Time for prints (or trade for prints, time for pics, TFP, and sometimes prints for time, PFT) is a term that describes an arrangement between a model and a photographer whereby the photographer agrees to provide the model with a certain number of pictures of selected photographs from the session, and a release or license to use those pictures in return for the model’s time. “Time” refers to each person’s time spent during the photo shoot and “print” refers to a physically printed photo, usually on photo paper. Both the photographer and the model get together and exchange their time, for free, and each receives the photos for their own usage. Since photos can now be delivered by means other than printed, some variant wordings of this arrangement are time for CD or trade for CD (TFCD). With TFCD, the photographer provides the selection of images on a CD instead of prints. Similarly, with the ease and convenience of digital high-resolution images, the generic term TF* has evolved, where it does not necessarily refer to a tangible CD or printed image since the same accepted rules apply.
There are benefits to both parties of such an arrangement. The model can build a portfolio of photographs to show to prospective clients at little or no cost, while the photographer gets a model for a particular project or their portfolio with little, if any, outlay of cash.

Source, Wikipedia