FAQs
Frequently Asked Questions
What is the Tradebank Network?
The Tradebank Network is a marketplace for businesses of all sizes and helps those businesses to increase sales, enhance cash flow, and improve profit. Tradebank is a central repository of client information and data for all trade transactions that take place within the network. By providing inventory listings online and transactions through personal Trade Brokers, the Tradebank Network ensures clients equal access to products and services information.
I’ve bartered products and services with other businesses. Why do I need Tradebank?
Trading through Tradebank is easier than trading on your own. We expose your business to more new prospects and help you increase your sales. Because Tradebank has a network of over 8,000 member businesses, you don’t need to conduct one-to-one trades (that is, you don’t need to buy from the client you’re selling to). Tradebank makes it very easy to buy the goods and services you need to run your day-to-day business operations.
What are Tradebank Dollars (T$)?
· The T$ is the official currency of Tradebank. Trade transactions between companies are actually converted to trade credits or “trade dollars” (one trade dollar is equal to one U.S. dollar in value) and are reflected as debits or credits in each trading company’s “trade account.”
· The T$ to U.S.$ conversion rate is fixed at 1.00 T$ to U.S.$ 1.00.
· Earn T$ by selling your products or service to another Tradebank client.
· Spend your T$ instead of cash to buy products or services from other Tradebank clients.
When can I sell my products or services? When can I buy?
You can sell your products and services as soon as you become a Tradebank member and list items for sale. You can begin buying as soon as you have sufficient Tradebank Dollars (T$) to pay for the products and services you want to acquire or, in special circumstances have been granted a line of credit. Your T$ balance grows via sales to Tradebank clients.
How will other clients know what I’m selling?
Once you’ve listed your products and services with Tradebank, other Tradebank members will see what you’re selling when they search for the products and services they want, or their trade brokers will inform them when they’ve expressed an interest for your particular product or service.
I purchase everything wholesale. Why would I want to buy products and services via Tradebank?
Many Tradebank clients have established long-term business relationships. Tradebank doesn’t require that you change your relationships. We help you expand your customer and supplier network. Because few businesses can get everything they need wholesale (such as advertising, airline tickets, restaurant meals, or contracting services), Tradebank is a great way to conserve cash by trading for the items for which you have flexibility in vendors.
What is a trade broker?
Tradebank has always placed great value on personalized service. We commit one Business Development Manager/Broker to each client. The broker makes it his or her responsibility to learn and understand, in depth, the clients business and the industry or retail sector in which the client operates.
Your Tradebank broker works closely with you in every aspect of your trade business, your broker will:
Educate you on trading
Promote your business
Send you new business
Assist you in trading
Help you find things you need
Can an individual trade?
Normally, individuals do not have products or services to continually put into trade. Business owners and professionals understand the fixed costs of doing business and the advantage of investing in trade. Each trader buys at their own wholesale, adds a margin or profit, and trades for retail trade dollars. If they can’t make the investment, they don’t trade.
What companies are clients of Tradebank? Is Tradebank for small businesses? Are there any Fortune 1000 companies?
Tradebank members include businesses of all sizes, ranging from sole proprietorships to multinational, Fortune 1000 companies. Tradebank has the critical mass of buyers and sellers, coupled with an extensive brokerage infrastructure, to create the necessary market dynamics that facilitate trading among companies of all sizes.
How does the IRS view purchases and sales via Tradebank?
Sales made through Tradebank are reported to the IRS, as required by law (U.S. $1.00 = 1.00 T$). Members may deduct from their taxes, purchases for business related expenses that are made with Tradebank dollars. Consult a qualified tax consultant for advice and for tax-deductible expenses allowable by law.
Will I pay a higher prices using T$ than with cash?
We encourage you to comparison shop on the Tradebank Network. Choose a seller that provides the greatest value for your T$. Since Tradebank Dollars (T$) are valued at U.S. $1, trade prices should be comparable to cash prices. If you feel that a product or service is priced too high, you can negotiate with the seller or buy from another client
– it’s your choice.
What is the history of Tradebank?
Tradebank International was founded in 1987 in the United States.
In 1996, Tradebank expanded internationally by beginning operations of Tradebank Canada, which now operates 28 offices – currently the largest trade network in Canada: Tradebank Czech Republic in 1998 and Tradebank Slovak Republic in 1999. Today, Tradebank is positioning itself as the leading global trade network with further international and domestic expansion planned.
Do you have more questions? Please use the reply form below or call 251-285-3333. We look forward to working with you!
