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In 2007 BizXchange, a barter network on America's west coast, opened a branch in Dubai.
And since credits have no value outside the barter network, credits not spent are credits wasted.
After a year's trial period, OurGoods.org, an online barter network for designers and artists in New York City, is open to the public.
"Everyone is treated like a first-class paying customer," said Lois Dale, president of Barter Advantage, a formal barter network based in Manhattan.
His haul was the fruit of a barter economy in which he amasses "trade dollars" by swapping services with other members of the International Monetary Systems barter network.
These are the questions that drove a group of creative young New Yorkers to band together, shortly after the 2008 market crash, and form a barter network called OurGoods.
Similar(51)
It tracks 125 formal business barter networks worldwide.
Many of them now use formal agreements or barter networks that require annual dues, usually around $100, and are based on elaborate point systems.
That is in addition to the nearly $8 billion in goods and services reported last year by businesses participating in formal barter networks worldwide, according to the International Reciprocal Trade Association in Rochester.
The International Reciprocal Trade Association IRTAA), which represents about 100 barter networks around the world, says its adherents expect their trading volumes to rise by around 15% this year.America is by far the biggest market for such "corporate barter".
Barter companies make money in two ways: by charging a fee to join barter networks, which they build and administer, and by charging a percentage of the cash value of each deal, typically 5 to 16percentt.
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