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Minutes Of The Joint Business Meeting Of The Assembly Of Barter Companies Of Europe & Asia, With IRTA-Europe

(Held At The Hotel Napoleon, Paris, France, May 2, 2010)

1. It was moved by Giuseppe Littera, seconded by Dorottiya Szabo, that the Assembly and IRTA-Europe draw up guidelines for international trading among barter companies. Approved unanimously.

2. It was moved by Sanjay Thakrar, seconded by Atul Sharma, that an insurance reserve be established to cover losses from credit extension, based on a percentage of the value of each trade. Approved unanimously.

3. It was moved by Dorottiya Szabo, seconded by Max Giannopoulos, that IRTA-Europe explore the possibility of obtaining funds from the EEC. Approved unanimously.

4. The draft letter from IRTA and the Assembly to the European Commission, proposed to be signed by IRTA President David Wallach and Assembly Chairman Sirri Simsek, expressing the barter industry�s concern that regulations dealing with financial clearinghouses may be construed to apply to trade clearinghouses, and requesting that trade clearinghouses be exempt from regulation of financial clearinghouses, was approved by the Assembly (the decision was unanimous by Assembly members in Paris; members not present in Paris were given an advance copy of the letter and none have objected). The joint letter now awaits action by the IRTA Global Board of Directors.

5. It was moved by Dr. Lee Oi Kum, seconded by Maximilien Urso, that we work to constitute IRTA-Europe as a legal entity. Approved unanimously.

6. It was moved by Dr. Lee Oi Kum, seconded by Nuno Ladeiras, that members present may volunteer to constitute the founder board to draw up the legal foundation for IRTA Europe. Approved unanimously.

7. Whereupon the following persons agreed to constitute the founder board of IRTA Europe: Nuno Ladeiras, Dorottiya Szabo, Guiseppe Littera, Sanjay Thakrar, Dariusz Brzozowiec, and Alina Piddubna. Alina Piddubna agreed to serve as leader of the founder board. These actions were decided collectively, without objection, by the 16 IRTA-Europe members at the Conference, and are deemed approved.

8. It was moved by Sanjay Thakrar, seconded by Dorottiya Szabo, that IRTA-Europe shall have a Treasurer. Approved with one dissenting vote.

9. Sanjay Thakrar nominated Atul Sharma to be elected Treasurer of IRTA Europe; the nomination was seconded by Dorottiya Szabo. No further nominations were received, it was moved and seconded that nominations be closed, nominations were closed without objection, and Atul Sharma was deemed elected unanimously to be Treasurer of IRTA-Europe.

The foregoing minutes are submitted for approval. If revised in a material way, the minutes will be submitted again for approval. If no material revisions are made, on June 8 the minutes will be considered approved by the Conference.

Respectfully submitted,
Member, Global Board of Directors (for Europe)
International Reciprocal Trade Association
Secretary to the Assembly

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