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.
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.
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.
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.
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
Seller is responsible to facilitate inspection of goods, from the agency appointed by the buyer, at the selected site.
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.
After the successfully delivery of goods the supplier can attain thr 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 Repeating of bill of loading 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 document released to take delivery.
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
Quantity
Required
Delivery
Period
Payment
Method
Custom
Specifications
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 MoreFurther 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.
Payment
Method
Custom
Specifications
Inspection
Agency
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 MoreBuyer 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.
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 MoreSeller is responsible to facilitate inspection of goods, from the agency appointed by the buyer, at the selected site.
Learn MoreAdvancing 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 MoreAfter 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.
Payment Transferred from ESCROW to Seller Bank Account within 3 Banking Days from the date of Receipt or Reporting of Bill of Lading.
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