Diesel, Petroleum & Biofuel
TradeSafe system is a perfect solution for South Africa's fuel industry. The buyer, multiple wholesalers and agents as well as the supplier can be linked in a single transaction. TradeSafe allows funds to be released to the supplier based on acceptance by the buyer on either pick-up confirmation slips or Bill of Laden (BOL). Once the transaction is completed successfully, TradeSafe will pay the supplier, wholesaler and/or any other agents.
South Africa's Diesel & Petroleum sector is marred with numerous nefarious tricks and shenanigans which TradeSafe has seen over the past two years. Suppliers claim to be owner of the product when in fact they are not, a single transaction would sometimes have up to eight or nine sellers/resellers and one transaction would comprise up to 5 mini transactions so that the buyer's funds are ceded up the daisy chain to the actual supplier of fuel. TradeSafe significantly overhauled its systems and processes to provide a single comprehensive solution to ensure that the transaction terms are agreed by everybody, that all parties are vetted, that there is complete transparency (with respect to performance) and that everybody is on the same page. Read More to find how TradeSafe provides payment security to the fuel industry.