What Is Barter Credit

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. 
 

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