L i c e n s e d B y V i r t u a l m o n e y, I n c.
We make money the old-fashioned way - - - We print it !
Then we secure it with assets on a present value basis.
Patent(s) Pending
Insurance Program
August 24, 2005
Claiming a Loss for Non-Delivery:
Claiming a Loss for Damaged Notes:
Lost, Stolen and/or Damaged Notes:
Common Carriers:
Questions:
Introduction:
When the private currency is sold through E-Bay, or other auction venues, the purchaser must pay for shipping, handling and insurance. The shipping and handling charges will be disclosed at the e-Bay auction site, or by a personal e-mail, since they may vary with each package being shipped. In addition, Real Monetary Reserve, Inc., the sponsor of the Millennium Dollar® program, will require that shipments up to $10,000 are insured. Inasmuch as the common carriers will not offer insurance on the shipment of money, Real Monetary Reserve, Inc. will provide insurance for its customers pursuant to the terms and conditions stated herein. TOP
Premium:
Real Monetary Reserve, Inc. will charge 50% of the insurance premium that is offered by the United States Post Office, which will be based upon the insured value of the package being shipped. The insured value will include the purchase price of the MR$ notes, excluding the shipping and handling fees. As such, the insurance premium for the shipment of the private currency will be as follows:
Insured Value: Premium:
$.01 -- $50.00 $.65
$50.01 -- $100.00 $1.10
$100.01 -- $200.00 $1.65
$200.01 -- $300.00 $2.10
$300.01 -- $400.00 $2.60
$400.01 -- $500.00 $3.10
$500.01 -- $600.00 $3.60
$600.01 -- $700.00 $4.10
$700.01 -- $800.00 $4.60
$800.01 -- $900.00 $5.10
$900.01 --$1,000.00 $5.60
For amounts over $1,000, the premium is $5.60 fifty cents ($.50) for each additional $100 of insured value, or portion thereof, up to a maximum of $50.60 for an insured value of $10,000. If the insured amount is over $10,000, then please contact us for prior approval. Real Monetary Reserve, Inc. reserves the right to withdraw its offer of insurance for amounts exceeding $10,000, but this will be decided on a case-by-case basis; and, if offered, may entail some additional conditions. TOP
Coverage:
The insurance will cover loss, theft and damage of the private currency, which occurs prior to the confirmed delivery. The insurance coverage for loss and theft terminates upon the delivery of the insured package to the address provided by the purchaser, as evidenced by a confirmation of delivery from the common carrier. If the Millennium Dollar® notes are lost or stolen, then the claim must be made within five (5) business days of the projected delivery date by e-mailing us at USD@MillenniumDollar.com or by calling us at 952-707-8400. If the Millennium Dollar® notes are damaged in transit, then the purchaser will have fifteen (15) days to notify Real Monetary Reserve, Inc. to make an insurance claim.
At this time, Real Monetary Reserve, Inc. is not a money transmitter. As such, it will not knowingly ship your MR$ notes to a third party; and the insurance offered herein does not cover loss, theft or damage that occurs in shipments of the MR$ notes to third parties. The MR$ notes must be mailed to the attention of the actual purchaser at his or her business or residential address. If the address provided for the shipment is to a third party, even if it is addressed to the purchaser; then this insurance will not cover any loss; nor will there be any refund of the insurance premium. Violating this policy, and then making an insurance claim, may constitute insurance fraud. TOP
Claiming a Loss for Non-Delivery:
When the private currency is shipped from Real Monetary Reserve, Inc., we will notify you via e-mail with respect to its estimated delivery date along with the common carrier that will be making the delivery. (If the purchaser wishes to change the common carrier at that time they may do so, provided that they bear any increase in the cost of shipment.) If the delivery is more than 72 hours late, then please notify us immediately. If the common carrier does not provide us with confirmation of delivery, then your Millennium Dollar® notes will be replaced by return delivery at the sole expense of Real Monetary Reserve, Inc. If the common carrier does supply us with confirmation of delivery, then your claim will be automatically denied. This insurance does not cover any loss, theft or damage of the Millennium Dollar® notes that occurs after the confirmed delivery. As a condition of this insurance, you must return any MR$ notes from the first shipment, which may arrive subsequent to your receipt of the MR$ notes sent to replace the lost, stolen or damaged notes; since they are then the property of Real Monetary Reserve, Inc. TOP
Claiming a Loss for Damaged Notes:
When the private currency package is delivered by the common carrier, please inspect the package immediately for any damage that may have occurred in transit. If there is any obvious damage on the outside of the package, then please (a) point this out to the delivery person and (b) obtain his or her personal contact information; so that we may confirm the damage with the delivery person. If the package was not damaged, but the Millennium Dollar® notes within the package were damaged; then please provide us with a written explanation concerning how this may have occurred.
If the notes were damaged in transit, then you have 15 days in which to make a formal claim to Real Monetary Reserve, Inc. After which, you have an additional 15 days in which to forward the original packaging and the damaged notes to Real Monetary Reserve, Inc. at your sole expense. The damaged notes must be verifiable as the original Millennium Dollar® notes that were shipped to the purchaser or this insurance coverage will not apply. The Company will not redeem counterfeit notes, or partial notes that lack the proper identifiable characteristics of the MR$ notes originally shipped to you. If these conditions are properly met, then a new shipment of Millennium Dollar® notes will be delivered to the insured party at the sole expense of Real Monetary Reserve, Inc. The company will not refund the original USD purchase price of the private currency as the result of an insurance claim. TOP
Lost, Stolen and/or Damaged Notes:
Whenever a valid claim is made, and honored, for the replacement of lost, stolen and/or damaged Millennium Dollar® notes; these MR$ notes will be immediately retired. As such, the retired notes will not be secured by present value assets, nor will Real Monetary Reserve, Inc. offer to convert them into USD. In addition, the serial numbers will be posted at http://www.MillenniumDollar.com , so that others will be put on notice that these are not viable MR$ notes. Finally, participating merchants will be informed of these serial numbers, and a reward will be offered for the identity of anyone attempting to pass these notes. Anyone caught passing such notes may be subject to civil and criminal penalties, which the company will pursue to the fullest measure possible. The reward, for information leading to the arrest and conviction of the perpetrator, will be 10% of the value of the MR$ notes recovered by Real Monetary Reserve, Inc. Inasmuch as the serial numbers of any and all Millennium Dollar® notes will be recorded in advance of the shipment; we expect to minimize the risk of loss, while maximizing the conviction rate. TOP
Common Carriers:
Common carriers should note that any lost, stolen or damaged Millennium Dollar® notes; which turn up subsequently, should be returned to Real Monetary Reserve, Inc. or otherwise shipped to the following address:
Real Monetary Reserve, Inc.
Post Office Box 202002
Bloomington, Minnesota 55420
Anyone attempting to pass loss or stolen Millennium Dollar® notes will be pursued vigorously in the civil and criminal venues deemed appropriate.
Questions:
For additional information, or to answer any questions you may have; please feel free to contact us at 952-707-8400 or by e-mail to: USD@MillenniumDollar.com .