Why don’t I simply arrange deals myself?
Transactions between eXchange Members will typically attract discounts on the original price, much the same as 'LOSS LEADERS' in supermarkets. The X's transferred between members are a mechanism to demonstrate and record the volume of discounts given i.e. if a member collects 3000 X's it means they have probably conducted a significant amount of business. If you swop your goods/services with other businesses, then your trade will be deemed a set-off or barter arrangement where VAT rules apply. Click this link to read HMRC rules
What is iOu eXchange (iOu-X)?
Are iOu eXchange X's a cryptocurrency?
No, absolutely not... X's are not a currency. The eXchange X's represent one unit of recognition mechanism to demonstrate how grateful a Buying Member is. Of course it may be that a particular Selling Member may be happy to receive ONE X for each £ of discount given, whereas another Selling Member may feel that TWO X's are a fair recognition. X's are used to keep a track of which businesses are trading in a fair and mutually beneficial way.
How do I find the services and products on offer?
Once you have registered there are 3 ways to find products and services. 1. You can post an anonymous WISH which is a quote request for a service or product. Wishes are seen by other members who can reply via the eXchange system that protects against spam style contacts. 2. You can search the eXchange database for a specific product or service. 3. You can browse all the products and services (DEALS) for inspiration and any deal that grabs your attention.
Is there a joining fee?
Early Adopters will benefit from a £99 saving because there is no registration fee for them, so register today and pay nothing until you make more sales and use less cash when getting what you want.
It seems it may be a barter system?
iOu eXchange members use X's (units of trade recognition) to access the reduced prices offered on the trading platform, which is different to a barter system where goods and/or services are exchanged for another business' goods and/or services.
What value do members place on X's?
For ease of use many Selling Members may ask Buying Members for ONE X in recognition of each £1 price reduction, however they can adjust the ratio. It is the Buying Members choice as to whether they agree to the number of X's requested by the Selling Member e.g. a Selling Member may ask for 2,3 or more X's for each £1 reduction they offer in their iOu eXchange deals.
Is there a monthly subscription fee?
Once you start to benefit from the service there will be a monthly subscription of £23.88 (paid in arrears) which can be cancelled at anytime. Important Note: the monthly subscription is a set figure for all businesses because the service provision and maintenance costs are the same irrespective of a business size.