barter deal
- A contract between the subjects of the physical exchange, trading under the "goods for goods", currency-free, but evaluated and balanced exchange of goods, made out a single agreement (contract).
Also BS - an exchange transaction where goods (services) supplied in exchange for an equivalent amount on the value of other goods and services.
BS is most popular in foreign trade, as it allows to carry out a direct exchange of goods without using currency. BS is characteristic of relations between the countries that do not have sufficient foreign exchange funds.
Evaluation of goods is made for the purpose of creating the conditions for customs registration, determining the insured amounts, claims assessment. Conditions turnover equivalence - the exchange of goods on the world or negotiated prices, based as world prices are.
Calculations based on mutual claims (fines
penalty) with BS are usually carried out with additional supply or decrease. Other conditions are similar to BS conditions of purchase and sale contract.
The main reason for BS - currency problems (lack of hard currency, its instability, and the like). The aggravation of the problem of the international monetary liquidity increases the weight of the BS in International Trade.
In modern conditions of BS are carried out mainly in foreign trade (especially in foreign exchange restrictions).
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