How many members are there?
Trade Exchange Canada (TEC) has over 1300 clients in Western Canada of which over 800 are based in the Lower Mainland.
Who are the members?
The membership consists of successful and creative business owners looking to get new business and reduce their company’s cash expenses. TEC have clients in dozens of various industries. Thousands of companies globally use Trade as a powerful business tool to generate new business and reduce their cash expenses.
How do I get new business?
Trade Exchange Canada works with our clients to ensure that their offer is sent out and promoted to the entire client base. When we review companies looking to join we evaluate their offer based on our years of experience in dealing with thousands of companies to assess the best way of generating new business.
What if I am too busy to take on additional Trade business?
If you are not looking for new clients at any point during your membership you simply advise your Trade Broker and they will not send you any new clients until you request it.
What if I do not want to Trade for what other members have?
In a direct Trade transaction there has to be a simultaneous matching of needs and wants (i.e. you have to want what the other client has and vice versa).
In the TEC system you do not have to worry about that because when you make a sale your Trade Dollar account gets credited for the amount of Trade in the sale and then you can spend your Trade with any of the clients in the system. Due to the fact that TEC is always bringing on new clients there are always new spending opportunities coming up all the time.
How do I see who the clients are?
Once you become a client of Trade Exchange Canada you have a Trade Broker assigned to your account that works with you to source the goods and services available. You can also look on our site under the “Trading Centre” to get a feel for the industries we have clients in. TEC does not publish the names of our clients because their trading availability changes from time to time and we broker deals for them. Companies that are interested in finding out more are encouraged to contact a Trade Exchange Canada representative for more information.
What is the process to do a transaction in Trade?
Once you are a client it is as simple as a transaction in the cash world. The only difference is that the transaction is done in Trade Dollars instead of Canadian Dollars. You have a buyer and seller and once you agree on the amount to be process the deal is done and processed into (sale) or out of (purchase) your account.
Do I have to offer all Trade (full Trade) on transactions?
TEC has trading rules in place that allow for certain size transactions to have a cash component.
Can I trade outside of the lower mainland?
Yes. TEC has arrangements with other Trade companies around the world that allow our clients to access goods and services in many different locations.
Why would I accept Trade instead of cash?
Companies join TEC to fill in downtime or move excess capacity using trade. When a TEC client approaches you they are doing so because you accept Trade like they do. Trade is not designed to replace cash. It is designed to bring you new clients to do business with and to use it to reduce your cash expenses.
What is a Trade Dollar?
A Trade Dollar is the currency used in the Trade Exchange Canada network to measure the exchange of goods and services in the network. A Trade Dollar is equivalent to a Canadian Dollar. When you buy or sell in the TEC network you price things at the same rate that you would in a cash transaction.
How does the tax work for Trade transaction?
Exactly the same as it does in the cash world. Any taxes that you would normally charge on a cash transaction are done the same in the Trade world.
Do the Trade Dollars expire?
No. The Trade Dollars are essentially a Trade bank account and they are there to be used whenever a client needs access.
What does it cost to join?
Trade Exchange Canada has a one time membership fee that is paid once your membership is approved.
How does TEC make money?
We charge a transaction fee on each Trade transaction that client’s process through our system (very similar to a credit card company). Our success is based on our clients’ success in being able to get new business and spending their Trade Dollars in the TEC network of companies.
How do I keep track of how much I have bought or sold in Trade?
TEC has a state of the art live software system that tracks all client purchases and sales on a 24/7 basis (we use the same platform as online banking). When a transaction is processed the buyer and the seller receive an automated email detailing the transaction. On the first of each month you will receive an emailed statement that details all your transaction and fees. You can also log into your account or contact our office at any time to view your account information.