NTM [ Nu Tireni Moni ] is the lawful currency of Nu Tireni, New Zealand as established in the Statute of Rukuhia.
A percentage of the trade suitable to the seller and buyer can be in NTM and $NZD or NTM or $NZD.
An 8 NTM transaction fee [ for NTM trades only, not $NZD ] will be deducted by BNT [ Bank of Nu Tireni ] to cover the system operational costs. The fee is to be paid to in NTM.
The value of NTM is measured in exchange for 1 Troy Oz Gold. Whilst $NZD is not recognized as lawful currency under He Wakaputanga, for ease of use, 1 NTM = 1 $NZD more or less. The NTM/Gold exchange rate is calculated by BNT on a daily basis. It is used as a tool of value measurement only.
Kawanatanga Wakaminega Maori Government statute does not require tax or gst to be paid on Tikanga Trade transactions as revenue for other infrastructure is gathered on a project levy basis. As hapu, minenga and rohe citizenship grows, levies or regional user only taxes may be introduced for the funding of community services and infrastructure. These would be implemented in accordance consultation from regional residents and within the allowances of Article 7 of the Statute of Rukuhia, the Congress of He Wakaputanga and the departments of Trade and Industry and National Treasury of Wakaminenga Maori Government.
As traditional community support systems shrink, there will be an increasing need for all of us to use our funds to support our communities.
The first year of Tikanga Trade membership is free.
Yearly Tikanga Trade membership for businesses is 40 NTM, yearly for individual non business members is 20 NTM. Fees will be automatically deducted on an annual basis.
Trading by all users' needs to be done in accordance with Te Ture Tikanga.
Users are to be responsible for their own trade. Any users who do not trade in accordance with Te Ture Tikanga may be removed from the system.
Tikanga Trade will provide information via email to the trading community of any members who become black listed.
Bank of Nu Tireni provides a record of sales and purchase transactions for NTM currency only [ not $NZD ].
The seller is responsible for processing the NTM Deposit form if NTM is transacted.
The Tikanga Trade and Bank of Nu Tireni operating/processing systems will operate in accordance with Te Ture Tikanga.
Each user will be provided a record of any change in their account balance by email until an electronic system is developed.
Members are required to keep records of their transactions with receipts and the emailed balance sheets provided by Bank of Nu Tireni . We recommend you keep paper, online and cold data storage records.
Bank of Nu Tireni provides a 200.00 NTM overdraft [ interest free ] for personal users and not-for-profit organizations and 500.00 NTM overdraft [ interest free ] for each business user whilst they are listed on the platform. An account balance must not be in deficit if membership is withdrawn and the account is closed .
Membership can be cancelled at any time and the balance of the annual fee refunded.
Support for dispute resolution is available through Te Kooti Wakanga, Court of Justice.