDCA by virtue of their operating a commercial enterprise in the global digital currency economy and were added to the GDCA listings because they are important participants in said economy, and it would benefit the general public by listing them on the GDCA web site and having information available about their business practices and progress as it pertains to their integrity and customer service.
- (b) Accredited members are listed businesses (or individuals) who have taken a proactive first step in submitting to GDCA oversight of their operations by applying to the GDCA for accreditation and, after approval, placed a prominent and valid link to the GDCA on their home page so that their clients may view their operating history and business practices pertaining to integrity and customer service. A membership fee will be charged for the expenses of maintaining and updating an accredited member profile in the GDCA database.
- (c) Failure by any accredited member to pay the membership fee may result in temporary suspension of membership until such fee is paid. A penalty of up to 1.0gg may be charged every month that a membership fee is late. Nonpayment for more than 6 months may result in revocation of membership.
- (d) The membership fee may not be increased by more than 10% per annum for current members. This restriction does not apply to new members applying for membership for the first time.
- (a) Listed businesses may apply to the GDCA to receive accreditation. Generally, the GDCA may require that the applicant supply corporate papers and personal contact information (including, but not limited to, an address, telephone, etc.) to satisfy the GDCA that the applicant is engaged in a bona fide business with a valid URL, and is reachable by phone, fax, or e-mail.
- (b) If, for any reason, an applicant is denied accreditation, said applicant will be allowed to re-apply for accreditation no earlier than 1 month from the date of the denial of its accreditation.
- (c) Upon receipt of accreditation, the member will receive a link and small button to place, prominently, on its web site so that the accredited member’s clients may research the accredited member’s history, as pertaining to integrity and customer service, on the GDCA web site.
- (d) An application fee (in addition to a membership fee) may be set by the GDCA. The application fee must be paid with the completed accreditation application. Expedited applications can be processed (using fed-ex and prioritizing the decision process by the GDCA) for additional cost.
Accredited members will have the following responsibilities:
- (a) Members will conduct their business operations in a manner consistent with the constitution of the GDCA.
- (b) Not honesty alone, but the punctilio of an honor the most sensitive should be the standard of behavior for accredited members with regard to their commercial relations with the general public.
- (c) If applicable, members will abide by the GDCA binding dispute resolution contract that they may willingly enter into with their clients.
- (d) Should the physical address, website address, or telephone number, or other important contact information of a member be changed, the member is obligated to notify the GDCA within 14 business days of the change. 1. Failure to comply with Sec. 7(d) may, in the discretion of the GDCA, cost the member up to 2 points, and up to 5 points for subsequent violations.
- (e) This constitution is a contract between the GDCA members with each other and the GDCA. Intentional failure to follow the objectives and purposes of the GDCA constitution by any member may result in loss of membership until the GDCA is convinced that the individual or business will henceforward comply with the terms of the GDCA constitution. 1. The Auditing/Investigating Committee is in charge of investigating members under Sec. 7(e) and bringing its findings to the GDCA. 2. The final decision to revoke membership rests with the officers of the GDCA. The revocation of membership may cost the offending member up to 5 points and a fine, and the member will have to apply to the GDCA (and pay any applicable fees) if he desires, once again, to become a member.
- (f) Members will pay any and all membership fees and fines (if applicable). Failure to do so may result in suspension or loss of membership in the discretion of the GDCA.
(a) Members and listed businesses will be displayed, based on criteria
described in section 9, in a system of merit points. Additionally the
GDCA will award graphic plaques to further reward outstanding
performance of distinguished members and non-members alike. These
plaques, awarded independently of rating points are:
- Silver - Award, awarded to members known to be reputable and
trustworthy (display text: Trusted Member of the GDCA)
- Gold - Award, awarded to members known to be trustworthy, without any
reported or reputed valid customer complaints over a one year period
(display text: Trusted long-serving Member of the GDCA)
- (b) Newly listed businesses will initially receive 20 points upon
being entered into the GDCA database, and be issued a Silver plaque.
Upon the initial review of their respective sites by the Committee,
each Committee member may grant any new listee an additional three
points, which are then added to the new member's ranking during the
following monthly database upgrade.
Accumulation or loss of points (and movement up and down the categories or tiers). Points may be earned or lost in the following ways: Accumulation of points
- (a) Any member of the GDCA who operates his business for 1 month with a spotless record may receive 2 extra points. The points are awarded to all qualifying members automatically, pending a Committee review
- (b) Any listed and ranked non-member of the GDCA who operates his business for 1 month with a spotless record will receive 1 extra point. The points are awarded to all qualifying non-members automatically.
