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A barter agreement is a framework agreement in which two organizations record arrangements for bartering: they do not pay each other with money, but with products or services (including cryptocurrencies, which are not legal tender). The agreement regulates, among other things, how the value is determined and how the exchange proceeds, so that you do not have to renegotiate with every deal.
The way companies trade is constantly changing, and barter is on the rise — partly due to cryptocurrencies. Because they are not legal tender, buying goods with crypto is essentially barter. And barter cannot take place without a proper barter agreement.
What is bartering and what is a barter agreement?
In bartering, organizations exchange products or services instead of paying with money — for example, a car in exchange for a bitcoin. The advantage is that you can trade at cost price instead of consumer prices, and with crypto payments, you are not dependent on intermediaries.
Administratively, it offers little simplification, as the Tax and Customs Administration equates bartering with a purchase and sale agreement. You must therefore still issue invoices; however, these do not need to be paid, because the receivables are offset against each other for accounting purposes — provided the value of the products or services is equal.
A barter agreement is a framework agreement between two organizations: it establishes the framework within which future barter deals are concluded, with general agreements so that you do not have to make them again for every deal.
What is included in a barter agreement?
There are no legal requirements attached to the content, but it often contains:
- how the value of the products and services is calculated, and how the exchange takes place;
- concrete exchange ratios (for example: three loaves of bread equal two sausages), or — in the case of volatile cryptocurrencies — agreements on how the value is determined;
- general agreements regarding delivery, invoicing, applicable law, and quality guarantees.
For each barter deal, you subsequently make concrete agreements (quantities, delivery date), to which the framework agreement applies. These deals are then easily concluded, even via email, because the other agreements are already in place.
Frequently Asked Questions
Is paying with cryptocurrencies bartering?
Yes. Because cryptocurrencies are not legal tender, buying goods with crypto counts as bartering, for which a barter agreement is advisable.
Do I still need to issue invoices for bartering?
Yes. The Tax and Customs Administration equates bartering with buying and selling, so you issue invoices. These do not need to be paid, because the receivables are offset against each other if their value is equal.
What is the benefit of a barter agreement?
You record the general agreements once (valuation, delivery, rights), so that individual barter deals are concluded quickly and easily.
Have a barter agreement drafted
Do you want to exchange products or services with another company? The legal experts at MKB Juristen draft a sound barter agreement and advise you on its implementation. View our expertise in contract law or schedule a free intake consultation .
