A business lists information about its company on myTradebank so that other businesses can contact it for services/products. Tradebank will help promote businesses by sending Tradeflashes, phone and posting on various social media websites, about them to other businesses in the network.

Instead of using cash to purchase products or services, members use “trade dollars,” which are actually barter credits. Each time a business sells its services/products to a company, it earns trade dollars. It can then use those trade dollars to purchase any services/products available within the network.

For example, a dental office may sell its services to any business. In return, the dental office may purchase anything available inside the network, including flowers, theater tickets, a stay in a hotel, restaurant certificates, real estate, or painting or legal services.

Tradebank completes trades for its clients much like a clearinghouse. The transactions between companies are converted to barter credits, or “trade dollars,” and are reflected as balances in each trading company’s “trade account.” As an intermediary, Tradebank receives a commission on each transaction and saves all parties the trouble and process of collection, exchange of goods, or matching needs exactly with those of another party. All accounts are maintained and serviced by Tradebank.

1. A BUSINESS may be contacted by Tradebank because another Tradebank member is in need of its products/services and requested the Tradebank broker to call on the BUSINESS. Or a BUSINESS may contact Tradebank directly to become a member.

2. BUSINESS signs up as a Tradebank member for $495 cash/check/credit card. BUSINESS receives a written guarantee that if it doesn’t get $495 worth of trade business in one year, then BUSINESS will get be refunded the $495.

3. BUSINESS gets assigned a Tradebank broker who will help promote the BUSINESS to Tradebank’s network of members. In addition to marketing the BUSINESS’s product or service, the broker also acts as a purchasing agent for BUSINESS by understanding where they are currently spending cash on business or personal needs. Also, the new BUSINESS will be promoted via the monthly Trade Street Journal and Tradeflashes (email newsletters).

4. BUSINESS gets assigned a Tradebank account number and card with the number on it.

1. There are various ways to begin the process. You will receive access to our online client site, myTradebank.com. A directory will be created for you to promote your business as well as local and national promotions. Tradebank members can find your business when they are in need of those particular products/services.

2. BUSINESS owner/manager must let people know BUSINESS is available for trade. BUSINESS owner/manager can attend Tradebank University meetings monthly to meet other members. Owner can also email the broker requesting that Tradebank send a short blurb to members in a blast email.

3. Once BUSINESS accrues Trade dollars, BUSINESS can purchase products/services from other members.

4. BUSINESS can search on the secure network for goods and/or services they would like to purchase via trade dollars.

Once BUSINESS is contacted by another member to provide products/services, buyer should be sure it gets a signed contract before any work begins. Both parties should have a signed contract (or approval from both parties via email) saying what the buyer will receive, the price that will be paid and the date by which the services are to be completed or the product is to be delivered.

If your BUSINESS is carpet cleaning and someone has asked you to clean their carpets, you, the seller, should have in writing EVERYTHING you are going to do to clean their carpets. For example,

clean carpets in the entire house (except where there is heavy furniture)

apply scotch guard on all carpeting

clean sofa and four chairs

scotch guard sofa and four chairs

Total Amount for the above $200 (plus tax)

Or, if you provide services and charge by the hour, specify in the contract,
10 hours of child care services at $125 per hour.

Total Amount for the above $1,250 (plus tax)

When a BUSINESS is acting as buyer, not a seller, BUSINESS should make sure there has been a signed contract by both parties to prevent any possible misunderstanding. It is in the best interest of both parties to have agreed in writing to all work to be done before any work begins.

Once a contract has been signed, the Seller gets the Buyer’s Tradebank 16-digit card number and processes the order online. It is up to the Seller to complete the financial transaction on the Tradebank Web site in order to receive payment.

The Seller goes to http://www.tradebank.com. At the top of the page in gold letters it says Authorize. Click on Authorize.

Once you click on Authorize, it takes you to an unnamed page. On that page, the Seller inputs his Merchant Number and inputs the Buyer’s 16-digit Tradebank account number.

The Seller then enters in the amount of the sale.

A 12-14% commission (only on the amount of Trade dollars spent during that month) is charged on purchases. (Automatic deduction payments are charged 12% commission vs. written check would be 14%).

BUSINESS will also be charged a $$15.00 monthly accounting (to be paid in $U.S. dollars to Tradebank) to cover bookkeeping costs. Tradebank is viewed by the IRS as an authorized third party and its record keeping is in accordance with the Tax
Equity and Fiscal Responsibility Act of 1982.

For more information, visit www.tradebank.com or call 1-888-568-5680.

Tradebank — The Smarter Way to Barter