This is the authority given to the member by Turk Barter to purchase goods and services above the purchase limit defined in the barter system by getting into debt.
The member’s ability to purchase goods or services with the Barter System is bound to its creating purchase limit in the system. The receivable balance of the member, after the deduction of the commission which will be accrued from the bartered receivables resulting from the sales of the member to the Barter Common Market and of other debts, constitutes the purchase limit and the Member can only purchase goods and services from the Barter Common Market within this purchase limit amount. The member, to make purchases with the amounts above the receivable balance, will have to give securities with the amount and nature that Turk Barter will accept and take Barter Credit.
Security is a legal instrument such as Letter of Guarantee taken from the Banks, Government Bond, Treasury Bill and Real Estate Mortgage, which are given to Turk Barter by the member that wants to use credit in order to cover its debts.
The member has to pay back the debt which is formed by its purchases from the Barter Common Market over the purchase limit, within the 12 (twelve) months after the date of the purchase by selling goods or services within the Barter System. If the member cannot pay back the amount of the goods and services it purchased within 12(twelve) months period through selling its goods and services in the barter system or cannot pay the amount in full, the member is accepted to fall in default at the end of the 12.month after the realization of the purchase. As of the date of default, all current barter debts would gain maturity to be paid in cash.
The capital is the most important import of production. The companies account for the capital that will finance their investments by using their shareholder equities or liabilities. The capital which is the financial value of the previously produced goods, is also the basis which defines the possibility of the studies that are requested to be done in the future. When the companies fail to use their capital efficiently they loose the revenue which is the product of their previous studies; this also removes the opportunity of winning more in the future.
The development of the barter system which has the ability to convert the owned resources into financial achievements in short terms for our companies and our country is realized with our leadership in Turkey.
Turk Barter shows how it is possible to execute Barter trading, which has the claim to offer giant benefits for our country and the commercial establishments, in compliance with the current laws.
As is known; Leasing (Financial Lease) is an agreement that predicts the purchase of the machines, equipments, investment assets or other goods which the Lease holder needs, likes and selects and approves all the technical specifications, from the 3rd Parties that the lease holder had negotiated with and agreed upon.
In this respect various Leasing companies had been established. However the fact that the leasing companies are taking the resources they use from the banks, creates a high cost back payment tables. The leasing credit brings additional costs.
There is no additional cost in Turk Barter Leasing. Because of these costs the companies could not make use of leasing as a financial instrument other than preferring it for products that use of the Value Added Tax advantages.
Turk Barter Leasing: can easily find the leasing instruments in exchange for product or service credit from the Turk Barter common market or from the other markets.
Turk Barter Leasing : What Barter system offers is a medium to long term product and service credit . Turk Barter which administers the Barter trade supplies 12 months financing to the enterprises. The companies have to make payments with their own goods in Exchange for the credit they use from the barter system within 12 months. If the companies cannot pay back the credit they used within 12 months with their own goods, they will have to make the payment in cash. If the company is in cash shortage or in a position that it is not able to make payments in cash, Turk Barter Leasing will get into the picture in order to save the company from such a difficult situation.
The payment period can be extended to 36 and 48 months.
Thus a Barter Leasing contract is signed in between the Barter company and the debtor company.
Turk Barter Leasing company can give credit to the companies with no Purchase Credit and guarantee, through Leasing. In this way leasing credit will be supplied while buying a product that is needed from the market or from the Barter system. When this is done with Barter, destrain amounting to the value of the product subject to this transaction is put on the real estates and/or motor vehicles of the company. When installments are paid in cash and the debt is paid in full the destrain over the mortgage will be removed.
1. For the initiation of the Barter Factoring transactions, the creditor company, that the Factoring agreement will be made with, should become a member of the Barter System with the General Membership Contract. However an additional contract can also be composed together with the provisions and principles of this contract. This contract will be based on the principle that the receivables will be collected in two different ways.
2. The creditor company prepares a list with the amount of the receivables and the detailed explanations of the companies. After the necessary investigations have been done on the debtor companies over this list, the debtors are made members of the Barter system. It is evident that the reason of this membership is to provide the means for the debtor company to pay the debts to the creditor company with the debtor's own goods and services.
3. After the creditor company and the debtor company are made members of the Barter system and after the necessary securities and/or product supply and demand comparisons are ensured, Factoring transaction will be realized.
4. Sample Transaction: Outside the Barter system
Company B owes 100 Billions to the Company B,
5. A preliminary investigation about the creditor and the debtor companies and about the goods and services that they can purchase or sell in the Barter Pool and the determination of their appropriateness will increase the speed of the Factoring transactions.
