No Membership Agreement is binding on PCI-SIG unless accompanied by the $3,000 US annual membership fee* and unless accepted in by PCI-SIG. PCI-SIG reserves the right in its sole discretion, to accept or reject any Membership Agreement based upon the membership requirements and restrictions stated in the then current Bylaws. By signing below, the individual executing this Agreement on behalf of Applicant warrants and he or she has all requisite authority to do the same for and on behalf of the entity seeking membership.