Frequently Asked Questions
All traders including both Sellers and Buyers can Sign-Up as users on the Marketplace. They simply need to provide some personal & business information to go through our KYC & KYB screening process to be admitted. This quickly verifies the Traders and also their Companies within 30 seconds.
Know-Your-Customer ( KYC) and Know-Your-Business (KYB) is a screening process that is done during the Sign-Up stage. Through our Risk Assessment partner, an instant check is conducted to verify the identity of our platform Users, assessing their reliability and integrity to perform digital transactions on the Marketplace platform. The User has to provide us with (1) Company Owners Details with Proof of User’s ID, (2) Company’s details with Company registration Docs.
It is completely free to join the Marketplace as a Trader (either Buyer or Seller).
When the order is approved and the transaction proceeds to Shipment pickup, the payment amount is blocked in the Buyer’s Digital Wallet on the MP. This ensures that the Buyer has enough money to make the purchase. Once the Buyer confirms receipt of the goods, we transfer the due Payment amount (net of Seller Commission Fees) in your Digital Wallet. You can then simply request the withdrawal of these funds to your commercial Bank Account.
We only apply transparent fees and keep our users updated. We charge a small Seller Commission Fee on each order successfully sold on the MP. This is a fixed % of the total Invoice Amount excluding any taxes. This is deducted automatically so you will always see the net value in your Seller’s Wallet. Other than this, there is a small withdrawl fee of $30.50 for transfering funds out of your Wallet to your Bank Account.
As a buyer, there are no fees for trading on the Marketplace. The Escrow services are also provided completely free. Other than this, there is a small withdrawl fee of $30.50 for transfering funds out of your Wallet to your Bank Account.
Today we provide a Digital Wallet to all our registered traders. This enables secure payment for your transactions with free Escrow service. In the near future we will be adding Digital Trade Finance.
Yes, once both parties agree upon the terms & conditions of the order, then these become legally binding with a system generated digital smart contract. This ensures that both parties are responsible for completing the agreed transaction.
Yes, you can add as many users to manage your trading activities, assign their roles accordingly along with tracking their activity.
Our MP has many Global and Local Logistic Companies integrated for you to choose from. You can seamlessly accept quotations, track your shipments, and make payments all via your dashboard.
Once you find the product offer you are interested in buying, you can enter in to negotiations with the Seller. Once both parties approve the offer, the sale agreement is instantaneously generated in to a Smart Contract.
Our platform provides Sellers the option to post their product offers anonymously. This will protect their price offerings against their competition. Once an order is agreed, the Seller’s details are disclosed to the Buyer in the generated Purchase Order.
Yes! Our Marketplace is an ecommerce platform designed and built specifically to solve the key challenges of B2B cross-border trade. This enables seamless ordering, pricing, negotiating, shipping and financial requirements of most B2B businesses.
No. Our eCommerce platform is powered by Distichain and is based on a Software as a Service (SaaS) model which is cloud-based. Access is simply through your regular browser (Chrome, Firefox, Internet Explorer 8+, Safari), and it works on all devices: desktops, laptops, tablets and smartphones.
We adhere to the strictest security and compliance standards when storing your data in the cloud. All confidential user data is encrypted before pushing to cloud storage. On top of this, all important documents are hashed and these hashes are stored in the blockchain to maintain data integrity.