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
Selling Millennium Dollars®
September 12, 2005
Responding to Insurance Claims
Rejecting Claims &/or Conversions
Available Options:
The Millennium Dollar® is designed to give the holder a real (or constant) unit of purchasing power, while functioning as a medium of exchange, a unit of account and as a store of value; which is to say, the MR$ is offered as money. The MR$ note is not a payment instrument, it is not a promise-to-pay, nor is the issuer or the sponsor required to redeem it.
As such, the holder of the Millennium Dollar® has three options:
1. As a medium of exchange, the MR$ may be spent at the indexed value to pay one’s creditors;
2. as a unit of account, the MR$ may be converted into U.S. dollars (USD), at the prevailing
currency exchange rate; or
3. as a store of value, the MR$ may be held for future use, thereby retaining the inflationary
adjustment.
The purpose of this document is the show the holder how to convert the Millennium Dollars® into USD. Obviously, there are certain expenses involved in converting the MR$ notes into USD, which can be avoided by electing another option. See: Conversion Expenses.
Currency Format:
Real Monetary Reserve, Inc. (d/b/a/ MillenniumDollar Store of Value) sponsors the offering of Millennium Dollars® in a paper format. The following instructions are for converting the paper MR$ notes into U.S. dollars. When the use of our paper currency reaches a certain scale, then our affiliate, Virtualmoney, Inc. www.Virtualmoney.com intends to offer the Millennium Dollar® in an electronic format. At that time, you will be able to convert the paper MR$ into electronic MR$; or otherwise, into USD, at the prevailing currency exchange rate.
Our Concerns:
In converting Millennium Dollars® into USD, we have three concerns:
1. We can only convert the private currency for the actual owner in possession.
2. Cash should not be delivered through a common carrier, unless it is insured.
3. We must be able to verify your identity in order to transfer USD to you.
We are not currently licensed as a money transmitter. As such, we cannot transmit money between different parties; we can only buy, or sell, the private currency. While the common carriers will not offer to insure the delivery of money, we will provide such insurance. And finally, we must be able to verify your identity before entering into a financial transaction with you.
Monetary Conversion Policy:
Our concerns dictate the following monetary conversion policy:
1. You must represent and warrant that you own and possess the MR$ notes.
2. The delivery of the MR$ notes must be insured.
3. The insurance premium must be paid before mailing the MR$ notes.
By requiring insurance, paid in advance, we can cover all of our concerns. This can be accomplished by sending us an e-mail that (a) requests insurance for a specified number of Millennium Dollars®, which (b) you represent and warrant to own & possess. Then let us know how you intend to pay the insurance premium. Your delivery of the MR$ notes will be insured, and the payment of the premium will confirm your identity. Subsequently, the USD proceeds will be paid by the same means of transmission, to the same person, or legal entity, and to the same account or address. Our monetary conversion policy is for your protection. See: Security below. TOP
Converting MR$ into USD:
To convert Millennium Dollars® into U.S. dollars (USD), please follow these steps.
1. Request a 10-day binding e-mail quote for a specified number of MR$.
2. Request insurance, warrant the MR$ notes are your own & supply
the necessary payment information.
3. Receive an e-mail response; confirming insurance coverage, and your
Reference Number, before mailing.
4. Use water-proof packaging materials for the MR$ notes.
5. Include the Reference Number (received in #3) in the delivery address.
6. Obtain a Certificate of Mailing from the U.S. Post Office that includes
the Reference Number in the delivery address.
These steps are explained more fully below. Please see: Mailing Instructions. In addition, an example of a monetary conversion transaction is also shown below. See: Monetary Conversion Example.
Security:
Please note: This is not a secure Web site. Personal, or confidential, information should not be forwarded by e-mail to this Web site. If you wish to forward personal or confidential information; then call, or fax, us at 952-707-8400. You may also mail personal, or confidential, information via the U.S. Post Office to:
Real Monetary Reserve, Inc.
Post Office Box 202002
Bloomington, Minnesota 55420
Insurance:
Although the common carriers will not insure the delivery of money, we will provide such insurance. The purpose of this insurance is to cover three risks; including the risk of loss, theft and damage that occurs during the delivery of the MR$ notes from you to us. We will not be responsible for uninsured, or unidentified, MR$ notes; which are mailed, or otherwise delivered, to us without insurance. If you can find another source of insurance; then we will still need proof of insurance, along with the proper information to confirm your identity. If you do find and select another insurer, then you must bear the full risk of its performance.
