Barter Trade Procedures
- Trade partners should enter into a barter trade contract, with a negotiated foreign exchange rate
or market rate as on 1st January 2021.
A copy of the barter trade contract attached with a Standby Letter of Credit, or any form of a guarantee, for the performance
of the contract with the relevant government approval letter, should be uploaded on our website and also be sent to our email address
- Once RECIPRO approves the relevant contract and the attached documents mentioned above, the parties
may commence their transaction.
- The initial exporter of the contract, shall receive an UBUNTU Scrip in payment for
his export from RECIPRO. He may use it in the future to import goods from his counterparty. Alternatively,
he could sell it within his own country, to another trader who wishes to use it, to buy back goods from the initial importer.
- The scrips are transferable within the recipient’s country, once only.
- The receipt of a scrip, by the initial importer through sale of goods both across borders or within his country,
completes the barter trader agreement entered and the relevant scrip expires.
- If simultaneously delivery of goods is agreed to be conducted under a barter trade contract, the Ubuntu scrip shall not be issued.