The TimeXchange is a free, social platform that has been created for like minded people to swap their goods and services in a secure manner.
A member creates a profile that includes their photograph, information about themselves and their advertisement, which promotes whatever service, good or product they have to exchange.
If members wish to add a layer of security to an exchange, each member in the exchange can enter into an online agreement from each members TimeXchange account so each member can use a deposit of funds as security to get a fair and equal exchange.
However this is optional and exchanges can go ahead without a deposit.
The Bond
Our bond system was created to provide a layer of security to our members. Once an agreement has been created, members can choose their deposit amount. We suggest a daily rate or real time value of your product, service or good and it is held in our system under Agreements until the exchange has been completed and both parties are happy for the deposit to be returned. It is not our job to review or monitor your exchange, we expect our members to act respectfully and responsibly.
The TimeXchange works within FCA guidelines on holding deposits.
Hints and Tips: Getting the best out of The TimeXchange
When looking to exchange start off from your friends list or a friend of a friend. Don’t underestimate the value of your time, service or good. When placing an ad for an exchange, whether it be Offer or Require, the ad for the exchange may be in another city or country. When placing the ad the member would select that city or country in the location details, e.g: If a member who lives in the U.K has a holiday home in Spain where they would like a type of exchange to occur from, they would select 'Spain' in the location details when posting their ad.
When creating a new exchange, be confident that nobody is losing out and the exchange is equal in value. Prior to starting the exchange keep tabs on your side of the deal, be transparent, don't footer around your expectations, lay them out clearly for all parties to be on the same page and figure out how to record proof of exchange from start to finish for example, take before photos. Once you start document your work with daily updates and photos as well as any additional and relevant information.
There are many different types of exchanges. Before entering into any exchange ask yourself, "Will I have verification of my exchange once it comes to an end?" This verification may be needed at a later date in the case of a dispute arising. Users who choose to create a bond on an exchange get the option to post a review and give a rating out of 5 stars only after an exchange has been completed and deposits are returned - this is to prevent misuse of the site.
Be cautious, do your research and appreciate that there are many individuals who are only out there to take advantage of good willing individuals.
Welcome to the new online community, we hope you enjoy using our social network and from now you can always ask the question "Do you want to TimeXchange me?"
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