Barter 101: Glossary of Terms
Authorization Number: A computer generated number issued to record and track each barter transaction in our system. Upon
authorization, funds are transferred from the sellers account to the buyers account. It is the sellers responsibility to obtain "authorization" before releasing merchandise or performing service.
Barter Dollar: Unit of measure for barter/trade transactions.
For accounting purposes a barter dollar is equivalent to a cash
dollar. Barter dollars are defined as "...a non-monetary asset that
operates like cash". Also referred to as Barter Credits, Trade
Dollars, and Trade Credits.
Broker: An AOB staff person who assists members to earn andspend barter dollars.
Credit Line: An amount that qualifying members may spend that exceeds the amount of earned barter dollars.
Maintenance Fee: The AOB monthly service charge.
On Hold: A member can be placed "ON HOLD" and restricted from spending in the system. This is usually due to nonpayment of cash fees.
Recip: Another barter company with which AOB has a "reciprocal" trading relationship.
Scrip: Corporate or Private currency. AOB issues its own "Scrip"commonly used for small transactions.
Spend Down: Spending earned barter dollars before taking in additional trade business.
Stand By: At the members discretion, they may go on "Stand By" meaning they are temporarily unavailable to sell but are allowed to make purchases.
Trade Balance: The amount of barter dollars in a member's trade account.
Trade Credit: See Barter Dollar
Trade Dollar: See Barter Dollar
Trade Exchange: A barter company.
Trader Update: An AOB publication indicating what is new, selected members seeking business, and other trade opportunities and information. Trader Updates are included in each monthly statement.
Transaction Fee: The cash commission AOB charges for each sale and each purchase.
Transaction Slip: The three part form used to record all transactions within the AOB system. Transaction Slips usually accompany the normal invoice generated by the seller. Forms are fee. Call AOB to order.