1. What products and services are traded in the network?
TradeQoin is ideally suited for making routine purchases of products and services. Purchases who regularly come back and which can be relatively quickly decided on. Like: administrative and financial services, waste management, archive services, security, flowers, catering, communications equipment, printing, electrician, photographer, window cleaning, golf club, hotels, ICT, interior design, legal services, office supplies, marketing & communication, nailsalons, maintenance and repair, stores, restaurants, travel, painting, cleaning &-supplies, garden design, maintenance, web design. If a particular product or service is not available in the network, TradeQoin will make an effort to get the product or service. TradeQoin will not commit to exotic, luxury or products / services that are hardly asked for by the network members. We rather held entrepreneurs to save Euro's on other purchases so the saved euros can be used to purchase exotic or luxury products.
2.Why is TradeQoin less suitable for long-term, capital-intensive investments?
For all participants, it is important that earned Qoin are quickly spend within the network. TradeQoin is about trade, not about saving.
3.Under what conditions is the membership of my organization approved?
You are a company that belongs to the SME sector (up to 250 FTE staff, € 50 million annual turnover). There is balloting; participation is reserved for entrepreneurs who fit into the network. Also, as a business you're not allowed into the network if you are on the verge of bankruptcy.
4.What is a TradeQoin Community?
We consider it important that entrepreneurs engage in business with each other in the region. The best way to arrange this is to organize entrepreneurs in a particular region within a cooperative association. This increases the involvement of entrepreneurs. We decided to organize local communities as cooperatives: a legal form that combines the benefits of a private limited company with those of an association.
5.What is the difference between Qoin and the cooperative associations?
Qoin manages the technical infrastructure, monitors the quality of the program, does the billing, and offers expertise to build successful local communities
9.Can I also do business with companies from another local TradeQoin cooperative?
Yes that's possible. The products and services offered by all communities can be viewed on TradeQoin.com this website. The TradeQoin is accepted in all communities.
- The needs of the company;
- The extent to which other members of TradeQoin can meet these needs;
- The size and turnover of the company;
- The possibilities that the company has to earn TradeQoin by selling products and services within the network;
- The financial position of the company.
The actual size of the supplier credit will vary between 1000 and 7500 TradeQoin.
11.Within what period must the granted credit be repaid?
The granted credit isn't a loan, it is an overdraft facility on your TradeQoin account. Entrepreneurs are required to have a surplus on their balance sheet every 3 to 6 months
13.How do I know that I can spend the earned TradeQoin again?
TradeQoin strives to maintain the availability of a large variety of products and services within the network. The offered choice and quality of supply determine the added value of TradeQoin for the individual entrepreneur. TradeQoin is constantly in contact with entrepreneurs to ensure the availability of a wide range of products and services. We also seek cooperation with a large number of (corporate) companies that can offer products and services to our members which are normally not offered by SMEs. Hereby we make sure that companies can always make fast and useful purchases with their TradeQoin.
15. I can make 3 transactions in my trial period, does this mean that I can sell and buy?
Yes, that's possible. Although you have to sell before you can make a purchase. It is not possible to receive a credit facility during the trial period.
16.How do I start trading in my trial period without having TradeQoin's available yet?
You first have to sell goods or services within the network, in order to spend. Only full members can qualify for supplier credit.
17.When making a purchase, there is also a transaction amount due in TradeQoin, how does that work?
You will receive a monthly Euro and TradeQoin invoice, which shows all charges and levies. After 3 transactions, you pay € 25 a month membership fee and 5% (ex. VAT) charge in TradeQoin on all the purchases.
18.If after the trial period I decide not to join TradeQoin, what happens to my balance in that case?
You can spend your balance in the network until the trial membership ends and the account is deactivated. This will be a month after the trial membership is ended. After deactivation of the account, the remaining balances are transferred to the stability fund.
19.May a seller within the network refuse my payment in TradeQoin?
Providers are supposed to accept TradeQoin as a means of payment for their goods and / or services. If a supplier needs to buy 50% or more of the order value in Euro's, for example delivery costs or costs for installation by a third party, the provider may pay these costs in Euros. However, an entrepreneur can only refuse an order in TradeQoin if the surplus limits are reached.
20.Can I refuse a payment in TradeQoin from a buyer in the network who, as a regular customer, used to pay me in Euros?
No, participants in the network cannot refuse payment in TradeQoin. Unless surplus limit on their balance is exceeded due to the sale.
21.How do I incorporate the TradeQoin transactions in my accounting system?
1 TradeQoin has the value of one euro and is processed in your accounting system as an additional bank account. You always can login to your TradeQoin account to view all transactions. Here you can also generate or export bank statements for the benefit of your records. On every TradeQoin that you sell you have to charge VAT. The tax authorities don't accept TradeQoin and payment therefore takes place in Euros. If you use TradeQoin for your personal expenses, just insert the TradeQoin into the income tax declaration.
22.Payment made on my online TradeQoin account, how does that work exactly?
By logging on TradeQoin.com you can go to your online account statement via My Account. You will find here the option 'Pay directly', by which you can perform a bank transfer based on the unique combination of contact and company name. You can also make a payment directly form the marketplace ads, after which the advertiser will proceed to delivery. If you own a webshop, you can easily integrate a TradeQoin payment module into your website.
23.How will I be informed about my transactions or bank balance?
By logging in to My Account and enter your current balance, you can see all your transactions and also perform targeted searches. There is also a smartphone application in development which allows payment insights 'on the go'
25.How does balloting work?
The balloting committees decide on the acceptance of new full members. Here, ensuring adequate diversity of products and services will be an important determinant. Local as well as national balloting commissions will arise and members can candidate themselves for a governance position in these commissions. In the startup phase the decision to accept new members will be taken by the board of directors.
- By participating, or to be represented at the annual general member meeting.
- By qualify yourself for election to the Council of Members.
- By qualify yourself for election to the forming committees.
- By voting on positions/propositions within your community
27.Can I also make purchases abroad?
Yes, TradeQoin works together with a large number of similar networks worldwide. It is possible to do business with connected companies. It is the ambition of TradeQoin to establish communities throughout North Western Europe.
29.TradeQoin supports entrepreneurs to do business within the network, what does this mean?
Our consultants actively think along with you about your options to earn TradeQoin and to avoid spending in Euro. If some services or products you need are not (yet) available in the network, TradeQoin will actively engage suitable suppliers to join the network.
30.Suppose my organization needs products or services that are not available within the network, can I own approach companies to join the network?
Introducing new members to the network, particularly providers of products and / or services that aren't offered yet, is encouraged. Members can earn a bonus of 150 TradeQoin when they bring a new full member to the network.
31.What happens in case of bankruptcy of one of the members of TradeQoin?
In case of bankruptcy of a member with a balance deficit first an attempt will be made to receive the equivalent of the deficit back in Euro. If this is not possible, the deficit will be taken out of the stability fund. from the guarantee. If your customer doesn't pay, TradeQoin guarantees payment, provided there rest no dispute on your delivery.
32.What happens to companies that are permanently overdrawn on their TradeQoin account?
During the issuing of a supplier credit, a time frame is agreed upon in which the entrepreneur must show a balance surplus. This is typically every 3 to 6 months. If a company continues to maintain a balance deficit after this period, the remaining amount due must be payed to the network in Euros