Just click on a link below to review the
answer to Frequently Asked Questions.
What are the advantages of using NuBarter?
There are several. First of all, NuBarter produces
new business . . . and allows you to expand
your market beyond your cash-paying customers.
Secondly, NuBarter conserves cash. Instead
of spending your cash to purchase needed
goods and services, you can use your own
goods and services for the things you need,
keeping more cash in your business for other
purposes. Finally, NuBarter puts idle resources
to work. Excess time, excess inventory,
and excess capacity are converted into needed
goods and services.
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How does trade work within NuBarter?
Clients of our Exchange use NuBarter, instead of cash, to handle their
transactions. If a client spends one thousand
dollars worth of products with another client,
he will receive one thousand dollars in NuBarter which can be used to purchase
anything from our other NuBarter clients.
Cruises, hotel rooms in most major cities,
restaurant meals, advertising, printing,
as well as thousands of other products and
services can be obtained with NuBarter credit.
We are simply a third-party record keeper,
sending monthly statements to all clients
showing their purchases, sales, and current balance.
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What major companies are involved in barter?
Nationally over 300,000 businesses have
been involved in the industry. Major corporations
include Xerox, Mattel, IBM, National Semiconductor,
Chrysler, Hilton Hotels, Shell Oil, Goodyear
Tire, General Electric, Fairchild Camera,
Spaulding, Douglass Aircraft and countless
others. It is estimated that 75% of the
Fortune 500 companies engage in virtual currencies to
one degree or another. Local companies transacting with NuBarter include
Six Flags over Georgia, The Atlanta Hawks, Phillips Arena, I Heart Radio, North Point Hotels, Savannah Sweets, and many others. A
list of our largest local members will be
provided at your request.
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What is unique about NuBarter?
NuBarter was established in 2002 making
us one of the oldest and most stable Virtual Currency systems and one of the largest independents
in the country. NuBarter has also earned
for itself a reputation for hard work, honesty,
and reliability. It is always open to criticism
and suggestions from clients, and endeavors
to establish policies which protect the
clients' interests and help to insure a
stable economy.
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What creates a stable virtual-credit economy?
Many Industry organizations, though
well-intentioned, have large credit
deficits in their systems. These deficits
are a result of indiscriminate credit
spending by owners, losses created from
clients going out of business, or poor loans. Our organization, on the other
hand, has a balanced virtual credit economy.
For every positive dollar of virtual credit
in circulation there is a corresponding
negative dollar which has
been sufficiently collateralized under guidelines
established by the I.R.T.A.
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Who are the people behind NuBarter?
NuBarter was launched by Gary Field.
who has over 30 years experience in sales
marketing and management.
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I already trade on my own. Why join NuBarter?
The problem with one-to-one trading is the
incidence of coincidence that is each business
must want what the other has to offer. In
our exchange, however, everyone can transact with anyone even if he does not want what
the other person has. Virtual credit can often
be spent just like money - on items everyone
needs and often wants.
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What if I cannot spend my NuBarter credit on
things I need?
When NuBarter does not have something a
client needs, it is our job to find it for
him, whenever possible. As new businesses
are solicited to join NuBarter, we only
approach those who can fill the needs of
our current clients. To get the most benefit
from our exchange, each business should
give us as large a list as possible of its
current and future needs. Trading can never
fill every need, but a large enough list
will usually allow everyone to spend his
trade credit productively.
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Do you have any special tips on how to spend
trade credit?
When a client makes his long list of needs,
he should think of everything for which
he spends his cash. He should not limit
himself to worrying about one or two single
purchases. He needs to look at his business
check book for the last six months as a
memory aid and think, too, of his personal
needs. If he regularly takes cash out of
the business for personal living, travel,
home improvements, etc., why shouldn't he
take out the barter income instead and save
the cash for products and services the barter
network cannot so easily acquire?
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What if I earn more trade credit than I
can spend?
Clients should only trade in proportion
to their ability to spend the trade credit
they earn. If someone sells products or
services that are in high demand, it may
be necessary for him to limit his trade
activity. The best way to do so is to have
NuBarter manage the flow of trade business
that comes in. When the client has reached
his limit NuBarter will stop referring new
customers until he is ready to resume trading.
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What if I do not get any business through
NuBarter?
This problem should only be temporary if
the products or services are marketable.
The amount of business a client receives,
however, will depend upon the particular
type of business along with normal supply
and demand factors. If a client is not getting
as much business as he wants, NuBarter may
also be able to help. We are concerned about
balancing supply and demand as carefully
as possible. We will also help everyone
promote their products or services to other
clients.
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Is it true that getting something using NuBarter can take more time than getting it for cash?
Yes. Printing, for example, that might be
done in five days for cash, might take ten
to fifteen days for NuBarter. Service businesses
must give priority to their cash business.
