How do I obtain an authorization number for a barter sale?
There are three ways to obtain an authorization number for a barter sale:
The seller can call the BBE office at (919) 469-5538 Monday through Friday from 9:00 am to 5:00 pm to get an authorization number from a BBE employee.
The seller can call the 24 hour phone line at (919) 469-5548. Press #1 for authorizations. Enter the buyer’s account number followed by the # sign. Enter the seller’s account number followed by the # sign. Enter in the amount in dollars and cents followed by the # sign. The automated system will issue an authorization number or state that the transaction is not approved.
The seller can log into the BBE Marketplace to get an online authorization number. On the BBE Marketplace homepage, click the “Authorization” link located directly above the photo of Raleigh. This link will take the client directly to an online authorization screen. Enter in the “Seller Account Number”, the “Buyer Account Number”, the “Transaction Amount” in dollars and cents, and the “Description” of the products and services purchased. Click the “Verify Information” button. Review the information and click the “Click here to Authorize Transaction” button. It will state “Transaction Approved and the Transaction # is” for all transaction numbers that are authorized. Please write the number on the 3-part form. If the transaction is not approved, client will receive this message, “Transaction Not Approved”.
What are the most important selling procedures?
In order to receive credit and guarantee payment for a barter transaction, the Seller must do all of the following:
The buyer must present his or her barter card to the seller at the time of purchase. However, if the buyer is paying with gift cards, gift certificates, or scrip that has already been purchased from the BBE office, it is not necessary for the buyer to present a barter card.
Sellers will provide their goods and services at their prevailing retail prices for 100% trade.
The seller is responsible for collecting all taxes and gratuities owed in cash from the buyer.
The seller must complete a 3-part form for each transaction. Each 3-part form must have the buyer’s company name, the buyer’s account number, the seller’s company name, the seller’s account number, the date of sale, a short description of the products and services sold, the barter amount (before sales tax), a BBE authorization number, and a legal signature. The buyer’s signature acknowledges satisfactory receipt of the products and services described and authorizes BBE to debit the buyer’s account in accordance with the BBE Trading Policies and Procedures. If the buyer is not present, fax or mail the slip to the buyer for the signature before releasing the products and services.
The seller must call BBE at (919) 469-5538 for an authorization number before releasing products and services. Authorizations can also be obtained 24 hours a day online in the BBE Marketplace or by calling BBE’s 24-hour phone line at (919) 469-5548. Once the seller receives the authorization number for the total amount of the trade (before sales tax), the barter dollars are removed from the buyer’s account. At the beginning and end of each business day, all authorized transactions are reviewed for data entry errors and posted into the seller’s account.
The seller must mail the top white copy of the signed and completed 3-part form to: Barter Business Exchange, Inc., 1125 Kildaire Farm Road, Suite 207, Cary, NC 27511.
If the signed 3-part form is not submitted to the BBE office within 30 days of issuance of statement, BBE has the right to reverse the trade. In this event, it will be the responsibility of the Seller, NOT the Barter Business Exchange, to collect all monies owed from the Buyer.
Special instructions for special orders, construction jobs, service work, long-term leases, and other work-in-progress trades: If the trade involves special orders, construction jobs, service work, or long-term leases and other work-in-progress trades, the seller should always give a written estimate to the buyer before they start the job. These sellers should also obtain a work-in-progress deposit / down payment in barter dollars in the same non-refundable manner as a cash transaction. This is done with a 3-part form and work-in-progress authorization number. Work-in-progress deposits and down payments are considered normal trades. The final payment will not be credited into the sellers account until the job has been 100% completed by the seller and BBE receives a completed 3-part form authorizing final payment.
Special selling instructions for restaurants and eating establishments that accept BBE scrip for payment: Clients must sign the back of their scrip on the signature of bearer line in the upper right hand corner when the scrip is used. In order to receive credit for the used scrip, the restaurant must submit the used scrip to the BBE office. The BBE office administrator will credit the sellers account for the total amount of scrip received. The seller will receive a receipt in the mail confirming receipt of used scrip.
Special selling instructions for gift cards and gift certificates: If the gift card or gift certificate is purchased from the BBE office, it is not necessary to complete a 3-part form or return the used gift cards and/or gift certificates to the BBE office. If the buyer purchases a gift card or gift certificate directly from the seller, the seller should complete a 3-part form like a normal transaction.
How can I get more barter business?
