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Fillable Form Barter Agreement

A barter agreement is an agreement in which goods or services are exchanged to cater to the needs of the involved businesses. This contains different contract conditions between two (2) parties.

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What is a Barter Agreement?

A barter agreement is a document used during a trade of goods or services without the use of money.

Barter is a type of arrangement common between two (2) parties that have been repeatedly transacting business with each other. It is a way of transacting business without the use of cash. You can get what you need in exchange for what you have.

How does barter work within a Barter Exchange?

Businesses sign a contract to join a barter exchange, agreeing to offer their products and services in exchange for Trade Dollars, instead of cash during transactions. For example, if a barter exchange member sells $1000 worth of products to another member, they receive $1000 in Trade Dollars credited to their barter exchange account. These Trade Dollars can then be used to purchase from the other trading clients within the barter network. The barter exchange is a third-party record keeper, providing monthly statements, which reflect all barter purchases, sales, fees, and current trade dollar balance.

Who uses a Barter Agreement?

The Barter Agreement is to be filled out by two (2) respective parties who agree to exchange goods and/or services under specified conditions. The Agreement must be governed under the laws of a certain state wherein the two parties will make the agreement.

How to fill out a Barter Agreement?

To fill out a Barter Agreement, the two parties involved must be present. They are required to fill out the document completely with the necessary information needed by the form.

  • THE PARTIES

The first section requires the date when the agreement was made. After filling out the date, the names of the parties involved are required to be entered in Party A and Party B respectively. The addresses of the parties are also required to be entered. Party A and Party B are the participants of this agreement and they agree to exchange goods and/or services.

  • THE OFFERING

Enter the goods and/or services that will be offered to each party. Provide the monetary value of the offerings. The offerings provided are approved upon by both parties and the monetary value is agreed upon by both parties.

  • DELIVERY OF GOODS

Mark “On a specific date” if there is a specific date when the delivery of the offerings will be done, enter the date of the delivery. Mark “For an ongoing agreement” if there is yet to be a specific date for the delivery and it is currently in discussion between the parties.

  • GOVERNING LAW

Enter the state where the agreement is being made and governed by the law.

  • EXCHANGE OF GOODS

The parties involved in the agreement fully agree to the timeframe of the delivery of the offerings and any changes that will be made must be presented in writing.

  • RIGHTS TO OFFERINGS

This section refers to the rights of both parties to their goods and/or services presented in Section II, which will be exchanged between them. If the offerings are goods, then they must be transferred legally and free of any liabilities and can be sold at a later time. If the offering(s) is a service, then the service can be legally carried out under Local, State, and Federal Law.

  • HOLD HARMLESS

The parties must compensate each other, along with any other companions against any and all claims, demands, lawsuits, losses, liabilities and any other complications arising from the agreement.


  • ADDITIONAL TERMS AND CONDITIONS

Enter any additional terms and conditions present in the agreement.

  • SEVERABILITY

This section states that if there are any provisions or conditions in this document that will be invalidated and voided by a court of jurisdiction, the other provisions or conditions are not affected.

  • ENTIRE AGREEMENT

This section states that the agreement between both parties is agreed upon with full understanding and replaces all prior agreements.

Signature of the Parties

Enter your signatures.

NOTE

After filling out the agreement, terms have been met and no other errors and complications are to be considered. Review the agreement to make sure that everything is clear and agreed upon by both parties. There should be no false or misleading information present on the agreement as it may result in penalties or imprisonment.

Where to submit a Barter Agreement?

Since the Barter Agreement is made by two (2) parties, the document must be validated by a judge or a lawyer and is deemed a valid agreement. After it is validated and the document is signed by both parties, then they are legally compelled to deliver or perform their duties to each other.

Termination of the Agreement

The barter agreement is terminated once both parties have delivered their offerings to each other. But if the agreement is still ongoing and one of the parties wants to terminate the agreement, they must need to send a termination letter. A barter agreement termination letter is a document that is sent to the other party, notifying them that the ongoing agreement will be terminated. The termination must be agreed upon by both parties. The letter must be signed by both of the parties as an indication that they have both agreed to terminate the ongoing agreement.

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