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Trade Policy

TIME PERIODS

The following table specifies the time slots applicable to various activities performed on the site TRADOLOGIE.COM.

Module Activity Responsible Time Available Notes
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 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 Seller 3 hours after the buyer uploads the PO. If the seller doesnot accept, then the order is automatically accepted at the end of day.
LC Upload LC Buyer 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 3 days.
ESCROW Pay PGD+participation fees to participate in the negotiation Seller Till one minute prior to completion of the live negotiation session  
ESCROW Place order after completing negotiation Buyer 3 hours  
ESCROW Accept the order terms Seller Within 6 hours of completion of the negotiation  
ESCROW Create the PO after seller accepts order terms Buyer 24 hours
ESCROW Accept PO Seller 3 hours after the buyer uploads the PO. If the seller doesnot accept, then the order is automatically accepted at the end of day.
ESCROW Make Payment in ESCROW Buyer Till 3 days prior to last date of delivery Buyer to contact Helpdesk for any issues.
Third Party Inspection Upload Inspection Report Seller Till 2 days before last date of dispatch  
Third Party Inspection Approve Inspection Document Buyer Within 24 hours of upload of the inspection report  
Dispatch Document Upload Dispatch Documents Seller Till last minute of last day of dispatch Seller to contact Helpdesk for any issues.
Dispatch Document Approve Dispatch Document Buyer Within 10 hours of upload Incase the Buyer doesnot approve, the same shall be deemed accepted at the end of day.

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 FEES

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 Rs. 48,000 PMT 1.0 1.25
2. Non Basmati Rice Rs. 25,000 PMT 1.0 1.25
3. TMT Steel Bars Rs. 30,000 PMT 1.0 0.5