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Barter; and Barter as a Method to Pay for Goods and Services
Barter is a method of exchange in which goods or services are exchanged for other goods or services without the use of money. Barter trade is common in societies where no reliable monetary system exists. A barter agreement typically defines and describes both parties' rights and responsibilities. The seller of goods is paid with an exchange of assets. Barter is common in certain countries, but exceedingly uncommon in the United States and other advanced economies. Bartering is or involves the exchange of goods and services among businesses. Most credit professionals in the United States will not be exposed to barter in their professional careers.
Edited by Michael C. Dennis.