The following section provides answers to frequently asked questions about the ITEX Marketplace. If you cannot find the information you need please contact us our Support Team or call 1.800.277.9722.
Q: How does the ITEX Marketplace work?
A: Member businesses buy and sell products and services with one another utilizing the unique medium of the ITEX dollar, instead of cash.
Q: How will the ITEX Marketplace help my company?
ITEX members enjoy many benefits. The three primary benefits:
Q: What can I sell?
A: You can sell virtually anything in the ITEX Marketplace, from extra stock, unfilled space (those rooms or tables that are not reserved), to extra time (those lag times between assignments).
Q: With whom can I buy and sell?
A: You can buy from, and sell to, any of our thousands of member businesses.
Q: Is the ITEX Marketplace for consumers or businesses?
A: The ITEX Markeplace is a venue designed to facilitate non-cash transactions between businesses. Individuals can also participate in the Marketplace.
The following section provides answers to frequently asked questions about the ITEX Marketplace. If you cannot find the information you need please contact our Support Team or call 1.800.277.9722
Q: How do I advertise my business?
A: Simply register online. As part of the process you will be prompted to enter a description for your business. If you are already a member, tools are provided on the My Account page to change your business description and add Listings.
Q: How do I list a product or service for sale?
A: Simply Sign In to the ITEX.com site and you will be brought to the My Account page. Here you will find a link to Add a new Listing.
Q: How do I add my company logo or image to my business directory listing?
A: You can add a company logo or image when you initially register, or later by Signing In, going to My Account, and clicking on the Edit button below your current image. Your image should be in .gif or .jpg file format and be no larger than 512K in size. For the best image quality your image should be no smaller than 135 X 135 pixels and be square in shape. If you need help call 1.800.277.9722.
Q: How do I add a picture or image to my Listing?
A: You can add a picture or image when you initially add a Listing or you can add a picture or image to an existing Listing by going to My Account, and clicking on the link for My Listings. If you need help call 1.800.277.9722.
Q: What if I made a mistake when I added my Listing?
A: You can edit any of your Listings by signing on to itex.com, going to My Account, and clicking on the link for My Listings. Click on the link for the listing you wish to edit.
Q: How long will my advertised listing run for?
A: A listing is advertised for 60 days.
Q: Why isn't my Listing showing up in the ITEX Marketplace?
A: ITEX reviews all Listings prior to posting them to the website in order to maintain the highest level of quality. ITEX reserves the right to edit or delete any Listing on our site. ITEX will e-mail you the changes made to your Listing or the reason for deleting your Listing.
Q: What if my product or service does not sell?
A: If your product or service is not selling you may want to give it a more detailed description or provide an image. You may also want to reconsider your price; other members may think it is too high. If you need any assistance please contact our Support Team or call 1.800.277.9722.
Q: How do I buy a product or service?
A: Purchases can be made online, or through your broker office or trade director. If the buyer and seller know one another they can quickly buy or sell by signing in and going to the Transactions link on the My Account page.
Q. How do I know if the amount is in US or Canadian dollars?
A: All listings are assumed to be in US dollars unless otherwise noted. Listings in Canadian dollars will display "CAD" after the amount.
Q: How does buying and selling online work?
A: When a purchase is initiated online, an email is sent to the seller notifying them of the purchase request. The email to the seller provides a link back to itex.com, where the seller can then approve or deny the sale. When the transaction is completed, an email will be sent to the buyer, the seller, and the broker.
Q: Can I negotiate a transaction?
A: On itex.com you are encouraged to contact the seller or your trade director to discuss the transaction. Treat ITEX transactions as you would cash transactions.
Q: In My Account, there is a Make a Purchase link. What is this for?
A: Make a Purchase is used to initiate a transaction between the buyer and seller. The buyer is responsible for completing the transaction form. By completing this form the buyer authorizes ITEX dollars to be placed into the seller's account. The seller can also initiate the transaction.
Q: Can the seller initiate the transaction?
A: Yes, a seller can initiate a transaction by completing the "Authorize a Sale" form found in the Transactions section under My Account. The ITEX dollars going into the seller's account for the transaction will be placed on hold for 48 hours. It is the seller's responsibility to receive, retain, and produce upon request, written authorization from the buyer for each transaction posted.
