Post successful registration, members will gain access to EcoEx’s trading platform which will enlist state-wise, commodity category-wise & month-year wise trade contracts that are up for bidding in various auction types.
Once the member decides to undertake a particular contact & participate in an auction, the member will be required to agree to certain terms & conditions pertaining to the contract & the auction.
Before auction’s commencement the member will have to deposit an amount equivalent to 5% of bid value as Earnest Margin Deposit in the Escrow account provided by EcoEx.
The particular price point at which the buyer and seller gets matched during the auction will be considered as executed trades & will be registered in the trade book.
The seller will then have to login to the settlement platform and generate the certificate & block the traded quantity within T+1 day from the date of trade.
The seller will digitally sign the transfer certificate copy & send it to the buyer for validation along with supporting documents.
Post the buyer's approval, the certificate inventory will automatically get transferred from the seller to the buyer & the payment will be auto-credited to the seller.