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| How Tradefirst's Business-To Business Trade Exchange Works |
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| Overview |
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As
a business to business trade exchange Tradefirst is an interactive
corporate trading system which provides client companies
with the facility to use their own product or service to
buy other goods and services within the local and international
exchange network. For small and medium sized businesses,
the immediate benefits are significantly reduced cash
expenditure and improved cash flow while for
larger companies the primary motive is the increased
sales and market share that occurs through the exchange
process. |
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No
direct exchange, one off contra or barter deals ..! A
Trade Exchange should not be confused with direct barter
or contra-trade; - the exchange of goods for goods between
two parties. |
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The "Products and Services" Bank ..! A Trade exchange
is a bank which deals in products and services instead of
monetary transactions. Tradefirst maintains a continuously
updated database of thousands of products and services (
80% Business to business / 20% home, leisure & travel )
available in Ireland and worldwide from which each client
can source their specific needs.
The process of buying and selling is managed using a
debit and credit accounting system just like a bank - each
client company has an account just like a bank current account,
uses a Tradecheque book to pay other clients and
receives monthly statements detailing all transactions and
balances.
The system is designed to completely eliminate the restrictions
of direct exchange while at the same time is as simple to
use as a bank account and is compatible with all accounts
software packages. |
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You
buy from us..............and we will buy from you.
Typically, a client, working within agreed credit
limits, buys a variety of products/services from a range
of suppliers. They are invoiced as normal and pay the supplier
as normal but with a Tradecheque, not a bank cheque. This
generates a debit balance on their Tradefirst account. This
balance is later reduced through extra sales of their own
product / service to other new clients within the exchange. |
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Prices
and terms are negotiated between buyer and seller as normal
and valuations are in Euro and referred to in Trade Euro
(TR€) to distinguish Tradefirst transactions. |
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Interest free credit / No sales commission ..! Tradefirst charges
no commission on sales generated through the exchange and
no interest on debit (overdraft) balances. A nominal annual
account maintenance fee of €380.00 (or €39.99
monthly) plus VAT is payable and a fixed rate of 8.25%
is charged on completed purchase transactions only. |
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| More on how it Works |
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