You and your buyer execute a smart contract (only minimal details such as description of goods, delivery and payment terms are needed).
How does it work?
Let say you are a seller of goods. Via MinQro:
Your buyer gets a link via Minqro to block funds in the buyer’s bank account (for within India trade) or attach the funds to the smart contract (for both within India and international trade).
You both mutually choose the milestones to attach the funds to the smart contract by the buyer or the triggers to release the funds from the smart contract to the seller.
You ship the goods as per agreed terms. You get paid automatically as per agreed milestones, i.e., upon shipment, 30 days from shipment, etc.
You commit. You deliver as per agreed terms. You get paid.
This way you can trade with almost anybody. Your buyers are also happy as they are not risking any advance funds until you deliver as per terms, which, of course, you will, to get paid.
Pricing
For the benefit of complete contract management, which includes management of payment and delivery terms, and resolving disputes, if any, via mediation / arbitration, Minqro charges a fee of 0.5% of the contract value.
Use the MinQro Smart Contract for your next deal.
Get started now.
If you sell goods on credit, Minqro can help you get early payment. How?
If you sell goods on 30/60/90 days credit, but you need money now, Minqro can help.
As a supplier, if you need early payment, you can offer an early payment discount via Minqro.
Buyers may want to take advantage of your offer and pay you before the payment deadline to save money.
Similarly, buyers may offer to pay early in lieu of a discount. If you as a seller accept, again it is a win-win for both.
You get paid early, buyers get to expand their margins.
Both buyers and sellers can automatically offer and accept early payment parameters, depending on the credit terms and how early the invoice payment is being made.
Reach out to us, if you still have questions before you get started.
Coming Soon:
Early Payment Cash Discount Invoice Settlement
If you desire early payment, but your buyer does have the liquidity to pay you early despite the cash discount offer, via Minqro, you will get an offer to settle your invoice with an early payment discount ranging from 1-3%, provided your buyer has approved your invoice for payment. If you accept, your invoice will be settled. As simple as that.
The discount offer varies based on deal size, credit duration, type of goods sold, buyer’s credit rating, country of the buyer, etc.
Financial institutions and/or retail investors in the buyer’s country will pay you on behalf of the buyer.
The buyer will pay them in due course. Early payment discount will be split between the buyer and the financier.
Still have questions?
Minqro - Technical Details
Minqro is built using the latest technologies. The MinQro Smart Contract is deployed on the Polygon blockchain. Blockchain are distributed databases that provide unparalleled benefits of decentralization, immutability, security, and transparency. The MinQro Smart Contract is built on the widely adopted Ethereum protocol.
What is a blockchain?
What is a smart contract?
Minqro Partnerships / Associations
Minqro works with numerous organizations in multiple jurisdictions to bring the SMEs the most modern, most convenient, and fully compliant solution (as per the regulations of relevant jurisdictions).
