Frequently Asked Questions

Below we have listed some of our most frequently asked questions but we’re more than happy to chat with you about your specific concerns.  Use the form below or jump to our Contact Page.

BUYERS

How do I know I'm getting the best price?
As a consumer do your homework, keep ITEX members honest by getting two more quotes.
Is a credit line available if I don't have enough ITEX dollars?
Know your business. Most businesses are only able to do a maximum of 25% barter of their total annual revenue. You control the flow of ITEX clients and dollars. You can open the floodgates or turn it down to a trickle.
I don't see any current members that we could use, why join?
Often when we hear this objection from prospective members. Even after they have looked at our member directory for options, they do not see the scope of how big and powerful the ITEX economy is. For some, it is a legitimate concern. For most, it’s simply a matter of joining and giving our network a try. After 3-6 months most businesses will stay part of our ITEX community and trade with other members for years.
What if disputes arise with a trade I'm making/made?
If members cannot or will not find a solution to their problem. A dispute form can be filled out and sent into ITEX Corporation who will review the case and release their recommendations.
What if I cannot spend my trade credit on things I really need?
Then the program is not working for you. Contact your broker and let them know the details of your situation.  Our brokers may recommend you start the process of closing your account. This involved putting your account on hold and letting the membership network know that you are no longer taking ITEX dollars. Finally, your broker will work hard to help you spend any remaining ITEX balance.

SELLERS

How can Prime Trade NW help increase my sales?
We will promote your business within our ITEX network; through weekly newsletters, monthly networking events, an annual summer fun event, an annual trade fair, through our Facebook page. Ongoing incoming phone calls from members and outgoing calls to members face to face meetings with members and prospects, phone calls and emails to other ITEX brokers and trade directors across the US and Canada. Ads and your business directory on www.itex.com
How do I get paid for my products/services?
You will be paid with ITEX checks, the mobile App or by members buying your services or products on ITEX.com.
What if I do not get any business through the association?
Some industries will get new business immediately, and others will take time. Patience is key here, your marketing dollars are minimal during this period. Hang in there for 9-12 months and if your still not getting any business call your ITEX broker and have them cancel and close your ITEX account.
What if I earn more trade dollars than I can spend?
The most important things for all ITEX members to do is: 1. Stay engaged with your ITEX broker or trade director 2. Come to ITEX networking events and meet your fellow members 3. Login to ITEX.com and search the member directory before you spend cash on anything 4. Get to know the ITEX members you sell to because often they can be a great resource to help you to spend your ITEX dollars 5. Read through the weekly email newsletters and save them to a folder that you can look back on. These are a great resource for new member and featured member information. If after all that you still can’t spend enough ITEX dollars, consider saving for a trip, land or bigger ticket items that come up from time to time on the ITEX marketplace. Ask your broker about putting you as Broker managed for a time. Members will have to call the broker and request your services or products. This will slow down the flow of ITEX dollars.

FEES

What does it cost to join?
Joining Prime Trade NW is FREE.
What is the catch?
A 6% cash marketing fee on all sales and purchases is charged by ITEX Corporation every 4 weeks, 13 times per year. It comes out of your business checking or credit card.
How much does using Prime Trade NW cost me?
There is a nominal monthly membership fee of $25 that is due in cash from your chosen bank.  You will also pay 6% of all ITEX dollars you traded during that month.  If you trade nothing, your transaction fee is $0 and your membership fee is automatically withdrawn at month close.   For example:

  1. You sell a service or product to another ITEX member for $1000.
  2. You then purchase a service or product within the network for $500
  3. Your total fees for close that month will break down as follows:
    • $25 Monthly Membership Fee
    • $60 Transaction Fee for the $1000 purchase (6%)
    • $31.20 Transaction Fee for the $500 sale
    • Total cash fees for the month: $116.20
    • Value of products and services traded: $1500
When are transaction fees processed?

