Chapter 1 Overview
1. Overview and Definition
1) Djimart.com: Djibouti International Commodity Platform provides online transactions and digital supply chain services for buyers and suppliers.
2) Buyers and Suppliers communicate online and sign electronic Sales Contract (referred to as “e-Contract”) through Djimart.com.
3) Djimart.com designates eTradePay as a payment and settlement tool for online transactions.
4) The platform is digitally connected with China Customs, eTradePay and Logistics companies, crosschecks and verifies various digital data in the trading process, and fulfills the transaction based on e-Contract.
2. Online transaction: e-Transaction System
Refers to the transaction undertaken by Buyers and Suppliers through Djimart.com and related technical services provided by Djimart.com, mainly including: initial PO, confirmation of e-Contract, online payment and settlement, digital data transmission and comparison of various document in the transaction process (such as customs clearance, packing lists, cargo receipts, deliver order, etc.). On Djimart.com, the transaction is fulfilled by system online.
3. Online Payment and settlement: eTradePay
eTradePay is a tool designated by Djimart.com to achieve online payment and settlement of transactions. By the rules of Djimart.com for transaction, eTradePay is entrusted by the buyer and Supplier as an intermediary to collect and settle the payment, sends instructions to the nominated bank for online settlement of the payment, and then, complete the foreign exchange online with customs clearance data.
4. Intelligent Supply Chain Management and Service: i-SCM
Djimart.com provides intelligent supply chain management and services for buyers and Suppliers. The documents associated with the digital data in supply chain are as follows：
1) e-Contract: Signed by Buyer and Supplier in Djimart.com
2) Barcode management: After e-Contract is confirmed, the system will automatically generate the barcode based on the order information and product SKU information. The supplier posts the barcode on the package of the cargo for the logistics company to scan and record when receiving and handling the cargo,
3) Customs declaration data: the platform will automatically generate the electronic declaration data as per e-Contract, which will be sent directly to the customs through the Djimart.com operating system
4) Cargo receipt Data: the logistics company designated by Djimart.com scans the package of the products in the warehouse at Origin Port to complete the receipt. The related data of cargo receipts have to be consistent with the ones of customs declaration and packing list.
5) Bill of lading Data: After the shipments are on board, the shipping company issues a bill of lading based on the shipping information. At the same time, the data of the bill of lading is uploaded to Djimart.com.
6) Arrival notice Data: After the shipments arrive at the destination port, the logistics company designated by Djimart.com sends a notice of arrival to the buyer to notify the buyer to pick up the cargo and proceed with customs clearance procedures
7) Delivery Order Data: Buyers use the delivery order to handle the delivery procedures. After picking up the cargo, the logistics company synchronizes the delivery data to Djimart.com.
Djimart.com manages the above-mentioned documents and data in the whole transaction process, thereby providing a digital and visual supply chain solution.
Chapter 2 e-Contract
e-Contract refers to the agreement between the buyer and the Supplier after negotiating and finally reaching an agreement. The detailed process is:
1. Overseas buyers select products (including product quantity and price) on Djimart.com,
2. Suppliers draft e-Contract at the supplier center of Djimart.com and sign it online.
3. The Supplier notifies to make confirmation online.
4. In the e-Contract, the buyer and Supplier can be allowed to negotiate the amount and time of payment and settlement. Djimart.com supports flexible schedule for payment (Deposit and Balance) and settlement through eTradePay.
Chapter 3 Payment by Overseas Buyers
After signing e-Contract, Buyer selects the payment method designated by Djimart.com to make payment.
Supplier takes responsibility to prepare shipment and the Buyer should makes full payment before picking up shipment at Destination.
Chapter 4 Supplier Effecting Shipment
1. The Buyer should pay Deposit and Balance payment to eTradePay as per e-Contract. The Supplier shall fulfill the delivery obligations in accordance with the quantity, date, delivery method and receipt information agreed in the e-Contract, and provide the corresponding required documents or certificates.
