Modern versions of barter include countertrade, counterpurchase
, compensation, import entitlement programs, offsets, clearing arrangements, switch trading, etc.
Forms of countertrade may be grouped into five basic types: simple barter, clearing-account arrangements, counterpurchase arrangements, buybacks or industrial compensation arrangements, and offsets.
Under a counterpurchase arrangement, two separate contracts linking exports and imports are negotiated between two parties.
As in the case of counterpurchase, two separate contracts are involved - one involving the export of the plant and the other the import of the resulting output from the plant; third parties may participate in the sale of the buyback products.
For instance, in the case of buyback and counterpurchase arrangements, considerable uncertainty prevails about the availability and quality of products to be purchased in the future.