Trading FAQ's

Bulk Rice Trading FAQ's

What are the Benefits of Purchasing Through

For the First time in the world, offers an opportunity to put suppliers through a competitive Test through its Unique Negotiations Portal & also provides Guarantee of supplies from suppliers quoting on your custom specifications. The module also provides you an opportunity to give counter offer to your preferred suppliers post negotiation to help you procure Material of Your Specifications at Your Terms & Price

How do I know that the suppliers quoting are genuine?

Before Allowing any supplier to participate in a Negotiations, verifies the credentials of the suppliers by taking they KYC Documents and personally visiting their place of business and Facilities. Also, for participating in the Negotiation, all suppliers also deposit Performance Guarantee which is liable to be forfeited in case they are not able to provide material as per the specifications.

How does Secure payments from the buyers? ensures that the buyer completes his payment obligations (either deposit in ESCROW or open an LC) before the dispatch of material and has a set timeline as per trade policy for the buyer to complete his obligation. Any delay or failure in completing the payment obligation shall be liable for the forfeiture of the performance guarantee deposited by the buyer at the time of floating the enquiry which shall be used to compensate the supplier.

How does an ESCROW account Function?

An ESCROW account is an Internal account of the bank setup to safeguard the interest of both the buyers and suppliers working through All credits and Debits in the ESCROW account are as per Strict Regulations imposed by the RBI which mandates that only commission and pre-notified charges of can flow from the ESCROW account to account. To know more, click here..

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