Brokerage

The brokerage process ensures that both parties achieve fair, secure, and transparent trade agreements with the support of our network of professional agents.

Synopsis

The African Commerce Bank provides an efficient, structured brokerage service designed to facilitate transactions between African sellers and international buyers. This brokerage process ensures that both parties achieve fair, secure, and transparent trade agreements with the support of our network of professional agents. Our agents handle the complexities of negotiations, contract management, and currency conversions, providing an added layer of confidence for all parties involved.

Visual Diagram

Step-by-Step Breakdown

1. Supplier Registers Offer: The seller registers an offer on the platform, specifying details like the commodity type, quantity, price, and terms of sale.
2. Platform Verification: The platform performs a verification check to ensure that the offer complies with legal and ethical standards. This step includes ensuring that the commodity meets both local and international standards.
3. Offer Listed on Platform: Once verified, the offer is listed on the platform, making it visible to buyers worldwide who might be interested in procuring the commodity.
4. Vendor Registers Demand Order: Buyers interested in purchasing a commodity register a demand order, specifying their requirements (commodity type, quantity, price, etc.).
5. Platform Matching: The platform automatically searches for suitable matches between supply offers and demand orders.
6. Agent Assignment: Upon finding a match, an agent is assigned to facilitate the process. The agent initiates contact with both the seller and the buyer to begin negotiations.
7. Negotiation Process: The agent mediates negotiations, working to establish fair terms and conditions that satisfy both parties.
8. Agreement Reached?: If the parties reach an agreement, they proceed with the escrow service. If not, the order may either be re-negotiated or canceled.
9. Escrow Service Setup: The platform sets up an escrow service to secure the funds until the buyer confirms delivery, providing financial security for both parties.
10. Contract Finalization: The finalized contract is signed, either digitally or traditionally, based on the parties' preferences.
11. Logistics Arrangement: Arrangements for the logistics are made, detailing how and when the commodity will be delivered.
12. Commodity Shipment: The commodity is shipped to the buyer under secure transportation terms.
13. Delivery Confirmation: Upon receiving the commodity, the buyer confirms its delivery through the platform.
14. Release of Funds from Escrow: Once delivery is confirmed, the funds held in escrow are released to the seller.
15. Transaction Completed: The transaction is marked complete, providing transparency and records for future reference.

Conclusion

Through this brokerage service, sellers and buyers can leverage our extensive resources, including escrow services, contract management, and compliance checks, ensuring that each trade aligns with international standards, ethical practices, and local community interests. Below is a step-by-step flowchart detailing how the brokerage process unfolds on our platform.

This brokerage process is designed to minimize risk, reduce negotiation time, and enhance transparency. By using this structured approach, our platform ensures that each transaction is secure, efficient, and beneficial to all involved parties.