• When do I need to obtain authorization?
• Why authorization is required?
• Who is responsible to obtain authorization?
• Are there others way to obtain authorization?

When do I need to obtain authorization?
When an Offer is received or the negotiation is finalized, you need not part with your goods or service until payment is assured. The buyer’s trade account number is included in the email when offer is made to the seller. Once you have agreed to sell, go to the Member Area and click on the Online Authorization button and follow the instruction.

BBN Network respects the privacy of its clients. Please refer to Privacy Policy for further information.

Why authorization is required?
Besides being a third party record keeper, the exchange functions as a clearinghouse. The clearinghouse functions work similar to a check clearing function in a bank. In the cash economy, when a buyer issued a check for the purchase of the goods or services, the check will cleared if the buyer’s account is of good standing. There is always an element of risk that the check is bounced and already the goods are with the buyer.

In the barter economy, there is no need to part your goods or commence work until payment is assured. If the exchange issued an Authorization Number, the payment in the form of Trade Ringgit will be processed into the account of the seller. There is no bad debt. The detail of the transaction will be reflected in the monthly statement and the real time account information when you log in.

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Who is responsible to obtain authorization?
There is no need to part your goods or commence work until payment is assured. It is always the Seller’s responsibility to obtain authorization from the exchange. Once transaction is authorized or processed, Trade Ringgit is guaranteed to be processed into the account of the seller.

Are there others way to obtain authorization?
There are 3 easy ways of obtaining authorization from BBN Network:

Online: Log in and go to the Member Area and click on Online Authorization. Seller input the Buyer’s account number and the total value of the purchase including the detail of transaction and submits. The exchange will authorize the transaction if the buyer has the necessary trade credit balance in his account and the member is of good standing. The seller is advised to forward the email confirmation so that the buyer is informed that the offer is being accepted and authorized.

Offline: Call our Trade Coordinators during office hours at 1-800-880-835. The procedure is very simple. Just tell us that you need authorization and we will ask you four (4) simple questions namely:

• Seller’s account number,
• Buyer’s account number,
• Transaction amount and
• Item purchased.

24 hrs Auto Broker: Using a standard touch phone, clients could be able to obtain authorization through our Interactive Voice Response system by calling our toll free line at 1-800-880-835 after office hours.