I am considering this award as well...as soon as some of my pending points post, I'll be getting one...below is the terms and conditions on the back of the card...also, they do not have an expiration date...Hope this helps!
The following are the Ritz-Carlton Terms and Conditions:

1. Ritz-Carlton Currency is valid at all Ritz-Carlton Hotel and Resort locations.
2. It is not necessary to be a registered guest to use Ritz-Carlton Currency.
3. If a registered guest, charge goods and services to the room and present currency at the front desk at or check-out. If a non-registered guest, present currenct at the time of purchase. The total charges will be reduced by the face value of the currency.
4. Credit must be established at check-in by presenting a valid form of payment, which may include presenting Ritz-Carlton Currency.
5. Ritz-Carlton Currency may not be accepted at concessions within the hotel not owned or operated by Ritz-Carlton. Please confirm with the hotel prior to making the purchase.
6. This Ritz-Carlton Currency is issued by and is the property of MI Fulfillment Services, LLC. This Currency is valid at participating Ritz-Carlton hotels operated by The Ritz-Carlton Hotel Company, LLC (Excluding The Ritz-Carlton Chicago, A Four Seaons Hotel.) 7. Ritz-Carlton Currency is not redeemable for cash. Change will not be given on currency presented as payment for goods and servies. Currency is void and will not be honored if sold for cash or other consideration.
8. Ritz-Carlton Currency may be supplemented by payment of cash, acceptable checks, or valid credit card.
9. Ritz-Carlton Currency may be used for all publicly listed and available room rates and packages, but cannot be used for convention, travel industry, tour, advance purchase, catering, or group room rates.
10. Ritz-Carlton Currency is not replaceable if lost, stolen, destroyed or expired.
11. Ritz-Carlton Currency is transferable when gifted.
12. Any tax liability, including disclosure, connectd with receipt or use of this award is the recipient's responsibility.
13. Ritz-Carlton Currency is accepted at face value in U.S. dollars, and will be converted into local currency value at the hotel's currenc exchange rate.
14. Ritz-Carlton Currency may not be resold or auctioned online.