BARTER CLEARING BANK
A WORLDWIDE TRADE EXCHANGE BARTER BANKING SYSTEM
FOR INDEPENDENT RECIPROCAL BARTER EXCHANGE AND CORPORATE BARTER FINANCE COMPANIES
Payments are possible in each barter currency if the barter currency has been generated
according to the principles of the International Accounting Standards (IAS).
BCB is a Barter Clearing Bank and provides a service as a facilitator and third party record-keeper for barter account transactions between members and its customers. BCB facilitates the settlement of barter accounts in two currencies (US-Dollar and Euro) without exchange rate risks. It is possible to open further accounts, e.g. for subsidiaries, sales departments and/or purchasing, etc. BCB is a Barter Bank, not a Barter Company. BCB itself is not active in the barter market and therefore does not compete with barter companies. BCB is solely in charge of the barter accounts and the clearing of barter account transactions.
REGISTRATION (Apply Online)
Independent Reciprocal Barter Exchange and Corporate Barter Finance Companies can register themselves and its customers with BCB. Registration takes place via the internet. BCB calls barter and barter finance companies MEMBERS and its clients CUSTOMERS. MEMBERS and CUSTOMERS are USERS of BCB. MEMBERS can have its CUSTOMERS registered with BCB 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 BCB is the barter or barter finance company (MEMBER) and not its clients (CUSTOMERS). Each MEMBER is responsible and liable to BCB Clearing Corporation for its CUSTOMERS and its accounts.
NO Annual Fees, ONLY Transaction Fees. $ 10.00 per transaction US-Dollar accounts and € 10.00 per transaction Euro accounts.
Barter US-Dollars and Barter Euros are the exclusive currencies of the BCB. 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 BCB barter account as soon as the balance in the other barter currency has been ceded and transferred irrevocably to BCB. The transfer of a positive balance from a BCB 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 States of America and the State of Delaware, because the BCB Clearing Corporation is a Delaware corporation. With the Online-Application, the General Terms and Conditions (GTC) of BCB are accepted.
Rev. November 2017
© 2002-2017 BCB. All rights reserved.