Here are some easy ways to get more barter business in the BBE network:
Get to know your barter brokers! BBE has two full-time barter brokers to service your account. These are the people who sell your products and services to other barter BBE clients. Teach them about your business and why you are GREAT at what you do! They are your FREE sales people. Ask them to promote your business to the other clients! The more they know about you and your company, the better they will be able to sell your products and services to the other clients in the BBE bartering network!
Make sure that all of the products and services offered by your business are posted on the BBE Marketplace, BBE’s online membership directory. The cost is free. BBE clients can list all of their different businesses on BBE’s Online Membership Directory at no additional charge as long as one monthly statement is required.
Make sure that the BBE Marketplace has your business website for FaceBook, Twitter, LinkedIn, and Google + accounts posted in your company description. BBE clients can list these personal sites in their BBE Marketplace description to allow interested clients to link to directly link their detailed information.
Ask your barter brokers to be advertised in the BBE Marketplace. Do you have a one-time special offer? Ask to be featured in the daily “Spotlight” on the BBE Marketplace’s homepage. The cost is free. Ask to be advertised as a “Featured Client” or a “Popular Trades” on the BBE Marketplace’s homepage. Ask about being featured in the “Sponsored Ads” that are displayed next to each individual client’s barter description. The cost is free.
Advertise your products and services on the three weekly broadcast emails that are sent to all BBE clients and debit card holders with an email address. The cost is free. All advertised offers must be 100% barter. BBE sends out three broadcast email each week and limits it to 10 client advertisements per email. New BBE clients, one-time offers, and BBE clients that have not been advertised in over 90 days always take precedence over existing BBE clients that have already been advertised. We also send out two broadcast emails each week to promote specific themes. The themes for these emails are designed one full year in advance. For example, all BBE florists are advertised on Valentine’s Day fax that is sent out in the first week of February.
Advertise your products and services on the daily broadcast emails that are sent to national and international barter exchanges that accept BBE dollars for payment through the Barter Association National Currency (BANC) and Universal Currency (UC). The cost is free. All offers must be 100% barter. Contact your barter broker via phone, fax, or email with a short description of your products or services, asking prices, and photographs, if possible. Ongoing offers will be also posted on BANC and UC web sites. A BBE barter broker will contact you when we hear from a potential buyer.
Attend the BBE Holiday Fair. The cost if free. BBE hosts a Holiday Fair each fall. It’s a great way to network with other business owners in a fun and relaxed atmosphere. BBE also rents booths to members that have holiday products for sale for a nominal barter fee.
When should I give a written estimate?
The following procedures apply to trades involving special orders, construction jobs, service work, or long term leases and other work-in-progress transactions. The selling client should give a written estimate to the buying client BEFORE authorizing work to begin; if the written estimate is more than five hundred ($500.00) barter dollars. This is done with a 3-part form and work-in-progress authorization number. Selling client must obtain a work-in-progress authorization number from the BBE Trade Department BEFORE THEY START THE TRADE. BBE will only issue a work-in-progress authorization number for the barter amount in the Buying Client's account. BBE will not issue work-in-progress authorization numbers for buying clients who are not in good standing. Work-in-progress deposits and down payments are considered normal trades. Clients are required to follow applicable policies and procedures.
What is a work-in-progress transaction?
The sellers should obtain a work-in-progress deposit / down-payment in barter dollars in the same non-refundable manner as a cash transaction for all large transactions. This is done with a 3-part form and work-in-progress authorization number. Work-in-progress deposits and down payments are considered normal trades. The final payment will not be credited into the sellers account until the job has been 100% completed by the seller.
What is “on hold”?
On occasion, clients may request to have their account temporarily placed “on hold” because they do not want any more barter business. Clients typically go on hold if they are too busy to accept new barter business and/or when they have earned too many barter dollars. The barter brokers will not advertise clients that are “on hold” and they will not be listed in the BBE Marketplace membership directory until they become active.
How can I go “on hold”?
BBE may place your account "on hold" (not accepting barter business) status under the following conditions: 1.) Client's account must have a positive barter balance. 2.) Client must give written notice to the BBE Trade Department. On hold status cancels contractual commitments by BBE regarding exclusive territories or other applicable agreements. It is the client’s responsibility to contact the BBE office when the client wishes to go off of hold.
When are part cash / part barter transactions permitted?
BBE may authorize clients who have to order “special order parts” to charge cash for these parts. This only occurs when a selling client has to purchase a special order product that they do not normally carry in stock. For example, a plumbing contractor will provide all of his labor and services for 100% barter; however, he will not barter for a new water heater that he has to special order. It will clearly state in the client’s BBE Marketplace listing under the “Notes” section if there are products that are not available on barter.