- (c) Any member of the GDCA who shows his commitment to the reputation of the industry, by resolving any complaints brought to the attention of the GDCA either by the public, or trough a formal complaint being filed with the GDCA, to the satisfaction of the investigating Committee, within 10 days after having been contacted by the GDCA, may receive 1 extra point per incident, pending the decision of the investigating Committee.
- (d) Compliance with Section 10(a) Depletion of points
- (f) Upon a finding by the Auditing/Investigating Committee of guilt of extreme unfairness or fraud by a member or listed business of the GDCA against the general public in the course of business, the GDCA may deduct up to 10 points from the member or listed business and issue a fine of up to 15.00gg, and up to 20 points for subsequent offenses and issue a fine of up to 25.00gg. Additionally, the listed business or member must pay reasonable compensation to the aggrieved party, to be set by the GDCA. Failure to pay compensation may cost the listed business or member up 5 points for every month of non-compliance.
- Guilt can only be established by the Auditing/Investigating Committee, and the record of the guilty verdict may, upon application to the GDCA, be wiped from the GDCA records if the applicant shows, to the satisfaction of the GDCA, that he was operating his business in a reputable manner for 1 year subsequent to the issuance of the guilty verdict. Any business under investigation may invoke the rights under Part 5, Section 11 of the GDCA constitution.
- A default judgment may be entered if the member or listed business does not respond to the inquiry of the Auditing/Investigating committee within 10 business days. The member will then have a 20 business day period to appeal a default judgment decision.
- In the event of extraordinary circumstances, the provision in Sec. 9(f)2 may be waived.
- (g) Upon a finding by the Auditing/Investigating Committee of guilt of extremely poor customer service by a member of the GDCA against the general public in the course of business, the GDCA may deduct up to 5 points from the member and issue a fine of up to 10.00gg, and up to 10 points for subsequent violations and issue a fine of up to 15.00gg. Additionally, the listed business or member must pay reasonable compensation to the aggrieved party, to be set by the GDCA. Failure to pay compensation may cost the listed business or member up 2 points for every month of non-compliance.
- 1. Guilt can only be established by the Auditing/Investigating Committee, and the record of the guilty verdict may, upon application to the GDCA, be wiped from the GDCA records if the applicant shows, to the satisfaction of the GDCA, that he was operating his business in a reputable manner for 2 consecutive years subsequent to the issuance of the guilty verdict. Any business under investigation may invoke the rights under Part 5, Section 11 of the GDCA constitution.
- 2. A default judgment may be entered if the member or listed business does not respond to the inquiry of the Auditing/Investigating committee within 10 business days. The member will then have a 20 business day period to appeal a default judgment d decision.
- 3. In the event of extraordinary circumstances, the provision in Sec. 9(g)2 may be waived.
- (h) In the event of non-compliance with the complaint resolution outlined in Sec. 9(b)ff points may be depleted automatically.
- 1. Any member or non-member who fails to satisfactory resolve complaints in a timely manner, may have 1 point deducted for each additional week during which a resolution is not achieved, beginning with the third week after the GDCA first contacted the member or non-member about any particular complaint.
- 2. In the event of the criteria outlined in section 9 (h) 1 are satisfied in several instances, simultaneously, the member or non-member may have 1 point depleted per week for each instance in which complaints remain unresolved.
- (i) Any intentional, unauthorized use (or misuse) by a listed business or member of the GDCA of the GDCA’s logos, trademarks, intellectual property, or good name may result, after an investigation by the Auditing/Investigating Committee, in a loss of up to 25 points and up to a 15.00gg fine for each instance.
Part 4 Dispute Resolution
- (a) Members or listed businesses may persuade their clients to agree to enter into the GDCA binding dispute resolution (“BDR”) contract. This option must be clearly stated on members’ or listed businesses websites. A member’s willingness to promote the GDCA and the global digital currency economy in general and streamlining the dispute process by entering into the GDCA binding dispute resolution contracts with his clients will earn him 5 points for every year that a dispute resolution agreement exists between the GDCA, its member or listed business and the member’s or listed business’ customers or clients.
- (b) In the event of a dispute between a member or listed business of the GDCA and its client who has agreed in advance to the GDCA binding dispute resolution contract, either the member or client may contact the GDCA and request an initiation of the dispute resolution process.
- (c) The Auditing/Investigating Committee will gather the necessary facts, and render a judgment.
- (d) Because the dispute resolution is a valid contract between the member or listed business of the GDCA and its client, the parties must adhere to the final judgment of the GDCA.