2. At present, there are two kinds of delivery methods that Suppliers can choose: sea freight and air freight. Regardless of the method of delivery, the cargo must be collected, consolidated and customs-cleared at the warehouse designated by Djimart.com.
3. Shipping Date: If the Supplier delays in delivering shipment by the agreed shipping date, the Supplier have to obtain the consent of the Buyer in advance. The Buyer and Supplier need to re-negotiate a new shipping date. If both parties reach a supplementary agreement by negotiation, the transaction shall be implemented continuously.
4. The Supplier must ensure that the data for Customs declaration and Packing List should be consistent with the actual shipment. If inconsistencies are found before shipment, the Supplier must update the information immediately.
5. The documents or certificates required for clearance by Destination Customs should be clearly stated in the e-Contract.
Chapter 5 Payment and Settlement
1. eTradePay
Once the Buyer and Supplier confirm the e-Contract on Djimart.com, it is deemed that the Buyer and Supplier formally agree to employ eTradePay for transaction settlement. That is, eTradePay will monitor the implementation of the e-Contract between the Buyer and the Supplier, and release payment to the Supplier when the e-Contract is fully fulfilled. Only bank transfer is acceptable for Djimart.com in eTradePay at this stage.
2. Buyer and Supplier’s Agreement on payment and settlement
(1) Payment: Djimart.com allows Buyers to pay in two payments: Deposit and Balance; The ratio and time of the two payments can be negotiated and agreed upon by the Buyer and Supplier through e-Contract.
(2) Settlement: Djimart.com directs eTradePay to release Deposit and Balance to Suppliers according to the implement status of the Buyer and the Supplier; The ratio and time of the two payments can be negotiated and agreed upon by the Buyer and Supplier through e-Contract.
3. Payee
The Buyer is required to make payment to a designated bank account of Globex E-Services (HK) Limited with Ping An Bank. The designated account details will be given to Buyer by eTradePay for payment after Buyer confirms the e-Contract. The Buyer is allowed to make one payment for multiple e-Contracts at once. The Buyer’s payment should be equivalent to the amount requested by eTradePay. Any overpayment and underpayment will cause the transaction to fail and the total refund cost occurred thereby should be borne by the Buyer. Please note: the Buyer is required to pay deposit strictly according to the agreement in the e-Contract. Once deposit is received, the Supplier is responsible for preparing the cargo and delivering cargo to Logistic Company. The Buyer should pay Balance before picking up shipment at Destination Port. Remarks: the Buyer shall bear the bank charges and service charges of each payment service provider.
4. Settlement
Rules for Settlement
(1) Release of Deposit: In the case that shipment passes China Customs, eTradePay will instruct the bank to release Deposit to Supplier.
(2) Release of Balance: In the case that sea or air freight is employed, eTradePay will instruct the bank to release Balance to Supplier One Working Day after Buyer picks up shipment at Destination Port.
(3) Once Balance is released to Supplier, it is deemed that both parties have completed the implementation of the transaction in line with e-Contract, which means Buyer agrees to give up the right for dispute, refund or chargeback.
Chapter 6 Online Transaction Fees
1. Overseas Buyer Fee
eTradePay will open a variety of collection channels, overseas buyers can pay through bank transfers, credit cards and other channels. Please note that using different channels to pay will incur different fees. During the payment process, overseas buyers need to pay the relevant transfer fees before the eTradePay is credited (international segment)
2. Transaction Costs:
1) Djimart Transaction Commission: the Supplier must bear the commission for platform transactions, the ratio is: 1.5% of the transaction amount;
2) Bank Handling Fee: When the Supplier transfers the payment from eTradePay to its registered bank account, the Supplier needs to pay a bank handling fee of 0.1%.
3) eTradePay Service (Free): eTradePay provides payment and settlement services for Buyers and Supplier for free, including Supplier sub-accounts registration, online inquiry of transaction amount and settlement services in accordance with the e-Contract).
4) Actual Cost: Customs fees, logistic fees and document fees incurred during the trade will be directly charged by the service provider.
