Local Trade Partners

your cashless community.

FAQ's

It's Easy to get start with Local Trade Partners!

Click here to download our Quick Start Guide

 

How will my business benefit from Local Trade Partners?

 

Local Trade Partners produces new business for you - allowing you to expand your market and maintain your cash-paying customers. Local Trade Partners conserves cash. For example, if you owned a hotel that had ten vacant rooms at $100/night and you need a new copy machine priced at $1,000. Local Trade Partners provides a way in which you can buy your copier, fill your rooms (at your cost on the rooms) and maintain your cash. The same is true for filling empty tables for a restaurant, moving inventory for retailers and manufacturers or increasing billable hours for service business. Local Trade Partners provides a competitive edge. Local Trade Partners clients are new clients that bypass competing businesses to do business at your establishment while you are maintaining your existing cash clients.

 

What if a member charges me more to use Local Trade Partners than if I

paid with cash?

 

Prices quoted to Local Trade Partner members are the same as prices quoted to cash paying customers. Business owners are educated shoppers. Local Trade Partners is simply a method of payment- just like a credit card or cash. If your price is too high, members simply won’t buy.

 

Are there any tax advantages to Local Trade Partners?

 

There are no tax advantages or disadvantages to Local Trade Partners.

 

Sales Tax: When you buy, sales tax is paid in cash at the time of the transaction.

 

Income Tax: We report all sales on IRS Form 1099B. Business expenses can be expensed, just as you would any cash business expense. Our monthly statements make it easy for you to highlight items for your accountant.

 

Are Part Local Trade Partners/Part Cash Transactions Allowed?

 

Local Trade Partners is a Cashless Community. In some cases cash is allowed for special order parts and building materials.  All transactions involving part cash must be approved in advance by the Local Trade Partners Office, please call us prior to purchase.

 

Is Local Trade Partners legal?

 

Of course. Under the Tax Equity and Financial Responsibility Act of 1982 (TEFRA), the federal government officially recognized organizations like Local Trade Partners as a third-party record keeper- requiring us to record  transactions and report member income to the IRS. This puts Local Trade Partners on equal footing with banks, credit unions, securities brokers and others as custodians in the eyes of the law. Here is an article from the Journal of Accountancy regarding IRS Treatment of Local Trade Partners.

 

Why use Local Trade Partners instead of cash?

 

Maximizing cash flow is a top priority of all businesses, small and large. Using Local Trade Partners, as an alternative to spending cash, helps you conserve cash. Always use Local Trade Partners first.

 

Can I get anything with Local Trade Partners?

 

No. There are some things that you won't be able to find using Local Trade Partners, including: utilities, tips, mortgage payments and money payable to local, state and federal governments (Taxes, business licenses, traffic fines) etc. You can however, use Local Trade Partners to Free Up cash to pay for the things you can't find thru Local Trade Partners.

 

Who can benefit from Local Trade Partners?

 

Just about any business with excess capacity or surplus or slow moving inventory can benefit from Local Trade Partners. This is especially true if your inventory is perishable like your time, your employees time, radio time, billboards, hotel rooms, airline tickets, empty tables at restaurants, event tickets etc., Remember Local Trade Partners Dollars have a storable value and your perishable inventory does not.

 

Who can join Local Trade Partners?

 

Any business owner, professional or individual who has a product or service to offer for which there exists demand. The higher the demand for your product or service the more opportunities you will have to make Local Trade Partners Dollars.

 

 

What does it cost?

 

A cash fee of 10% is charged on all purchases, selling is free.  We're your commission only sales force.

 

What if I need to temporarily stop accepting Local Trade Partners?

 

You may place your account on "On Hold" if your trade balance is too high. You may NOT go "On Hold" if you have a negative balance, ie: You have purchased more than you have sold and are using your line of credit. See Policies and Procedures for details. While on on hold your listing will be suspended from our directory so members don't mistakenly attempt to trade with you.

 

How should I price my Products and Services?

 

You must charge the same prices as you would for cash. This is a key point- we follow the Golden Rule, treat others like you would want to be treated.

 

What if I need help?

 

No problem- that is why we have a professional Staff to help you at no charge, just give is a call at 479-443-1977 or in Fort Smith at 479-648-9999.

 

Do you offer trade credit lines?

 

Trade credit lines may be available to qualified members. Please call our office.

 

What if a Member does not play by the Rules?

 

If a Member does not abide by the Terms & Conditions or Policies & Procedures their Membership may be revoked.

 

Do you have Smartphone Apps?

 

YES! We have an impressive App that works with GPS to locate members near you. Our App is available for iPhones and Android. We also have a simple Transaction App for selling.  Just search your App Store for the "Nextrade360"  app.

 

Can I get a transaction authorized after hours?

 

YES! We have a variety of way to authorize a transaction from fellow Local Trade Partners members. We now  have a 24/7 automated telephone authorization line, smart phone apps and our web site. Our web site allows you to process a transaction without logging in with a user name and password.

 

Can I bookmark the LTP Authorization site for my employees on my Computer?

 

YES!  The LTP Office can provide a custom link with your seller number already embedded in.

 

These following steps will guide you through the process of creating a desktop shortcut to a website using Firefox, Chrome or Internet Explorer (IE).

 

1) Resize your Web browser so you can see the browser and your desktop in the same screen.

 

2) Left click the icon located to the left side of the address bar. This is where you see the full URL to the website.

 

3) Continue to hold down the mouse button and drag the icon to your desktop. This creates the shortcut.

 

Create a Desktop Shortcut to a Website

 

After creating the shortcut you can right-click on the icon and select Rename to edit the text description. (Option click on Mac)

 

© 2009-2017 Local Trade Partners, LLC                Web Design by Prosperity Mind