ACCOUNTS RECEIVABLE TRADING

 

Most companies have outstanding receivables.  Sometimes due to cash flow, a customer finds it necessary to draw the payment out over a prolonged period and perhaps may never make payment or at best only a partial one.

 

Rather than wait an extended time for the payment or risk never receiving it – referring the customer to Tradebank and giving the option to settle their debt to you in TRADEdollars makes sense.  This can apply to existing trade clients as well as to other businesses that are not yet members.  In these circumstances you can also request a premium in order to accept the debt in TRADEdollars.  (e.g. customer owes you $10,000, you could ask for T$12,500 instead, giving you a bit of an incentive to convert cash to trade)

 

Once you have discussed the option with the customer and interest is shown, the following steps would be taken if the business was not yet a member of Tradebank:

 

1)      Contact your broker to determine if the services / goods the customer provides would be marketable within Tradebank.

2)      The customer would be signed on as a member of Tradebank.

3)      Sales would be arranged through the Tradebank network for the customer’s products or services.

4)      A transfer would be done from the customer’s account to your account – in these circumstances we would require them to prepay fees on transfer as receivable would obviously be risky.

 

Your company would also be eligible to receive the usual referral bonus from Tradebank.  It's a win-win all the way around.

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