B2B Barter Pty Ltd ABN 21 610 457 175 (as Australian National Agent for B2B Barter International) is hereafter referred to as the National Agent.
These trading terms are to be read in conjunction with the B2B Barter International Trading Rules and form part of the conditions of membership of the Exchange.
Trade Credits will be referred to as B2B Barter Credits or Trade dollars. The use of the $ (official designation for the Australian dollar) will be deemed to accurately represent the value in Australian dollars for the purpose of taxation and value of trade transaction. T$ represents B2B Barter Trade dollars or Credits. All values are in Australian dollars only. Fees and charges are non refundable.
A one off fee of $330.00 cash (GST inclusive) is payable to the National Agent on joining B2B Barter and must accompany the Application for Membership. Payment can be made by cash, cheque or credit card.
A cash fee equal to 5.5% for Flexi Cards or 5% for Gold Cards (incl GST) of the B2B Barter Trade dollar portion of any purchase transaction on goods and services is payable to the National Agent. For amounts up to and including T$2999, this is payable within 7 days of the completion of the transaction in whole or in part. All transactions of T$3000 and above require the submission of an Intention to Trade (ITT) Agreement (see below) and payment of fees in cleared funds at least 24 hours prior to finalisation of the transaction.
A cash transaction fee equal to 5.5% for Flexi Cards or 5% for Gold Cards (incl GST) of the T$ portion of any Real Estate or contractual transaction is payable to the National Agent on or before settlement.
A monthly cash fee of $22.00 for Flexi Cards or $16.50 for Gold Cards (GST incl) per membership account is payable to the National Agent.
A Bad Debt Reserve contribution of forty-eight trade dollars (T$ 48) per annum will be deducted from a trading member’s account to fund bad debts in Trade Credits within the Exchange.
A cash fee of $5.50 (incl GST) will be payable monthly to the National Agent unless the National Agent receives notification that the member will obtain their statement of account and updated B2B Barter Membership Directory via online facilities. Provision is made for members to access this information free of charge via online computers available for member use in B2B Barter offices.
A 1.1% (incl GST) facility administration cash fee will be payable to B2B Barter Pty Ltd for a goods and services Facility Application for T$20,000 and over. The approved facility amount will not be deposited to the member’s account until cleared funds in payment of the Facility Administration Fee are received by the National Agent.
An additional 1.1% (incl GST) cash fee will be payable to B2B Barter Pty Ltd on the Trade component of all international transactions. This fee covers costs and charges associated with an international transaction and is collected by the National Agent on behalf of the Administrator.
When contacting other members with the intention to trade, etiquette requires that you identify yourself as a B2B Barter member and agree to the trade percentage prior to purchase. Once you negotiate your purchase with another B2B Barter member you have the option to complete the transaction either online via the Internet, or via your B2B Barter cheque book.
Your online trade account operates similarly to your online regular bank facility. Access your account by selecting Members’ Login from the B2B Barter homepage on the web at http://www.b2bbarter.com.au Transactions below T$3000 can be completed immediately online. The Buyer simply selects “Buy” under the “Transactions” heading, completes the requested information (both Buyer and Seller details), and notes the transaction authorisation number issued on the screen. This is your record that the transaction has taken place and guarantees transfer of the funds from the Buyer’s account to the Seller’s account. The Seller is also given this number as a record of their transaction. Online members can view their statement of account and transaction history at any time from this Members’ Login site. Computers are made available at B2B Barter offices for members to access their account details and current membership directory. This service is free of charge.
Your B2B Barter cheque book operates in a similar way to your regular bank cheque account.
As a Buyer , simply complete your cheque slip with the required information, and exchange it for the goods or services you have purchased. Ensure you have enough funds in your B2B Barter account to cover this purchase. You will be required to pay to the National Agent an amount in cash equal to 5.5% (incl GST) of the T$ component of the purchase of the goods or services within 7 days of the transaction.
As the Seller , you will need to have the transaction authorised when it is T$300 or above. Simply call B2B Barter for an authorisation number which must be included on the Buyer’s cheque slip. Confirm all the details have been completed correctly on the cheque slip before completion of the transaction. This cheque slip must be mailed or delivered to the National Agent within 7 days of the transaction. The trade dollar amount is then credited to your account.
Members who are travelling overseas to countries where B2B Barter is established can contact their National Head Office to request a special International B2B Barter
Cheque Book. For each cheque slip issued, the member must have T$300 Trade dollars in credit in their account, and a direct debit authority must be established for the automatic payment of international transaction fees, or these fees can be prepaid. Regardless of which country the member travels to, they simply complete each cheque slip in the currency of the country where they are purchasing, remembering to include the currency symbol, and gives the cheque to the seller, as they would in their home country. The Seller is responsible for obtaining any authorisation required under their National Trading Rules.
Cheques must be forwarded to the national head office within 14 days of receipt. At the time of processing, the exchange rate is drawn from the reputable, live currency site, www.xe.com. In order to minimise the impact of fluctuations in the exchange rate, international cheques are valid for 3 months only from the date of issue. Where cheques are received after the 14 day period, any loss due to a variation in the exchange rate may be carried by the seller.