Please note: This insurance is only effective, if you follow the precise mailing instructions set forth below. Please see: Mailing Instructions. If you have any questions, then please contact us.
Method of Payment:
The USD proceeds of the monetary conversion will be paid by the same means of transmission, to the same person, or legal entity, and to the same account or address, as you selected when paying the insurance premium. If you selected PayPals, or an ACH transfer, then you should have spendable funds in about one business day. If you used a check via the U.S. Mail, then your check from us should arrive via First Class Mail in about 7 to 10 days.
Mailing Instructions:
After paying for the insurance, we will send you an e-mail confirming that your insurance is in effect against loss, theft or damage of the MR$ notes during the course of delivery. The e-mail will include the following directions, which must be followed precisely. The purpose of these instructions is to minimize the risk of delivery. If you do not follow these instructions precisely, then you are increasing the risk of delivery to an unacceptable level; as such, your insurance coverage will be terminated and any claims you make will be rejected.
1. Make a photocopy of the front side the MR$ note(s).
The entire front of the MR$ note(s), including the serial number(s), must be clearly legible. Please copy as many notes as feasible on each page. If you wish to make an insurance claim, then we will require a copy of all the MR$ notes that were lost, stolen or damaged. You will need this to prove that you actually owned the MR$ notes in question. If you do not possess such information upon making an insurance claim, then it will be rejected.
2. Mail the MR$ notes in secure waterproof packaging.
The waterproofing can be achieved by putting the MR$ notes in a sealed zip-lock storage bag. Conversely, waterproof mailers are also available, but are usually more expensive. If water damage occurs during delivery, and waterproofing was not included in the packaging; then we may not accept your insurance claim. One of the ways, by which we identify genuine MR$ notes from potential counterfeits, is the temperature-sensitive red ink printed just under the serial number. Water damage may affect this ink, thereby making a genuine MR$ note appear to be counterfeit. If you mail the MR$ notes without waterproofing; then you must bear this risk, if water damage occurs.
3. Include the Reference Number in the delivery address.
In the e-mail confirmation of insurance, that you receive from us, will be a Reference Number; which identifies our commitment to insure your mailing. This Reference Number must be included in the delivery address on the package containing the MR$ notes. It must also appear in the Certificate of Mailing, that you receive from the Post Office. If the correct Reference Number is not used, then your insurance claim may be rejected. If you have questions about this, then please contact us. Please see: Delivery Address.
4. Obtain a Certificate of Mailing from the U.S. Post Office.
A Certificate of Mailing is a receipt that provides evidence of the date that your mail was presented to the U.S. Post Office for mailing. It can only be purchased at the time of mailing. Be careful not to lose it, since it is the only official record of your mailing available. The Certificate of Mailing can be obtained for $.90 in addition to the postage. It is available on First Class Mail, weighing 13 ounces or less; as well as, Priority Mail, Special Handling and Package Services.
If you make an insurance claim, then you must be able to prove that you mailed the MR$ notes to us. We will accept, a valid Certificate of Mailing, as proof that you actually attempted to mail a package to us; subject to the other items required herein. However, the address indicated on the Certificate of Mailing must clearly show the correct Reference Number, which was provided to you in your e-mail confirmation of insurance.
It is very important that you do not confuse a Certificate of Mailing with a Delivery Confirmation. Upon making an insurance claim, we need proof that you mailed the package to us. If the package is lost or stolen, then there will be no confirmation of delivery. Finally, be sure you do not lose the Certificate of Mailing, since the Post Office does not keep a copy.
Delivery Address:
The envelop, or package, containing the Millennium Dollar® notes must be mailed to the following address:
Real Monetary Reserve, Inc.
1Reference Number _______________
Post Office Box 202002
Bloomington, Minnesota 55420
1Insert your Reference Number here.
Each insured package will be assigned a specific Reference Number, which you will receive in the e-mail confirmation of your insurance. This Reference Number must be included in the delivery address on the package; as well as, on the Certificate of Mailing. For security reasons, we are unwilling to accept delivery at our street address.
Transaction Confirmation:
Upon receiving your MR$ notes, and performing the resulting monetary transfer; we will send a confirmation of the transaction to you via e-mail. If you do not receive your funds within a reasonable time period, then please contact us. TOP
Currency Spread:
When one currency is converted into another currency, the entity providing the monetary conversion services must keep cash on hand to perform the conversions. As such, there is typically a spread between the indexed value of the Millennium Dollar®, and the currency exchange rate at which someone is willing to convert the MR$ notes into USD. This will typically be your largest expense in converting the Millennium Dollars® into USD.