Q: What if I receive a product that was misrepresented or defective?
A: Contact the seller of the product and try to resolve the issue. ITEX acts only as a venue for facilitating transactions and is therefore not responsible for or liable to ensure the quality of the products or services you purchase. If the problem persists please contact your trade director.
Q: How do I reverse a transaction?
A: The seller has the ability to reverse a transaction if necessary. Go to My Account and click on the Return a Transaction link. If you return a transaction, an email will be sent to the buyer, the buyer's broker, and the seller's broker. Eligible transactions are defined as transactions posted to your account from this site in the last 28 days.
The following section provides answers to frequently asked questions about the ITEX Marketplace. If you cannot find the information you need please contact our Support Team or call 1.800.277.9722.
Q: Why should I provide my credit card number?
A: To automatically pay ITEX Fees. See Section 3 of the Marketplace Rules. Members on AutoPay are eligible for reduced transaction fees.
Q: Is it safe to provide my credit card information?
A: Yes, our server is equipped with encryption software that is designed to ensure that your online transactions remain private.
Q: Can I pay my transaction fee with ITEX dollars instead of cash?
A: The 6% transaction fee that is charged by ITEX is a cash payment and cannot be paid with ITEX dollars.
Q: What is the value of an ITEX dollar?
A: The Internal Revenue Service recognizes one ITEX dollar as being equivalent to one US dollar and treats all sale transactions as taxable events just like any cash transaction.
Q: Who pays for the shipping charges?
A: Either the buyer or seller can assume the responsibility of paying for the shipping charges. You should decide who is handling the shipping charges before finalizing a transaction.
Q: Are there any sales tax implications?
A: Each state and province varies regarding how much sales tax is charged on a transaction. Please check with your accountant or local tax office to determine the correct amount.
Q: Do I have to report sales as income?
A: If you are a business within the United States, ITEX will send you a 1099-B form for tax purposes indicating that year's total sales. If your business is outside of the United States, please consult with your tax authorities; in the future ITEX may be required to report your transactions.
Canadian Businesses: Revenue Canada takes the view that sales transactions are within the purview of the Income Tax Act and therefore any transaction can result in income or expense, and as a result should be considered on the same basis as a transaction involving currency. ITEX sales and expenses should be reported to Revenue Canada as per document IT-490 Sections 3, 9, and 69.
Q: Can I sell an item for cash instead of ITEX dollars?
A: No, ITEX dollars are what facilitate transactions in the ITEX Marketplace.
Q: How do I register with ITEX?
A: Simply select the "Sign Up" button or links and follow our simple prompts to become a member of the ITEX Marketplace. You will be asked for required information in addition to voluntary demographic information.
Q: How do I change my account information?
A: Select the "My Account" tab and then choose which section of your account information you would like to edit.
Q: How is my ITEX account maintained?
A: ITEX tracks your sales, purchases, cash billed, cash paid and other activity on your account; you can view the status of your account by clicking on the Balances link on the My Account page.
Q: What if I forget my password?
A: If you have forgotten your password you can have your Sign In information emailed to you. Alternatively, you can contact your Trade Director or contact our Support Team to have your password updated. These links are provided for you on the Sign In screen.
Q: Is my password case sensitive?
A: Yes, your password is case sensitive. Case sensitive formatting requires that you enter each character in the same manner as you did upon registration. For example, if your password was entered as "Itex", it must continue to be entered with the "I" capitalized and "tex" in lowercase.
Q: What if I lose control of my password's security?
A: If you ever feel that the security of your password has been compromised simply log onto the ITEX site and click on the Change Password on the My Account page. Remember to write down your password and to store it in a secure location.
Q: Can I change my Username?
A: You can change your Username at any time. To do so simply Sign In and click on the User Information link, then edit the name in the Username field. If the new Username you have chosen is already in use by another member you will be immediately prompted to choose another Username.
Q: Can I close my account?
A: Yes, if you are no longer in need of an ITEX Marketplace account you may close it at any time. Any cash fees owed or negative ITEX dollar balance needs to be paid in full before the account can be closed.
Q: How do I close my account?
A: You may terminate your account upon twenty eight (28) days written notice to ITEX Corporation. Please refer to the Marketplace Rules for more details. If you have any questions please contact your broker, trade director, or Member Services.