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November 27, 2012

Written by Bob Meyer, Editor of BarterNews

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IRTA & New Bartercard International Group Complete Agreement

The International Reciprocal Trade Association announced that it has completed an agreement with the new owners of Bartercard International Group (BIG), which has agreed to pay 50% of the outstanding trade balances owed to U.S. exchanges by previous licensee Bartercard/USA (BC/USA). BIG has agreed to the BC/USA Program in a good faith effort to address the losses incurred by U.S. exchanges as a result of BC/USA�s closure in 2006.

IRTA President Annette Riggs notes, �This is a remarkable program that is rarely seen in the business world, wherein the new owners of Bartercard International Group stepped-up, agreeing to address past issues of the previous licensee; especially when they have no legal obligation, whatsoever, to do so. IRTA applauds BIG for its noble actions with the BC/USA Program, and we are delighted to play such a critical role in making it all happen.�

BIG�s Chief Operating Officer Trevor Dietz, added, �As the new owners now in control of the Bartercard International Group, we felt it was important to show good-faith to those who trusted the Bartercard name. We are very proud of our business, and are thus driven by our business values. Because of these values, we felt strongly that this was something that needed to be done; not just for us, but for the message it sends to the whole industry. As strong supporters of IRTA, we thank them for responding to this initiative in such a positive and creative way.�

The BC/USA Program will be administered by IRTA�s inter-exchange platform, Universal Currency Clearinghouse (UC). All potential participants must meet UC membership qualification standards, plus agree to the terms and conditions of the BC/USA Program. There will be a 30-day period from the official launch of the program on December 3, 2012, for potential stakeholders to elect to participate.

IRTA extends its thanks and appreciation to the hard-working negotiating teams that helped make this unique program a reality. IRTA was represented by Michael Mercier, John Strabley, Scott Whitmer and Ron Whitney. Bartercard International Group was represented by Trevor Dietz, Brian Hall and Paul Bolte.

For more information contact Ron Whitney, IRTA�s Executive Director, by e-mail ron@irta.com or phone 757-393-2292.

(The following article was submitted by the European Club for Countertrade & Offset.)


ECCO Focuses On China & Financial Structures For Offset

The ECCO Symposium 5, held November 14-15 in Frankfurt (Germany) was sponsored by Baker & McKenzie. Forum discussion on day-one focused on offset in China, with economists, lawyers, international trade experts, and companies doing business in China sharing information and experiences.

Other discussions included restrictions under EU foreign law, the Chinese administration policy on government procurement and global manufacturing, plus trade and technology transfers. Dr. Thomas Gilles, the Chinese expert at Baker & McKenzie, chaired the round table discussion.

The ECCO workshop on the following day assessed legal requirements and financial structures in offset. Dr Andreas Schulz of Baker & McKenzie addressed both offset and offset-like agreements in Europe, while representatives from various leading global companies shared their experiences in countries such as South Africa and Brazil. A presentation on new challenges for political risks insurance was also on the agenda, with a round-table discussion moderated by Mr, Gerd M�ller of the Deutsches Kompensations Forum.

In September 2012, ECCO started preparing for its ISO 26000 certification, addressing seven core subjects of social responsibility with which every international organization is confronted with in its daily activities. Committee member training has been completed and action areas addressed. The stakeholders concerned have been identified and their spheres of influence determined. Next month (December 2012), the committee will define the action plan in order to finalize the project.

ECCO Symposium 6 will coincide with Le Bourget in Paris, France, on 19 and 20 June 2013. The focus will be on both India and reciprocity.

For more information, click here.  

The European Club for Countertrade and Offset (ECCO) is an international forum, sharing information about and best practices in offset and countertrade. In the past two years, ECCO has developed a strong business community related to offset and countertrade. It has also established an academy for training and the enhancement of offset management practices.

Is Your Trade Exchange Missing Out On Valuable New Business?

If your barter company�s listing on BarterNews.com isn�t current, you are definitely missing out on new business. The web site BarterNews.com receives heavy traffic � with over 150,000 page-views every month. Entrepreneurs and corporate executives check the thousands of articles, the weekly �Tuesday Report,� and the �Contacts Section� of our site. They use the latter to find barter companies with which to do business.

Is your barter company�s listing up-to-date?

To keep your listing current is very easy. See the links below to (A) update any changes to your company�s listing, such as new location, phone number, web site or other information, and (B) if your company has not been listed.

Here�s how to get on board:

To make changes to your listing click here.

For new listings click here.


Build Your Wealth Using Barter

While sad, but true, many people in the U.S. will earn over $1 million during their lifetime yet will have nothing to show for their efforts at retirement. Obviously the time to plan for the future is now, because no one wants to take a severe pay-cut when they retire.

One way to get an investment program going is to add one more debt to your stack of bills each month. Begin by writing a check to your savings account, or add a little money regularly to a money market fund.

Another way is through your trade exchange. As a trade exchange member, you can utilize the many investor services (for personal and professional use) of the accountants, attorneys, financial consultants, bookkeeping and tax services, estate planners, real estate brokers and others whenever you are building your wealth.

Then, by using your products or services as a medium of exchange, begin acquiring some of the investment opportunities available on barter � such as:       

  • Antiques
  • Artwork          
  • Coins                        
  • Real estate   
  • Collectibles
  • �144� stock (explain this)

In order to make the most of your investment funds you will want to be conservative in the choices you make, so that you have a solid growth potential.


* * ANNOUNCEMENT * *

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The Law Of Incubation

There are no shortcuts to building lucrative, long-lasting relationships ... especially when it comes to clients who are entrusting their financial futures to you. Adding value to a new business relationship is a first step. Establishing trust over time is the second step, and moves the relationship to the all-important higher level.

As the business relationship grows so will its earning potential, because you�ll have a great advantage over any competition � that of truly knowing your clients� needs. And when you are well equipped to meet your clients� needs, they�re compelled to do business with you. That is the culmination of following the law of incubation.


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