Time For Prints
Time For Photos
Trade For Photos
Trade For Prints
Time For Compact Disc
It's a term that means collaboration between photographer, model, and sometimes a MUA but usually not. The arrangement can mean anything from the model getting all un-retouched pictures from the shoot to the model getting just 2 retouched images from the shoot. It may or may not involve a model release. The model release may or may not include commercial use rights. Sometimes, the photographer or the model may reimburse the other party for some travel expense. It depends on who is doing more travel. Most often, there is no exchange of money.
While TF* may be a useful tool for non agency quality model to build a portfolio, it can be a detriment to models who qualify for agency representation. That's because very few photographers are capable of delivering useful images a model can use for agency use. A model who spends time building a portfolio doing TF* may find those images actually hurting her chances of getting signed. Photographers who are capable of delivering images usable for agency representation rarely do TF* and most are not looking for models on the internet to do such shoots. They are most likely getting their models from the agencies already. So the recommendation for agency qualified models is two fold. For fashion agencies, no professional images are required. A few simple snapshots will suffice and is preferred by fashion agencies. For commercial/lifestyle models, professional portfolio images may or may not be required depending on the agency. In cases where they are required, it's best to hire a qualified commercial photographer to create those images.
Because there is no standard accepted definition of what a TF* shoot is, it is best to discuss in detail all aspects of the shoot to avoid misunderstanding. You can find a checklist here to facilitate discussion.
Read more and contribute at Modeling Wiki.