Central Barter Bank
Volume 5 Number 11 November 1, 2005
Message from Central Barter:
You can still donate trade dollars to the people of Louisiana. Central Barter has set up an account for your trade dollar donations (Hurricane Katrina Donations). As soon as they are able to use it, the trade will be transferred to New Orleans through our national network. Please email or fax a trade draft to 713-339-4675 with the amount you would like to give. Thanks for your help - The Central Barter Staff
Just as a reminder: Don't Write a Bad Check/Trade Voucher
Writing a bad check/trade voucher is a crime. You can also be charged a processing fee and this fee can be as much as $40.00. Your creditor can also sue you for passing a bad check/trade voucher. In addition to recovering the amount that is owed, the creditor can also recover damages.
Everyone should remember that writing a bad trade draft is the same, and has the same penalties in court, as writing a bad check.
For almost five years Central Barter has been honoring bad trade drafts, which could be due to several reasons. No trade dollars in members account, account closed, members cash fees owed to Central Barter are past due. This was done to help both the buyer and the seller. We try to keep all communications positive, but this has to stop. If your account is not current, DON”T USE IT! There are many members who would like to go to court in order to receive their payment in cash in lieu of trade.
If your account is not in good standing, don’t use it without prior authorization from Central Barter. In most cases we can work out some kind of arrangement. Our goal is to make trade happen, not stop it. However we can’t afford to keep paying the trade dollars for members whom are not willing to work with us.
***** We are planning a Central Barter mixer before Christmas. It is planned for the Greenspoint area sometime in December. We will keep you informed as to the details. *****
Questions and Answers
Are Trade Exchanges legal?
Yes. Under the "Tax Equity and Financial Responsibility Act of 1982", the federal government officially recognizes Trade Exchanges as third-party record keepers-meaning they record barter transactions and report client barter income to the IRS. This puts Trade Exchanges on equal footing with banks, credit unions, securities brokers and others as legitimate custodians in the eyes of the law.
Why do some products and services cost more on Barter than for cash?
Because the cash economy is so competitive you can always find someone who is willing to sell their products and services at steep discounts or even at a loss. In a Trade Exchange, Members sell their products and services at full retail value. On the surface it would seem like you are better off paying cash. Although on retail for retail comparison the cash price may be lower on a particular item, you have to take into account the cost of Your Trade Dollars, which is the wholesale cost of your products and services. Since you are effectively buying at your wholesale cost you may find you are actually better off paying for the item with Trade Dollars.
Remember: As always, carry your trade drafts with you and identify yourself as a Central Barter member before placing any order regardless of wheather it is in person, or over the phone
Remember: Always identify yourself as a Central Barter member before
placing any order whether it is in person, or over the phone.
As
always if you have any ideas or suggestions, please let us know.
Phone 713-339-4674 Fax 713-339-4675 or e-mail centralbarter@yahoo.com
REMEMBER: “PAY ATTENTION OR PAY CA$H”