What do you mean by barter?

Barter transaction refers to the direct exchange of goods or services of equal or basic value between buyers and sellers, which does not involve cash payment and no third party. In barter transactions, buyers and sellers use barter contracts to determine the value of traded goods and the types, specifications and quantities of goods or services exchanged. In order to reduce the impact of possible price fluctuations in traded goods and goods and services used for exchange, barter is generally a one-time transaction with a short contract performance period.

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Modern barter trade began in the United States in the 1950s. After decades of development, modern barter has become an important part of business in the 20th century. It is not only a value-added strategy for enterprises to deal with idle assets and overstocked inventory, but also a global trade means and an important emerging industry for enterprises to expand trade opportunities, expand marketing channels and obtain extra profits. 80% of the Fortune 500 companies have set up trade departments. According to the data, the barter trade in the United States has accounted for 30% of the total global commercial transactions. More than 300,000 American companies actively organize barter trade.