ITEX Process
The first thing you need to do is identify a member of the barter network that offers the goods or services you are interested in. � If you don’t see anyone that offers what you need, contact one of our Trade Directors. We’ll help you find a supplier.
Next, you contact the member, tell them you are member of� ITEX and request a quote. You will then decide whether to hire them based on the same criteria as if you were paying cash. Do they offer what you need? How much will they charge? What is their delivery schedule? After you are satisfied they meet your requirements, you will strike a deal. If your normal process is to issue a purchase order, then you should issue a purchase order.
As part of your purchase you will agree on the payment terms. If you are buying a good you will probably be asked to pay on delivery. If it’s a service, you may be asked to pay a percentage up-front with the balance due on completion. Again, this is the same as any cash transaction.
When payment is due, the seller can contact ITEX’s� 24-hour transaction authorization phone number and input the amount of the transaction. That’s it. You will receive notice of the transactions in your monthly statements.
The most important thing to remember is that trading in barter is the same trading in cash, except you don’t have to pay cash!