GENERAL

Are there monthly fees involved?
Membership/Association Fees are $20. cash and $10. ITEX every 4 weeks, 13 times per year. Each member is charged a 6% cash fee on every Sale and Purchase made
Can I pay my employees with ITEX dollars and expect that their needs can be filled by the association?
Yes, you can. You can set up a sub-account under your main ITEX account for as many employees as you wish. There is a $5 cash fee charged per sub-account per cycle. As far as their needs being fulfilled, absolutely, as long as they use our members.
Can the association loan trade credit to clients?
ITEX Corporation will extend a credit line to a member who is in good standing. A 1% interest in ITEX dollars will be assets every 4 weeks on the loan.
Do I need to buy from the people I sell to?
No, you don’t. You get paid by the buyer. The ITEX dollars go into your ITEX account. You choose where you are going to spend those dollars.
Do trade dollars have any value outside of the network?
No, you cannot covert your ITEX dollars into cash.
How do members save cash?
There really are too many ways to list them all. When you are about to make a cash purchase, always ask yourself the question: Can I get it on ITEX? You can save cash by calling and using ITEX members and your ITEX currency. Daily, weekly, monthly and annual cash purchases can ad up to thousands of dollars. The local and national ITEX members can help you offset some of those costs; Dentists, hotels, restaurants, travel, entertainment, health professional, attorney fees, hood, carpet, and window cleaners. And so much more…
How does trade work within the association?
Very similar to the cash world. You call or visit the seller, agree on the price for the service or product and then make your payment with an ITEX check or through the ITEX Mobile Apps.
I already trade on my own, why join the association?
Great question! Direct barter has been going on for thousands of years and continues to go on today. The nice thing about joining Prime Trade NW is access to thousands of new customers, the opportunity for you to have your own ITEX account where you do not have to purchase your buyer’s product or service.
If we don't use cash, what do we use?
ITEX currency, our digital dollar!
Is bartering legal?
Yes, in the late 70’s the IRS told barter exchanges that if they wanted to continue to do business they had to have certain things in place like a solid itemized tracking systems, which ITEX corporate already had in place.
What if I quit? What happens to my trade dollars?
Your trade dollars will always be yours, and you will always have access to them.  Ask your broker to put your account on hold. Then the ITEX broker or trade director will help you spend your remaining balance. When your account reaches zero your account will be closed.
What other benefits does barter provide?
Relationships are the number one answer. Prime Trade NW will introduce you to a larger audience resulting in an increase in your brand awareness. Secondly, we help you keep your pipeline full. Most businesses will experence slower times. We will help sell that excess time you have and keep your employees busy. Barter also helps you to generate more revenue; most business owners would rather pay their cost of goods or trade their time for services or products they are looking for. Let Prime Trade NW  help you save your cash by using trade dollars. Being on the ITEX bartering network is a win-win for all businesses!
Who is the president and owner of Prime Trade NW/ITEX?
Arthur and Kimberly Shaw. Prime Trade NW is an independent brokerage within the ITEX Barter Network. ITEX allows businesses to trade with each other for ITEX currency. The brokerage helps build membership on the ITEX network and supports local members in earing more business and spending ITEX currency. Steve White is the CEO of ITEX Corporation and is located in Bellevue, WA.

ACCOUNTING

How does bartering affect my taxes?
The IRS considers Prime Trade NW / ITEX  as the record/bookkeeper for our members. The IRS and States treat trade exchanges just like they would any cash account. Bartering doesn’t exempt you from paying tax, instead is functions as an additional taxable revenue stream available for your business.   Your ITEX account should be treated like you would any other account when doing your taxes. You get monthly accounting statements and are emailed transactions as they happen. At the end of the year, we issue 1099B’s for reporting at the federal level.
Can I use my trade dollars for personal expenses?
Tax accountants have told me that the IRS treats the ITEX dollar the same as cash. If you spend on personal you will have to claim it as income. If you spend on a legitimate business expense you can write it off. Be sure to speak to a tax professional to confirm these statements.
How do I know how much trade income to include on my tax return?
You will have to consult your tax accountant or CPA professional.
How will you keep track of my account?
ITEX is the largest barter exchange in the US and Canada and has an accounting system that will track, each sale, purchase and any and all fees charged. As a member, you can access your transaction history through logging into your ITEX account at ITEX.com

Can't find what you're looking for?

There are so many questions we field about bartering within the ITEX network. If you don’t find what you’re looking for here, please connect with us. We’ll not only answer your question but also post it here for our community of members.

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1869 E Seltice Way, # 374 Post Falls, Idaho

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