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so do you want to trade let's talk about a Tale As Old As Time embroidery hi I'm Tanae the attorney founder of legal goodness that's my online contract template store for business owners and today we're going to talk about bartering so let's get right into it what is bartering so basically bartering is trading services or products without an exchange of money so why barter well businesses often do this when they're just starting out sometimes small businesses you're just starting you may have a lot of liquidity you don't have a lot of money to purchase a lot of things and you may be in groups and associating with other small businesses or entrepreneurs who are doing the same so an easy way to kind of make connections and also save a little cash is by bartering um goods or services so what does this look like well let's say that you have a dozen t-shirts and they are worth up 200 right so you have a dozen t-shirts for 200 200 and you are bartering um for services for someone else you know maybe a friend of yours or with a particular service that you need your business right you need you need their eyes or your business to help you with something and let's say that that service is also worth 200 okay so instead of you paying them 200 for performance service and then they buy the t-shirts from you for 200 you may use what's called a barter agreement so what is in this barter agreement let's get into the nitty-gritty of disagreement and why it's important to have one all right first off you want to have a barter agreement because as great as this all sounds you know if you transact business long enough you know that um even best intentions can go wrong so you want to make sure that both you and the other party are covered that your intentions are made clear with an agreement and this is in every business scenario but certainly with bartering when they're money when no money is being exchanged so when we look at that agreement the first thing you want to have there is basically what is being traded what services or goods are being offered so my template breaks down that very first section what each party is offering here using our t-shirt and services example you might say that the offer is offering 12 dozen teach with a value up or a fair market value of 200 and then next up the person is providing the services you want to list what those services are and their value as well now let's get this part it's super important because the value is what's really being exchanged now because it's a barter agreement um the values don't necessarily have to be equal like you know one thing could be say 200 and the other thing that you're receiving could be...