- (e) Should any member or listed business fail to adhere to a decision passed by the GDCA, that member or listed business may, in the discretion of the GDCA, lose up to 10 points and be fined up to 5.00gg.
- (f) Because the use of dispute resolution is considerably more efficient than other legal remedies, the GDCA recommends its use. Any member or listed business who wishes to enter into a contract with its clients to use the GDCA’s binding dispute resolution services may pay an annual fee to the GDCA (in addition to the regular membership fee). If the GDCA is called upon to officiate under the binding dispute resolution contract, the member will be required to pay actual expenses commensurate with the requirements of the binding dispute resolution process, to be agreed to in advance. A separate fee will be charged for dispute resolution services if the listed business or member did not opt to pay an annual fee under this section.
- (g) Any member or listed business that enters into a binding dispute resolution agreement with their clients will automatically be deemed to have requested a binding dispute resolution process upon any complaint to the GDCA from a client. This is beneficial because the alternative is an investigation for unfairness, fraud, or extremely poor customer service by the Auditing/Investigating Committee rather than the initiation of the binding dispute resolution by the GDCA.
Part 5 Covenant of Liberty
Covenant of Liberty:
- (a) The GDCA shall make no rule limiting the freedom of members or listed businesses to express their views. The unauthorized use of the GDCA logo or its seals of status are not free expression, but theft of service.
- (b) Members and listed businesses remain free to protect themselves and their property by all means they find reasonable. The GDCA claims the same liberty for itself and its property.
- (c) Officers of the GDCA are not to extort special privileges from any member or listed business. When extortion of privilege is proven, the officer shall be expelled for not less than three years.
- (d) The privacy of members and listed businesses shall be maintained at all times by limiting the collection of information to such data for which just cause may be confirmed.
- (e) Disputes shall not be investigated by the auditing/investigating committee unless an indictment is brought by an officer or a petition of presentment is brought by ten or more members.
- (f) Disputes once addressed and resolved by the investigating committee shall not be revisited, even if the committee resolves to take no action.
- (g) The freedom to remain silent shall be inviolate. No member or listed business may be compelled to testify against himself.
- (h) Points shall not be taken and other penalties shall not be imposed without due process.
- (i) Private property shall remain inviolate. No member or listed business shall be compelled to relinquish any private property. Resigning members are entitled to a pro-rated refund of their paid dues, except that portion allocated to the compensation fund.
- (j) Disputes shall be resolved rapidly and publicly.
- (k) Members of the auditing/investigating committee partial to a dispute shall recuse themselves. If all committee members are recused, the president shall appoint three impartial members to form an ad hoc committee to investigate a specific dispute.
- (l) Disputants are to be informed of the nature and cause of the dispute, have opportunity to confront witnesses relevant to the dispute, and have assistance of counsel of their choice. Members with information relevant to a dispute are obliged to come forward, or accept a ten point penalty.
- (m) Penalties shall be limited to: point reductions, compensation of victims, and publication of the committee's views.
- (n) The liberty of the members and listed businesses being viewed as essential to the operation of a free market, no infringement of liberty shall be encouraged.
- (o) The powers of the GDCA and its officers are limited to those powers indicated in this constitution.
Part 6 Compensation Fund
- (a) The GDCA will establish the Compensation Fund to guard members of the GDCA against the unlikely event of fraud by other members of the GDCA.
- (b) 5% of all fees, fines, donations, etc. collected by the GDCA will be secured in a separate Compensation Fund, managed by the Treasurer of the GDCA.
- (c) Information about the balance in the Compensation Fund shall be included along with the financial statements of the GDCA, available quarterly.
- (d) The GDCA will, in its discretion, pay out funds from the Compensation Fund for the sole benefit of eligible victims of fraud. Records of payments shall be made available to all members upon request for free and to non-members for a fee.
- (e) The following person(s) are considered eligible victims and may receive proceeds from the Compensation Fund at the discretion of the GDCA: 1. Any person or business, who is a member in good standing of the GDCA, and is found to have been defrauded, after an investigation by the Auditing/Investigating Committee, by any member of the GDCA in the course of business who, at the time the fraud was carried out, was listed in the “Gold” or “Platinum” section of the GDCA.
- (f) Claims falling under 5.00gg threshold will only be considered in the discretion of the GDCA.
- (g) Claims of 5.00gg and above will be submitted to the Auditing/Investigating Committee for investigation.
- (h) Before the GDCA can act on a bona fide claim, all reasonable efforts must be made to retrieve monies from the fraudulent business as provided for in the GDCA constitution.
- (i) The maximum compensation for victims of a Gold GDCA member shall be 10.00gg per aggrieved member.