How does the system works
1. The Barter system is introduced to the company by Turk Barter.
2. The company signs the Membership Contract.
3. The membership file is examined by the board. Member is accepted.
4. Supply and Demand data are recorded. These are announced to the system.
5. A session is formed. The parties are brought together.
6. Agreement is reached for the Barter Transaction. The transaction is approved.
7. The Buyer issues the Barter Check.
8. The Seller account is credited.
9. The Buyer account is debited.
System introduction
Turk Barter, in case the goods or services demanded from the Barter Common Market are not available, initiates company research, examination and negotiations. The targeted companies are investigated and visited with a preliminary project. Information is given on the Barter System. The company is informed on the demanded product. In case the company’s approach is favorable following its investigations, the company applies for membership.
Membership contract
In order to be able to refer to the Barter System, it is necessary to be registered in the system formed and operated by Turk Barter, by signing the membership contract. Another expression of this process is having a Barter Account opened. In the Barter System, having a Barter Account opened within Barter Companies is the equivalent of the deposits account opened when working with banks. At the beginning of this process, a contract is definitely made so that the terms and conditions can be implemented. Payment of a membership fee is essential for membership. Turk Barter collects a membership fee from all companies that are members.
Membership Application
The company which requests the starting of the membership process makes the necessary preparations. In order to do so, the documents required by Turk Barter are; 2 copies of Membership Contract, Member Inquiry Form, Supply Notification Form, Demand Notification Form, Company Inquiry Form for the Company targeted to make sales to, Company Inquiry Form for the Reference company that purchases are done from, Fax Covenant, List of Authorized signatures, Tax Declaration Sheet, Articles of Incorporation, Commercial Activity Certificate. Whilst these documents are requested in the beginning, when a purchase transition subject to security, that is to say credit usage, is needed in the future, the officially indorsed documents that constitute resource for financial and credit inspections are required. When the required documents are prepared, an application is made to the Turk Barter headquarter through a Broker. Each application is investigated by the Commission and approved. A Barter account is opened for each approved application. .
The supply and demand data of each company included in the Barter Common Market are recorded in the Barter automation system. Supplies are notified to other members included in the system especially by e-mail, fax, various media organs and the internet. The Barter Automation system makes a match both itself and through the Brokers. Each supply and demand matched upon investigations is perceived as a potential transaction. This structure is taken under automatic monitoring in another area.
.Session Monitoring
Upon Supply and Demand matches, potential Barter transactions are taken within the scope of sessions. During this process, the member parties are brought together through Turk Barter Brokers. They provide the support and consultancy required for the substantiation of the Barter Transaction.
Authority Code Demand
When an agreement is reached in between the Buyer and Seller member, the Seller member calls the Turk Barter Headquarter and presents the information about the Barter transaction and requests approval. Turk Barter Credit Risk department investigates this request. Whilst transactions below a defined value are concluded at the moment the request is done, transactions over a certain limit are included in the investigation process. After investigating primarily the buyer member to see if the buyer has sufficient credit, if the situation acceptable, an authority code is given. The Authority Code communication system uses security means according to the amount of the transaction.
The seller member provides the authority code data it has received to the buyer member and requests the issuance of a Barter Check. A Barter Check is a valuable paper that allows the authenticity and accounting of barter transactions. In the Barter Check application, three copies are used. The check is conveyed to the buyer, seller and Turk Barter parties. The liability for this activity is given to the Seller by the system. When the check copies of the Barter transactions reach the Turk Barter headquarters, the Barter transaction becomes conclusive. Transaction conclusion is made by closing the accounts.
The Registration of Barter System
The Barter accounts of the members realizing Barter transactions are followed up by Turk Barter. Furthermore every member follows up the Barter transactions by registering the transactions under the accounts with 120 prefix within its own accounting system. The member realizing sales as the result of a Barter transaction is credited in the Turk Barter accounts. The buyer member of the same transaction is debited simultaneously.
