GLOSSARY OF TERMS:

Ad

An Ad is synonymous with Listing. A Listing is advertised on the website.

Additional Contact

Contacts on the account who are authorized to make purchases and view account information.

Authorization

Authorizations are used to verify the buyer has sufficient ITEX dollars in their ITEX account prior to making a purchase. An Authorization places the buyer's ITEX dollars on hold until the transaction is completed. The buyer and seller must approve the transaction before the transaction is complete. Authorizations are valid for up to 14 days.

AutoPay

Fees are paid automatically from the members' credit card or checking account on a continuing basis.

Broker

"Broker" refers to an office, person, or staff of people who provide support services to an ITEX member. Services include helping members find products and services they want, finding buyers for their products and services, as well as administrative and financial support services.

Broker Directory

A listing of broker offices throughout the United States and Canada.

CTV

Combined Transaction Volume is the total of all ITEX sales and purchases in any given time frame.

ACTV

Average Combined Transaction Volume.

Cycle

A 28 day period, always ending on a Thursday. There are 13 cycles per year. Statement processing and billing happens at the end of each cycle.

Flagged Listing

A listing that you are interested, but for a later date, can be flagged for easy retrieval in the future.

Funds in Transfer

Setting aside ITEX dollars in a buyer's account longer than 14 days for a pending transaction. ITEX dollars will not be transferred without permission of both buyer and seller.

ITEX Broker

"Broker" refers to an office, person, or staff of people who provide support services to an ITEX member. Services include helping members find product and services they want, finding buyers for their products and services, as well as administrative and financial support services.

ITEX Co-op Logo

ITEX Logo used in an advertisement to be eligible for ITEX dollar reimbursement pursuant to the Co-op Advertising program.

ITEX Check

An ITEX Check functions like a bank check and is the primary method to purchase products and services within the Marketplace using ITEX dollars.

ITEX Trade Director

An employee of an ITEX Broker. The Trade Director's role is to support members. This person helps members find buyers who are interested in their products and services, as well as finding sellers who provide products and services they are interested in.

ITEX Member

A business or individual that participates in the Marketplace.

ITEX Marketplace

Our venue for presenting products and services provided by over 24,000 business members. ITEX is a marketplace of registered businesses that buy and sell products and services with one another utilizing the unique medium of the ITEX dollar, instead of cash.

Listing

A listing is a product or service that is/has been listed in the ITEX Marketplace.

Member Directory

A catalogue of ITEX members throughout the United States and Canada.

Member Listing

A listing of products or services that a member has listed in the Marketplace.

Member Logo

Your company logo or image. The Member logo is displayed in the member directory.

Posting

When a transaction between two members has been recorded in TEAM, our Account Management system.

Primary Contact

Main contact on account. The person who signed the member application and agreed to the User Agreement.

Preferred Member

Members on AutoPay. Preferred members enjoy a reduced fee structure of 6%, are eligible for a credit line up to $2,500 without review, and qualify for the Co-op Advertising Program.

Referral Program

If you refer three (3) new members that become Preferred Members, stay current with fees and maintain membership status, your association fees will be waived for 1 full year (13 cycles).

Signer

The contact on the account that has signed and agreed to the User Agreement and Marketplace Rules.

Transaction

Products and/or services are bought and sold between members using ITEX dollars as the currency. The seller receives ITEX dollars into their account from the buyer’s account, which can then be used to purchase products and/or services from other members.

Want Ads

You can list a Want Ad on the site. Other members can then search for Want Ads that match the products and/or services they have to offer.

W-9 - Form

Form used to report the members tax ID information for the proper reporting of sales on form 1099B to the IRS.

1099B Form

Form used to report annual sales information to the member for the proper reporting of sales to the IRS.