In bartering’s simplest form, two businesses or professionals exchange items of equivalent value. Tradebank, however, opens up a whole new dimension. Now you don’t have to find someone who simultaneously needs your product or service and has what you need. Only one trader’s need is required to start the process, and with the help of a trade broker, everyone comes out with something they need.
Tradebank completes trades for its clients much like a clearinghouse or commercial bank would do for stocks or checks. 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.
The transactions between companies are actually converted to barter credits or “trade dollars” (one trade dollar is equal to one U.S. dollar in value) and are reflected as balances in each trading company’s “trade account.” The accounts are maintained and serviced by Tradebank. No receivables. No collection efforts. No bad debts.