How It Works

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Step 1

Post Your Enquiry

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After Registration, An Interested Buyer logs-into Tradologie.com’s Buyer App and Sets-Up their Inquiry for Purchasing a Specified Commodity by providing all the details pertaining to his requirement, payment conditions, packaging conditions and delivery terms.

  • Commodity Required
    Commodity
    Required
  • p1
    Quantity
    Required
  • Delivery Period
    Delivery
    Period
  • Payment Method
    Payment
    Method
  • Custom Specification
    Custom
    Specifications
  • Inspection agency
    Inspection
    Agency
Succeeding the Inquiry, the Buyer choose out of a list of Registered Sellers and Deposits Performance Guarantee as per the Trade Policy. Trade Policy.
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Step 2

Seller negotiation

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Further to buyer inquiry, sellers chosen by the buyer are informed about the buyer requirement along with all the relevant information. Once they are informed, sellers give consent to participate in the negotiations and deposit performance guarantee* aswell. Preceding all the formalities, sellers are intimated about a 120-minute window to quote their rates to the buyer. This negotiation is conducted in Real-Time, so sellers can see the number of other participants and their price quotes also.

  • Participants
    No. of Participants
  • Quoted Rates
    Their quoted Rates
  • Lowest Rates
    Lowest Rates
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Step 3

Counter Offer

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The buyer has the option to present any of the participating sellers with a counter offer within 15 minutes, before the end of the negotiation. The offer shall be a firm offer which, if accepted, shall have the potential to convert into an order automatically. Additionally, the seller has the option to accept the counter offer within 15 mins, after the offer has been dispensed.

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Step 4

ORDER PLACEMENT

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Buyer can place an order to any of the participating sellers in case the counter offer is not accepted. Upon placement of order, buyer has to share LOI or purchase order which when accepted by the seller, later has to provide draft contract and proforma invoice.

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Step 5

Buyer pay-in

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The buyer completes the required payment obligation as per a chosen method selected while floating the inquiry, within a stipulated time frame. Payment obligation has to be fulfilled before order dispatch, in all instances. Currently, the Payment Obligations can be completed by 3 Methods

  • Opening an LC in favor of the Supplier
  • Paying 30% Advance to the Seller against Proforma & Balance when the Seller sends shipping documents to Buyer Bank
  • Making Payment Through ESCROW Account maintained by Kotak Mahindra Bank
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Step 6

Inspection of goods

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Seller is responsible to facilitate inspection of goods, from the agency appointed by the buyer, at the selected site.

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Step 7

Delivery of goods

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Advancing from the inspection, goods need to be dispatched to the buyer, before the last allotted day of dispatch and all the shipping related documents need to be uploaded for buyer’s verification. Later, once the goods are delivered, proof of delivery needs to be uploaded, to verify receipt.

HOW TRADOLOGIE
WORKS

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Post Your Enquiry

After Registration, An Interested Buyer logs-into Tradologie.com’s Buyer App and Sets-Up their Inquiry for Purchasing a Specified Commodity by providing all the details pertaining to his requirement, payment conditions, packaging conditions and delivery terms.

p1

Commodity
Required

p1

Quantity
Required

p1

Delivery
Period

p1

Payment
Method

p1

Custom
Specifications

p1

Inspection
Agency

Succeeding the Inquiry, the Buyer choose out of a list of Registered Sellers and Deposits Performance Guarantee as per the Trade Policy.

Learn More
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SELLER NEGOTIATION

Further to buyer inquiry, sellers chosen by the buyer are informed about the buyer requirement along with all the relevant information. Once they are informed, sellers give consent to participate in the negotiations and deposit performance guarantee* aswell. Preceding all the formalities, sellers are intimated about a 120-minute window to quote their rates to the buyer. This negotiation is conducted in Real-Time, so sellers can see the number of other participants and their price quotes also.

p1

Payment
Method

p1

Custom
Specifications

p1

Inspection
Agency

Learn More
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COUNTER OFFER

The buyer has the option to present any of the participating sellers with a counter offer within 15 minutes, before the end of the negotiation. The offer shall be a firm offer which, if accepted, shall have the potential to convert into an order automatically. Additionally, the seller has the option to accept the counter offer within 15 mins, after the offer has been dispensed.

