FOR INDEPENDENT RECIPROCAL BARTER EXCHANGE AND CORPORATE BARTER FINANCE COMPANIES
CBC is a Clearing Service and provides a service as a facilitator and third party record-keeper for barter account transactions between members and its customers. CBC facilitates the settlement of barter accounts in two currencies (US-Dollar and Euro). It is possible to open further accounts, e.g. for subsidiaries, sales departments and/or purchasing.
REGISTRATION (Apply Online)
Independent Reciprocal Barter Exchange and Corporate Barter Finance Companies can register themselves and its customers with CBC. Registration takes place via the internet. CBC calls barter and barter finance companies MEMBERS and its clients CUSTOMERS. MEMBERS and CUSTOMERS are USERS of CBC. MEMBERS can have its CUSTOMERS registered with CBC on their own terms and conditions. CUSTOMERS can conclude and clear barter transactions through its accounts with CUSTOMERS of other MEMBERS. The CUSTOMER pays fees only to its MEMBER in accordance with the terms and conditions of that MEMBER. The contractual partner of CBC is the barter or barter finance company (MEMBER) and not its clients (CUSTOMERS). Each MEMBER is responsible and liable to CBC Clearing Corporation for its CUSTOMERS and its accounts.
Transaction Fees. $ 75.00 per transaction US-Dollar accounts and € 75.00 per transaction Euro accounts.
Barter US-Dollars and Barter Euros are the currencies of the CBC. Payments are possible in each barter currency if the barter currency has been generated according to the principles of the International Accounting Standards (IAS). Positive balances of other clearing banks/-houses/-systems are accepted on application. The balances will be transferred to the new CBC barter account as soon as the balance in the other barter currency has been ceded and transferred irrevocably to CBC. The transfer of a positive balance from a CBC barter account to a barter account of other barter currencies, clearing banks/-houses/-systems/etc. is also possible on application.
GENERAL TERMS AND CONDITIONS (GTC)
The GTC's are construed and interpreted according to the laws of the United Kingdom. With the Online-Application, the General Terms and Conditions (GTC) of CBC are accepted.