How the clearing house works

Listing. Anyone with inventory can take part. Each listing is one product in identical units, at a price that is always shown. You can change the price or the quantity at any time, except in the middle of a trade.
Buying. Any member can buy any listing, and the seller cannot refuse. You can buy as long as your untied inventory covers the purchase. No money changes hands.
If the seller owes nothing, the same value of your inventory is tied to the seller.
If the seller owes someone, your purchase settles the seller’s debt, oldest first, and your goods go straight to that creditor, who chooses which of your listings they take.
After 6 months, any tied value not yet settled by others buying from you is paid in cash, in 3 equal monthly instalments, directly to the member you owe.
If an instalment is missed, the rest is taken in goods: the member you owe chooses it from your listings.

An example

1. A buys €10.00 of goods from F. F owes nothing, so €10.00 of A’s inventory is tied to F.

2. B buys €10.00 of goods from A. A owes F, so B’s purchase settles A’s debt. €10.00 of B’s goods are now due to F, and F chooses which of B’s listings to take.

Result: everyone gave €10.00 and received €10.00, and no money changed hands.

If nobody had bought from A within six months, A would have paid F €10.00 in cash, in three monthly instalments of about €3.33.