Learn More
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ORDER PLACEMENT

Buyer can place an order to any of the participating sellers in case the counter offer is not accepted. Upon placement of order, buyer has to share LOI or purchase order which when accepted by the seller, later has to provide draft contract and proforma invoice.

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BUYER PAY-IN

The buyer completes the required payment obligation as per a chosen method selected while floating the inquiry, within a stipulated time frame. Payment obligation has to be fulfilled before order dispatch, in all instances. Currently, the Payment Obligations can be completed by 3 Methods

Opening an LC in favor of the Supplier

Paying 30% Advance to the Seller against Proforma & Balance when the Seller sends shipping documents to Buyer Bank

Making Payment Through ESCROW Account maintained by Kotak Mahindra Bank

Learn More
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INSPECTION OF GOODS

Seller is responsible to facilitate inspection of goods, from the agency appointed by the buyer, at the selected site.

Learn More
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DELIVERY OF GOODS

Advancing from the inspection, goods need to be dispatched to the buyer, before the last allotted day of dispatch and all the shipping related documents need to be uploaded for buyer’s verification. Later, once the goods are delivered, proof of delivery needs to be uploaded, to verify receipt.

Learn More
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PAYMENT SUCCESSFUL

After the successful delivery of goods, the supplier can attain the payment by approaching their bank. The Bank will be holding the payments, in the form of LC or through ESCROW till the time of delivery and once the payment is released, the transaction will be considered complete.

For ESCROW

Payment Transferred from ESCROW to Seller Bank Account within 3 Banking Days from the date of Receipt or Reporting of Bill of Lading.

For LC

Delivery Receipt Can be used to get LC Discounted.

For 30% Advance, Balance Against Documents

Seller to Send Documents to Buyer Bank and buyer will make payment to get the Documents Released to Take Delivery.

Learn More

FAQs

WHY DO I HAVE TO PAY A PERFORMANCE GUARANTEE?

The Performance Guarantee is Kept to establish the legitimacy of the buyer who is floating the enquiry and to safeguard against the defaults of the parties conducting trade.

The Performance Guarantee are retained/ Blocked in the ESCROW account of the company till such time the Obligation of Buyer & Seller is Not completed as per the Trade Policies of Tradologie.com

WHAT IS BLOCKING OF PERFORMANCE GUARANTEE?

The Buyer & Sellers can use the Credit Card Blocking Services at the time of Floating an Enquiry & to Participate in Negotiations Respectively as Performance Guarantee (PG). By use of this Service, the amount of the Performance Guarantee is not deducted from the credit card but an electronic block/lien is created on your credit card for the amount equivalent to the PG.

The block on the Credit Card is removed if no order is placed by the buyer or after the completion of your obligation incase the order is placed upon you by the buyer.

WHAT IS AN ESCROW ACCOUNT?

An ESCROW account is an internal account of the Bank which is operated on the basis of Predefined Terms & Conditions decided between the users of the ESCROW account.

As per RBI Guidelines, All payments made in the ESCROW account of an E-Commerce Platform by a Buyer are to be used to pay the seller. Tradologie.com can only be paid for its services from the ESCROW account.

HOW WILL I KNOW THAT A BUYER HAS INCLUDED ME TO PARTICIPATE IN A LIVE NEGOTIATION SESSION?

Whenever a negotiation session is confirmed, TRADOLOGIE sends an email to all the parties involved – buyer and sellers with the schedule of the session. Also, when you log on to your TRADOLOGIE account, you will see a notification of a pending request on your homepage. You can click the notification to proceed with participation.

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