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GLOSSARY OF COMMONLY USED TERMS

1099-B
As required by the Internal Revenue Service, a 1099-B is mailed to each account in February totaling their sales for the previous year. The information is forwarded to the Internal Revenue Service.

3-Part Form or Trade Voucher
A sales slip provided by New England Trade that shows each barter transaction and authorization number.

Third Party Record keepers
A sales slip provided by New England Trade that shows each barter transaction and authorization number.

Authorization
Number given to all purchases and sales to confirm the transfer of trade dollars from one account to another.

Cash
Any method of payment (credit card, check, or cash) other than barter.

Credit Line
Trade Dollar Credit Line allows you to overspend your barter account by a pre-determined amount. Credit Lines must be approved in advance.

Intercity
A barter company in another part of the country that New England Trade trades with. These exchanges provide us with travel and restaurants in their local area.

Monthly Statement
Detailed invoice showing all of your barter purchases and sales for the most recent month.

Reciprocal Trade Exchange
A barter company in another part of the country that New England Trade trades with. These exchanges provide us with travel and restaurants in their local area.

Retail Trade Exchange
Operated independently, Trade Exchanges use computers and Trade Brokers to match the needs and wants of their customers. Most of the customers are small to medium sized businesses (under $50 million a year in sales).

Trade Broker
The Trade Broker is the Account Manager assigned to your account to help in all areas of barter. From helping you get new customers to spending your earned trade dollars. Your broker is a valuable asset to making your barter experience, easy and enjoyable.

Trade Dollar
A Trade Dollar is an accounting unit used to record the value of trades. A "trade" is a barter purchase or sale of goods and/or services whereby payment is made in trade dollars posted to Client's account pursuant to these Terms and Conditions.

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