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STS ( Smart Transaction System ) :
An online transaction system empowered by digital data in trading process
Implement the trading process by IT system intelligently
Protect and secure your purchase orders on ComB2B.com
STS protects and secures online orders when payment is made through eTradePay.com
The mechanism of STS ( Smart Transaction System )
The Payment & Settlement process is automatically
implemented by ComB2B.com according to the e-Contract.
1
Buyer and Supplie confirm e-Contract on ComB2B.com
Buyer places purchase order to supplier Supplier confirms e-Contract with Buyer
2
Buyer pays payment the Deposit to ComB2B.com via eTradePay before effecting shipment at loading port.
3
Supplier deliver cargo to the Forwarders who has registered in ComB2B.com with digital integration agreement.
4
Buyer pays the Balance to ComB2B.com via eTradePay before picking up at destination.
5
ComB2B.com releases the payment to Supplier after picking up.
Remarks: Proportion of Deposit and Last Balance can be negotiated and fixed in the e-Contract.
Online Payment & Settlement Scheme
ComB2B.com holds the payment during the transaction and release it by below schedule:
Payment schedule
1.Deposit payment: the Buyer pays the Deposit to ComB2B.com according to the e-Contract.
2.Balance Payment: the Buyer pays the Balance to ComB2B.com before picking up at destination port.
Settlement Schedule
1.Release of Deposit: ComB2B.com instructs the bank to release the Deposit to Supplier after the shipment is effected at origin port.
2.Release of Balance: ComB2B.com instructs the bank to release the Balance to Supplier One Working Day after shipment is picked up at Destination.
All the above operation is implemented by system of STS automatically.
How To Get Protection by Smart Transaction System / STS
1.Place an online order with STS Suppliers
You can easily find STS Supplier by looking for the STS symbol
2.Make payment through eTradepay which provide multiple channels for payment.
Keep in mind: The protection is only for online order by ComB2B.com . It is only enforced when you make payment via eTradepay.com.
3.Effect shipment with the shipping company or Forwarder company who has agreement with ComB2B.com.
Click here to find them
Remarks: Shipping or Forwarder company release the cargo to buyer only when all payment has been paid to ComB2B.com.