Certificate of Mailing:
The Certificate of Mailing required by the insurance will cost you $.90, when you deliver the MR$ notes to the Post Office for mailing. In the event of an insurance claim, this document proves to us that you actually attempted to mail a package to us.
Forwarding Postage:
You will have the expense of mailing the MR$ notes to us. Inasmuch as we require a Certificate of Mailing, you will have to use the U.S. Post Office. While we assume First Class Mail in our example below for a four ounce package; you may elect to use any other mailing option available at the U.S. Post Office, provided that you cover the expense and obtain a Certificate of Mailing.
Insurance Premium:
Real Monetary Reserve, Inc. will charge 50% of the insurance premium required by the U.S. Post Office, which is as follows:
Insured Value: Premium:
$.01 to $50.00 $.65
$50.01 to $100.00 $1.10
$100.01 to $200.00 $1.65
$200.01 to $300.00 $2.20
$300.01 to $400.00 $2.60
$400.01 to $500.00 $3.10
$500.01 to $600.00 $3.60
$600.01 to $700.00 $4.10
$700.01 to $800.00 $4.60
$800.01 to $900.00 $5.10
$900.01 to $1,000.00 $5.60
For amounts over $1,000, the premium is $5.60 plus an extra fifty cents ($.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 $10,000, but this will be decided on a case-by-case basis; and, if offered, may entail some additional conditions.
Transaction Fee:
There will be a thirty-five cent ($.35) fee for each transaction, which will be deducted from the proceeds of the monetary conversion.
Return Postage & Handling:
There is no extra charge for monetary transfers via PayPals or by ACH Transfer. However, there is an additional charge of $1.50 for postage and handling, if your transaction proceeds are mailed via the U.S. Post Office. Other forms of U.S. Mail, or common carriers, may be elected; if you agree to pay the additional expenses. However, the person and mailing address must be the same; as the individual, who forwarded the insurance premium.
Monetary Conversion Example:
Herewith is example of a Monetary Conversion, based upon the estimated expenses set forth below:
Assuming:
Millennium Dollars®: 1,000.00 MR$
Inflationary Adjustment Factor: 1.161712 on October 1, 2005
Indexed Value: $1,161.71
Currency Exchange Ratio: x 98.25%
10-Day Firm Quote: $1,141.38
Indexed Value: $1,161.71
10-Day Firm Quote: $1,141.38
Currency Spread: $20.33
Therefore:
Method of Payment: PayPal: ACH Transfer: U.S. Mail:
Indexed Value: $1,161.71 $1,161.71 $1,161.71
Currency Spread: $20.33 $20.33 $20.33
Certificate of Mailing: $0.90 $0.90 $0.90
Forwarding Postage: $1.21 $1.21 $1.21
Insurance Premium: $6.60 $6.60 $6.60
Transaction Fee: $0.35 $0.35 $0.35
Return Postage & Handling: N/A N/A
$1.50
Total Expenses: $28.49 $28.49 $28.49
2Net Conversion Proceeds: $1,133.22 $1,133.22 $1,131.72
Conversion Expense Ratio: 2.45% 2.45% 2.58%
2The final payment issued would be $8.61 higher; since the insurance premium ($6.60) is paid in advance, and the
Certificate of Mailing ($.90) and the postage ($1.21) are paid to the Post Office.
Please note that this is only an example using currently projected numbers. The actual costs may
vary and should be checked independently. As an example, the currency exchange ratio may
change hourly, when the market becomes larger.
TOP
Submitting an Insurance Claim:
To make an insurance claim, we must have the following:
1. A copy of our e-mail offering a binding quote to purchase your MR$ for USD.
This is the initial e-mail, whereby we make a binding offer to purchase your MR$ notes at a specified USD value; provided that, you deliver the MR$ notes to us within 10 days at your sole expense. If we receive the MR$ notes after 10 days; then the quotation is not binding on either party, and a new binding quote will have to be negotiated between the parties via e-mail.
2. A copy of our e-mail confirmation of insurance.
This is the e-mail we sent to you, acknowledging the insurance that you purchased from us. This e-mail will contain your Reference Number, which must be included in our delivery address and repeated on the Certificate of Mailing you receive from the Post Office.
