This would not be possible since Freeworlders are biologically predisposed to free use. They didn't become free use via some law that enabled free use to exist. They've been sucking and fucking each other for millennia.
Ergo, such bracelets would confuse them.
If sex is viewed as casual as a handshake or breathing air, why would you need to be "exclusive"? Your mind and heart may belong to your (many) significant others, but certainly not your body.
That being said, Freeworlders are aware of and respect Prude Worlder (people from our world) social norms. They won't force you to do anything. However, they view our comparatively puritan morals as alien and appalling.
Overall, whether visiting short-term or long-term, anyone coming to Freeuse World needs to be willing to adapt to - or at least tolerate - its local customs.