How It Works

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Step 1

Post Your Enquiry

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A Buyer Interested in purchasing material logs on to setup his enquiry where he specifies

  • Commodity Required
    Commodity
    Required
  • p1
    Quantity
    Required
  • Delivery Period
    Delivery
    Period
  • Payment Method
    Payment
    Method
  • Custom Specification
    Custom
    Specifications
  • Inspection agency
    Inspection
    Agency
Upon Specifying Specs, The Buyer chooses Supplier of his choice and deposits Performance Guarantee as per Trade Policy.
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Step 2

Seller negotiation

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Once the Sellers selected by the buyer receive the enquiry which contains all relevant information, they give their consent to participate in negotiation, deposit performance guarantee* & are intimated the 30 minute window to quote their rate for the buyer. During Realtime Online Negotiations the sellers are able to see

  • 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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Buyer has option to present any of the participating sellers with a Counter Offer within 15 Minutes of the End of the Negotiation. The Offer shall be a Firm offer which, if accepted, shall convert into an order automatically. Seller shall have 15 minutes to reply to the counter offer presented by the buyer.

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Step 4

Buyer pay-in

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Buyer completes Payment Obligation as per method chosen by him at the Time of Floating Enquiry within Stipulated Time Frame. Payment Obligation shall be done before dispatch of goods in all instances.
Currently the Payment Obligations can be completed by 2 Methods

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Step 5

Inspection of goods

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Seller Facilitates Inspection of Goods by Buyer appointed Inspection Agency at site.

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Step 6

Delivery of goods

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Goods Dispatched to buyer address before last date of dispatch.
Delivery related document uploaded for buyer verification.
Proof of delivery uploaded to verify receipt.

Step 7

Payment successful

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Upon successful delivery, the supplier is able to get his payment by approaching his bank holding the LC or through ESCROW to complete the transaction.

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.

HOW TRADOLOGIE
WORKS

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Post Your Enquiry

A Buyer Interested in purchasing material logs on to setup his enquiry where he specifies

p1

Commodity
Required

p1

Quantity
Required

p1

Delivery
Period

p1

Payment
Method

p1

Custom
Specifications

p1

Inspection
Agency

Upon Specifying Specs, The Buyer chooses Supplier of his choice and deposits Performance Guarantee as per Trade Policy.

Learn More
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SELLER NEGOTIATION

Once the Sellers selected by the buyer receive the enquiry which contains all relevant information, they give their consent to participate in negotiation, deposit performance guarantee* & are intimated the 30 minute window to quote their rate for the buyer. During Realtime Online Negotiations the sellers are able to see

p1

Payment
Method

p1

Custom
Specifications

p1

Inspection
Agency

Learn More
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COUNTER OFFER

Buyer has option to present any of the participating sellers with a Counter Offer within 15 Minutes of the End of the Negotiation. The Offer shall be a Firm offer which, if accepted, shall convert into an order automatically. Seller shall have 15 minutes to reply to the counter offer presented by the buyer.

Learn More
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BUYER PAY-IN

Buyer completes Payment Obligation as per method chosen by him at the Time of Floating Enquiry within Stipulated Time Frame. Payment Obligation shall be done before dispatch of goods in all instances.

Currently the Payment Obligations can be completed by 2 Methods

Opening a LC in favor of the Supplier

Making Payment Through ESCROW Account maintained by Kotak Mahindra Bank

Learn More
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INSPECTION OF GOODS

Seller Facilitates Inspection of Goods by Buyer appointed Inspection Agency at site.

Learn More
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DELIVERY OF GOODS

Goods Dispatched to buyer address before last date of dispatch.

Delivery related document uploaded for buyer verification. Proof of delivery uploaded to verify receipt.

Learn More
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PAYMENT SUCCESSFUL

Upon successful delivery, the supplier is able to get his payment by approaching his bank holding the LC or through ESCROW to complete the transaction.

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.

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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