Trade Policy

RICE TRADE POLICY

Product

This document pertains to the trade of Basmati Rice-International on Tradologie.com as per the specifications, Timelines and Terms and Conditions Set Forth.

Grade

The buyer shall have the option to request for quotes for the following standard types of Basmati Rice

  • 1121Basmati Rice
  • Traditional Basmati Rice
  • Super Basmati Rice
  • D.B. (Pusa) basmati Rice
  • 1509 Basmati Rice

Buyers shall have the option to specify the quality of the rice as

  • Raw
  • Steam
  • Par-Boiled (Sella)

Type OF Grade

The Buyer shall also be able to select the type of Grade from the following

  • Wand
  • Dubar
  • Tibar
  • Mogra
  • Mini Mogra

Other Quality Specification

Quotes and Deliveries of Basmati Rice for any of the above mentioned standardized Grades shall be required to conform to BIS or Equivalent International Standards. The buyer shall have the option to request for quotes for Custom Grades. In such a scenario, the Sellers shall be Required to Offer Quotes and Delivery Conforming to the Specifications mentioned by the Buyer. The sellers shall also need to adhere to other quality specifications as specified by the buyer at the time of floating of enquiry.

Delivery Unit

Basmati Rice can be bought in the Multiples of 1 Metric Tonne (MT) from the Tradologie Platform with 50 MT being the Minimum Order Size.

Quotes

Unless Expressly Specified by the Buyer, Rates shall be Quoted for 1MT of Basmati Rice inclusive of All Taxes, freight till the delivery location, insurance and all charges pertaining to delivery at site mentioned by the buyer. Buyer has option to Specify whether he shall require Rates to be quoted Ex-factory. In such a scenario, the buyer shall specify the same in the Delivery Condition Column. Sellers are advised not to add delivery related charges including Insurance while quoting the rates to the buyer if rates are sought Ex-Factory.

Payment Obligations

Payment Obligations can be completed by the buyer using 2 Routes for purchases made through Tradologie.com 1. Line of Credit (LC) in Favour of Seller The Route being preferred by the buyer shall need to be intimated at the time of setting up of Enquiry. In Case of LC route, Buyer shall need to specify Bank opening the LC and upload sample LC format at the time of Setting up enquiry.

Delivery Logic

Buyer can Specify whether he shall be requiring the complete material together or shall be accepting Partial Shipments. The Buyer shall also be at Liberty to specify his Priority of Material at the Time of Floating of Enquiry.

The Sellers are Bound to adhere to the Delivery Logic Specified by the buyer and the sellers should ensure that the complete material is dispatched before the last date of Dispatch.

Currency of Trade

The Currency for Trade shall be USD for International Trade. All rates are to be Quoted in USD

Time Periods

The following table specifies the time slots applicable to various activities performed on the site TRADOLOGIE.COM for the Purchase of Basmati Rice. The Time frame till Completion of Buyer Payment obligation through the LC Route is as below:--

Module Activity Responsible Time Available Notes
Enquiry Setup Pay Performance Guarantee Deposit Buyer At the Time of Setting up of Enquiry
LC Pay Performance Guarantee Deposit (PGD) +participation fees to participate in the negotiation Seller Till one minute prior to completion of the live negotiation session A seller can make payment of Performance Guarantee even 1 Minute Prior to close of Negotiations
LC Give Counter Offer Buyer Within 15 Minutes from the End of the Negotiations Buyers can provide Counter Offer to Maximum 3 preferred Sellers.
LC Accept/Reject Counter Offer Seller Within 15 Minutes of Receiving the Counter Offer In Case of No Response, the Counter Offer shall be automatically rejected at the end of 15 Minutes.
LC Place order after completing negotiation Buyer 3 hours The prices quoted by seller are firm for 3 hours prior to Close of Negotiation Window
LC Accept the order terms Seller Within 6 hours of completion of the negotiation The order shall be deemed to be accepted if the same is not accepted by the seller within the stipulated time. In case of any issue, the seller is to contact helpdesk@tradologie.com before the end of the stipulated period.
LC Create the PO after seller accepts order terms. Buyer 24 hours In case the PO is not uploaded, the same shall be deemed as default of the buyer.
LC Accept PO & Download Identification Proofs Seller 3 hours after the buyer uploads the PO. If the seller does not accept, then the order is automatically accepted at the end of day.
LC Upload LC Upload LC Within 3 working days upon the acceptance of the PO by the seller.
LC Accept LC Seller Within 3 days after the buyer uploads the LC in favour of the seller. Seller must get the LC validated and approved by his bank within 2 days.
Quality Check Upload Quality Certificate Seller Till 1 day Prior to the last Date of Dispatch
Quality Check Approve Inspection Document Buyer Within 6 Hours of Upload
Delivery Document Upload Bill and Proof of Handing over of Delivery Seller Till the last Minute of the Last Date of Dispatch Seller to contact Helpdesk for any issues.
Dispatch Document Approve Dispatch Document Buyer Within 10 hours of upload In case the Buyer does not approve, the same shall be deemed accepted at the end of day.

Notes:
1. Tradologie.com shall be issuing Delivery Order to the seller upon the receipt of payment from the buyer which shall include the amount received from the buyer in ESCROW. Delivery is to be affected to the Buyer only upon the receipt of this confirmation.

PERFORMANCE GUARANTEE FEES

Calculation of Performance Guarantee Deposit

Performance Guarantee Deposit is paid by both the buyer and seller for each order.

Performance Guarantee Deposit = Quantity * Reference Price * Category %

Note:

The Reference Price for items currently being traded is provided in this document. The reference price for an item can be updated without prior notice

Note:

The Category % is dependent on the category of the item being traded. The Category % can be updated without prior notice.

Calculation of Commission Fee

The commission fees are calculated based on the invoiced value of the order and commission rate applicable as per the seller's membership type:

Commission Fees = Invoiced value of the order * applicable commission rate

Reference Table

S. No Product Category Reference Price Category % Base Commission %
1 Basmati Rice- International $ 725 Per MT 1.0 1.25%
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