Barter System

If the goods and services demanded are not present in the Barter Common Market, Turk Barter starts company researches, detections, analysis and negotiations. The targeted companies are inquired and visited with a preliminary project. Information is given about the Barter System. The company is informed about the product demanded. If the company has a positive approach as the results of its investigations, applies for membership.

In order to be able to talk about the Barter System, the company should sign the membership contact and become registered in the system that Turk Barter has founded and operated. Another expression used for this process is to set up a Barter Account. The equivalent of setting up deposit accounts while working with banks, is to set up a Barter Account in the Barter system, within the Barter Companies. Thus at the beginning of this process, a contract is made, to ensure the execution of the clauses and the guidelines. The payment of a membership fee is required to become a member. Turk Barter collects membership fee from each of its member companies.

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. .

Supply and Demand information about every company included in the Barter Common Market is registered in the Barter automation system. Supplies are announced to other members included in the system through primarily e-mail, fax, other distribution channels and internet. The Barter Automation system makes comparisons on its own and also through the Brokers. Every supply and demand compared as the result of the investigations, is perceived as a possible transaction. This structure is taken into automatic follow up in a separate field.

Possible Barter transactions as the result of Supply and Demand comparisons are included in the session. During this process the member parties are confronted through the Turk Barter Brokers. Necessary support and consultancy is supplied for the Barter transaction to be realized.

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, by conveying the authority code information, requests the buyer member to issue Barter Cheque. The Barter Cheque is a valuable paper that ensures the authenticity and accounting of the barter transaction. The Barter Cheque is used in three copies within the application. The Cheque is forwarded to the buyer, seller and Turk Barter. This responsibility of this activity is given to the Seller by the system. The Barter transaction is finalized when the cheque copy of the Barter transaction reaches the Turk Barter Headquarters. The account is closed and the transaction settlement is done.

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.