How Factrade Works

Get the most from Factrade and do your trading with peace!

Post your RFQ

Buyers and suppliers inform us of their exact requirements by filling out a detailed form. We float these requirements in the market to find relevant traders who fit particular requirements, facilitating a match between buyers and suppliers. This space allows users to illustrate a clear picture of what it is they are looking for in their trade. The form is simple, and easy to understand, and in one click you can be in touch with all the movers and shakers across industries.

Submit your offer

Once the request has been posted, it is shared with a number of traders who can see the trade details and offer their own terms and prices as well. Traders can even answer any relevant questions and submit their offers for your request at this stage. The fact that a large number of traders’ information is offered to our users, ensures a truly competitive marketplace to carry out mutually beneficial Trade.

Review & Finalise Terms

It is imperative that our traders get accurate information and can be sure to get the best price in the market. Users who have posted the Request for Quotation, will receive several proposals from traders meeting their requirements. At this stage they can review the terms, and vet traders’ profiles. For an easy user experience, traders can even chat with each other online to make counter offers or even work out the nuances of their trade. End-to-end engagement between sellers and buyers makes for a thriving network.

Finish Contract

After extensively vetting your options, deciding on price points, and tailoring fruitful terms of trade, both parties enter into a contract. This contract is uploaded onto our portal along with a copy of payment and delivery. Any relevant documents pertaining to the trade can be included here. Accountability and transparency become inevitable through thorough documentation which is beneficial to buyers as well as sellers.

Review Each Other

At the end of the contract, both the buyer and supplier can rate each other based on their experience during the trade.

This rating becomes a part of their profiles and helps build a track record that speaks to each one’s credibility in the market. A portfolio like this allows brands to become more transparent, as well as allowing them to gather visibility amongst peers in the industry. In addition to this, the network created through such reviews is invaluable.