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FAQ
Whether your needs are business or personal, reciprocal trade offers you an
opportunity to exchange your service(s) for another professional's
service(s), without cash outlay. With the current struggling economy, it's
often difficult to lay out funds for services. Bartering is a convenient
way to get what you need - or want - without paying for it!
Certain barter arrangements may include minimal monetary outlay for costs of
goods required for provision of service. (Example: A Painter may offer you
his time to paint, but may require you to purchase/reimburse the paint
supplies.)
The value of your service(s) and time should ideally match that of your
bartering partner. Occasionally, however, you and the other bartering agent
may not require services of equal value. It's then your prerogative to
creatively resolve the value differentials, possibly with issue of a credit
for future services to be rendered. The details of your arrangement are
best clarified in a contract. It's
always best to formalize business arrangements - even reciprocal trade - in
writing, to avoid misunderstandings. (Example: A Web Developer wishes to
install a new bathroom in their home. The Plumber's valued costs of
installation and purchase of fixtures is estimated at $4,000.00. The Web
Developer can offer a site to this Plumber for $4,000.00. Or if the Web
Developer's bill to the Plumber would be $6,000.00, the Plumber can offer a
credit to the web Developer for the balance, good for use for a designated
period of time.)
It's important to carefully research local, state and federal tax laws and
other regulations to properly implement reciprocal trade. This site offers
contact information of individuals who believe in this fast-growing trend of
trading services. It's also important to carefully check references before
implementing barter. As with all areas of business, it's best to establish
an environment of trust with your bartering partner, even though no money -
or limited money - is actually exchanged.
As more professionals register in this database, your options grow
exponentially. The ability to exchange services offers one service options
that would otherwise have been difficult to obtain. Save your dime - Trade
your time!
Before you People Trading Services, you may wish to contractually establish terms with the other party. A contract is an effective way to delineate mutual responsibilities to ensure successful barter. You may wish to consult an attorney for advice on this matter.
You may obtain a sample contract provided by PeopleTradingServices.com, by clicking here (this is an Adobe Acrobat PDF document).
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