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FAQS

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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