Trading represents that extra business used
to fill the sporadic lulls in business activity.
This situation is not really a disadvantage
to the trader if he does not expect to use
NuBarter for emergencies. Careful advance
planning, along with patience, is required
to make trading a pleasant and profitable
experience.
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I am looking for a large computer. If I
save my credits, can I get it through
NuBarter?
Saving credits in order to purchase
a very specific high-demand item can only
frustrate and discourage a client. To get
the most benefit from NuBarter, each client
should provide our staff with as large and
as diverse a list of his needs as possible.
Everyone should spend his credits as
he goes along, never saving it for something
that may or may not become available when
he needs it.
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How can I find out about any unusual uses
for barter or Trade Dollars I might not
think of?
Many clients use thier credits to pay employee
bonuses. Some even pay employees a portion
of their regular salaries in NuBarter.
At your request, we will set up employee
sub-accounts and will assist your employees
in spending their NuBarter as advantageously
as possible. The employees, of course, need
not pay our 12% broker's fee. This can be
paid by the client when credit is transferred
to any employee's sub-account.
It is also possible to pay some bills with
trade credit. We can help a client's creditors
spend their trade credit on the goods and
services they need just as we would help
his employees. Paying bills with trade credit
is just one more creative way to use trade
credit.
NuBarter can even use trade credit to help
clear past-due accounts receivable. A creditor
of a client who is unable to pay the money
he owes might be willing to pay the barter
system with his products or services. If
these products or services are acceptable
to NuBarter, we will purchase them and credit
our client with the transaction. That client
can then use that credit to obtain needed
goods and services.
What if I quit NuBarter? What happens to
my credits?
According to our rules, any client
who quits NuBarter must be given six months
to spend his credit balance. Extensions
will be granted to clients with large balances.
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Are there any tax advantages to using NuBarter?
NuBarter income is the same as cash income
for tax purposes. There are no inherent
tax advantages or disadvantages. Using NuBarter should be considered a marketing tool, not
a tax tool. As with cash income, however,
NuBarter purchases that are business-related
are also tax deductible.
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How do I know how much trade income to include
on my return?
At the end of the year NuBarter totals sales and submits this information to the
IRS on form 1099B. NuBarter also furnishes
each client with a copy of this form for
his records.
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Who decides what prices the seller will
charge on NuBarter?
Essentially the market determines pricing
just as it would for cash. Where the seller
has sufficient margin, he is expected to
trade his goods and services for barter
at the same price as he would sell them
for cash. Where margins are tight, a seller
is allowed to adjust his price to manufacturer's
list price. Such a situation regularly occurs
with electronic items such as television
sets and copiers. In some cases regular
prices are retained but cash is mixed in
to increase a dealer's narrow margin. NuBarter
frequently publishes guidelines on this
issue. By accepting or rejecting prices,
NuBarter's members act as the ultimate authority
in pricing integrity.
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What do I do when prices are substantially
higher than cash prices?
Actually they are not always higher. But,
in those instances where they are, each
client must consider how much he has actually
invested in the NuBarter credit held in his
account. If the merchandise cost is fifty
cents on the dollar, $10,000 worth of NuBarter credit actually costs only $5,000. If the
client is in a service-related business,
the credit may only cost him his idle
time. It will often be less expensive to
pay full retail price with NuBarter than to get the same article at a discount
for cash. Seasoned members are always aware
of this difference and use it to their advantage.
On the other hand, if someone overprices
his products or services beyond a reasonable
limit, no one should do business with him
but should call our office for another referral.
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Can I exclude anything in my inventory from
NuBarter?
Yes. You should only sell what you want
to sell. The idea of NuBarter is to move excess
inventory or that inventory which gives
you an advantageous profit margin.
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Can I use my credits to negotiate purchases
with businesses that are not clients of
NuBarter?
Absolutely. However take care not to promise
anything without first checking on its availability
with NuBarter. A client purchasing a $10,000
car from a non-client, for example, might
ask the non-client dealer if he would accept
goods and services for the down payment.
If the dealer accepts, and if NuBarter has
what the dealer wants, the trade can be
made. Clients are always encouraged to negotiate
at least a small trade component for purchases
with non-client businesses. We are always
willing to assist you in putting any special
trade together.
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Can my NuBarter credit be spent with any other organizations?
Absolutely. You may spend your credits with any client of any organization
that belongs to our international credit clearing systems. Thus, you gain
access to the products and services of literally
thousands of businesses across the globe.
Arrangements, however, must be made in advance
through our office.
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How do I get started?
When you are ready to join, a member of
our sales staff will meet you, have you
sign a contract, pick up your check, and
discuss with you what you want to sell as well as how you will spend your credits. Our inside staff will help to arrange
and walk you through your first sale and
continue to suggest ways for you to spend
your NuBarter.
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