Billing: Our billing cycle runs from the first business day of the month through the last business day of the month. The monthly statement includes dues for the current month and any charges incurred from the previous month for the following:
All payments must be received by the last working day of the month in order to avoid delinquent status. A late fee of 5% will be assessed on all balances over 60 days old. Delinquent Accounts: After 30 days, unpaid accounts are considered delinquent. Unless satisfactory arrangements for payment are made, membership privileges may be suspended. Members should be proactive in addressing unpaid balances by contacting the Business Office Manager. Guests: Members are welcome to bring guests to CX programs or events. Guest charges can be billed to the member account or guests may pre-pay with a credit card or pay at the door by cash, check or credit card. All non-members making program reservations, who are not guests of a member, must pre-pay in order to make a reservation. Payment at the door will not be accepted. If the reservation is not cancelled prior to, no refund will be used. Inactive Status: Membership may be changed to Inactive status for no less than six months and no longer than two years. The charge for becoming inactive for a period of up to one year is $75. The fee to remain inactive for a second year (or any part of that year) is an additional $75. To obtain this status, The Central Exchange must receive a written request by the last business day of the month. Inactive status enables the member to attend a CX program once a quarter and pay the non-member price at the door. Dining privileges at the downtown Avenue Grill or our reciprocal country clubs are suspended for inactive members. Inactive status members continue to receive programming updates, the quarterly newsletter and annual membership directory. Inactive status members are included in the annual membership directory as a normal listing and may continue to access to The Central Exchange Web site Member Resource section. Membership can be reactivated anytime within the two-year period. Call the Membership Director and your membership status will be changed immediately. Payment Plan: Members who wish to pay the initiation fee or outstanding balances in monthly installments should contact the Business Office Manager to make arrangements. Reinstatement: A former member in good standing at the time of resignation may reinstate membership to active status by paying a reinstatement fee, which equals one-half of the initiation fee. Resignation: Any member who wishes to resign in good standing from membership must submit a written resignation by the last day of the business month to avoid dues charges for the following month. The resignation will be effective as of the first day of the following month if all outstanding charges have been paid. If all outstanding charges have not been paid in full, the membership will be deemed terminated and the account may be recommended for collection proceedings. Any member who has resigned in good standing can reinstate the membership for one-half of the current initiation fee. Use by Others: Spouses, significant others and children residing in the same household as a member, may use the dining facilities when authorized by the member. Members should provide written authorization, and a courtesy card will be issued for them. Temporary Suspension & Termination: If a member's account is delinquent by 30 days or more and the member has not contacted the Business Office Manager to make payment arrangements, The Central Exchange may temporarily suspend membership. The purpose of this status is to allow members to retain membership while eliminating the financial obligation of dues over a short period of time. A member under this status must agree to begin making monthly payments on the delinquent balance within a three-month period. The suspended member may attend programs, but must pay the non-member rates at the time of the program. Suspended members will continue to receive Central Exchange communications, but they will not be billed dues during the suspension period. They will not have charge privileges on their CX membership account. Once the suspended account is paid in full, the membership will be reinstated to active status. A member, whose account has been temporarily suspended for six months or more, may be terminated, and the account may be recommended for collection. The President shall review all members who have been in temporary suspension status for more than six months. A member cannot be put on Temporary Suspension more than twice in two years. Undesignated Corporate and Non-Profit Memberships: Each individual designated as a member under a business or non-profit membership is responsible for all fees and charges for that membership. If a designated member leaves the organization or no longer wishes to be its designated member, a written resignation must be submitted by the last business day of the month in order to avoid dues charges for the following month. It is the designee's responsibility to pay any balances due on that account. After the account is paid in full, the membership will be considered "undesignated," at which time the organization may designate a new member. No dues are assessed on an undesignated membership, and no additional initiation fee is due if a new individual is designated as the member. |
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