The Basic Concept
Barter is the oldest form of commerce. In its simplest form, it is the exchanging of a product or service for another product or service without currency changing hands. In fact, barter was the first form of commerce prior to the introduction of money.

The only requirement was to barter with someone who wanted your goods and offered something you needed.

The computer, and more recently the Internet, has transformed barter from a community of retailers trading goods amongst each other (with one designated to "keep the books") to, businesses of all types and sizes bartering over $12 billion dollars worth of products and services last year.

While some barter is still transacted directly between companies, most utilise barter companies or trade exchanges, which are legal third-party record keepers that employ brokers to arrange transactions. The advantage is barter companies incorporate a barter currency that a seller receives when goods are sold and then spent with another company for goods that are needed.