When conducting business on barter through your local trade exchange, it’s always important to set clear expectations to the trade exchange, as well as the members seeking your product or service on barter. Here are some tips below:
- If you have any restrictions on barter for your product or service offering, please inform your trade exchange or the member seeking your product or service.
- Make it very clear to your trade exchange or the member seeking your product or service the offerings you are making available on 100% barter.
- The way you would normally conduct your business in the cash world is how you would conduct your business through your local trade exchange. For example, if you normally collect a deposit on web design services in the cash world, the same rules would apply when doing business on barter.
- If you are the seller and have completed a barter transaction, provide the buyer with an invoice for their records. If you are the buyer, be adamant in getting a receipt for your records.
- For any contracting, landscaping or large transaction jobs, confirm the quote with the seller on barter first and do not move forward until you have received a paper copy of the quote.
- If you are not accepting barter, it is very important to let your local trade exchange know. That way, the trade exchange can temporarily remove you from the member directory. Just imagine calling a member and then finding out that they are not accepting barter. This can become frustrating on behalf of the buyer.
- If you are currently providing services to a member on barter, and then choose to go on stand-by (not take on barter), it is best practice to let the member know well in advance so that it doesn’t make for an unpleasant surprise. Make it clear to the member that you are not accepting barter at this time.
When you set clear expectations on barter, there’s less room for member confusion or disappointment. It’s always a good idea to review your offerings on barter quarterly or yearly.