3. A letter making the insurance claim.
This is a simple letter from you, addressed to Real Monetary Reserve, Inc., making the insurance claim. The letter must be signed by the owner of the MR$ notes covered by the insurance. It should also state the number of Millennium Dollars® lost, stolen or destroyed during the delivery. (If we receive your package and find the MR$ notes destroyed, then we will notify you by e-mail.)
4. A photocopy of the MR$ notes.
This is a photocopy of each any every MR$ note for which you are making an insurance claim, which clearly shows the entire front side of the MR$ note(s), including the serial number(s). (Keep a copy for your records, in case the copy you are sending is lost.)
5. A Certificate of Mailing with the Reference Number.
This is a copy of the Certificate of Mailing that you received from the Post Office, when you mailed the MR$ notes. This Certificate of Mailing must include the Reference Number provided to you in the e-mail confirmation of your insurance. (Keep a copy for your records, in case the copy you are sending is lost.)
6. Delivery Confirmation, optional.
If you requested, and obtained, a Delivery Confirmation, then please include that as well. While this is not required, it may alert us to the fact that the MR$ notes have been misplaced within our own office. However, this is not required. (Keep a copy for your records, in case the copy you are sending is lost.)
Responding to Insurance Claims:
Please note that the delivery of First Class Mail can sometimes take 7 to 10 days, or longer during holiday periods, while other classes of mail may take less time. As such, please do not submit an insurance claim until a reasonable period has elapsed. We also suggest that you make an e-mail inquiry first, since we may be processing your request. You may contact us at: USD@MillenniumDollar.com . However, your insurance claim must be made within 30 days of the date you mailed the package, as confirmed by your Certificate of Mailing.
Once we have a complete claim, including the aforementioned documents; then we will render a decision on your insurance claim within 3 business days. If your insurance claim is accepted, then we will forward the insurance proceeds within 2 additional business days. The USD proceeds will be paid by the same means of transmission, to the same person, or legal entity, and to the same account or address; as you selected when paying the insurance premium. Payment by PayPals, or ACH transfer, should give you spendable funds in one business day; while a check delivered via the U.S. mail could take another 7 to 10 days to receive.
Rejecting Claims and/or Conversions:
These are some of the reasons; why we may reject your claim, or otherwise refuse to continue with the monetary conversion:
1. The MR$ notes you sent are counterfeit.
2. We could not determine whether the MR$ notes were genuine, due to water damage.
3. You did not provide us with the documentation required for a claim:
i. You have no e-mail from us, as proof of your insurance.
ii. You have no photocopies of the MR$ notes with legible serial numbers.
iii. You have no Certificate of Mailing to prove you mailed the MR$ notes.
iv. The Certificate of Mailing does not have the proper Reference Number.
v. The Certificate of Mailing does not have the proper delivery address.
4. The documentation you provided to us is not valid.
5. The serial numbers indicate that the MR$ notes you sent were formerly lost or stolen.
6. Your insurance claim was not made within 30 days of your original mailing.
7. Completing your transaction requires a violation of state or federal law; such as a
transmission of money to a party, who does not initially own the MR$ notes.
At this time, Real Monetary Reserve, Inc. is not licensed to transmit money between two other parties. The company can only buy, or sell, the MR$ notes from one party per transaction..
False Claims:
Please note: tampering with the U.S. mail is a federal offense, which will be reported accordingly.
In addition, counterfeit and stolen notes will be reported to the appropriate authorities. Lost and
stolen notes will be returned to their rightful owner(s), unless a court of proper legal jurisdiction
determines otherwise. If we pay your insurance claim, and the MR$ notes subsequently show up;
then these MR$ notes are the property of Real Monetary Reserve, Inc.
TOP
Reporting Requirements:
Transactions involving $10,000, or more, will also be reported to the government, as required by law. In addition, other suspicious patterns of monetary transfer will also be reported. Real Monetary Reserve, Inc. will not knowingly participate in money laundering, or other illicit activities. As such, the company will work with legal authorities, to eliminate such activities, to the extent permitted by law.
Questions:
If you have any questions, then please contact us:
1. By e-mail sent to: USD@MillenniumDollar.com .
2. By calling, or faxing us, at: 952-707-8400.
3. By sending us a query addressed to:
Real Monetary Reserve, Inc.,
P.O. Box 202002,
Bloomington, Minnesota 55420.