Trade Methods - Buying
The following trade methods are available when listing your purchase requirements
- Method A Procurement Auction (a reverse auction) allows you to set a maximum reserve price and receive decreasing bids from sellers until the auction closes. A seller's lowest bid price wins the auction, if the bid is below your maximum reserve price, and earns the right to supply your requirement (subject to your approval of a final sample). Auctions can start within 14 days (for Domestic purchases) and 21 days (for Export purchases requiring a longer pre-sampling period). All auctions run for 72 hours. Bids made within the remaining 2 minutes will extend the auction a further 10 minutes.
- Benefits An efficient and quick method to source and secure your supply requirements at the lowest market price currently available. This method is ideal for extracting supply at the lowest available market price.
- Method A by-negotiation, offer/counter-offer method, based on price, terms and samples. Receive offers and make counter-offers, and either accept or decline prices, supply terms and samples. An efficient purchasing method to negotiate your way through multiple supplier submissions with no time limitation, all coordinated from your central dashboard. Your acceptance of an offer is subject to your approval of a final sample.
- Benefits This method provides a comprehensive engagement with sellers to achieve the best outcome for your multiple requirements. Enables negotiation only on the components that you agree are variable.
- Method A fixed price method. List your sourcing requirements at a fixed, non-negotiable sell price. If accepted by a seller, you can request samples and counter-offers on the supply terms that you indicate as negotiable. There can be no negotiation on price. Your acceptance of an offer on supply terms is subject to your approval of a final sample.
- Benefits You only agree to buy at your price, on the terms that you agree. A trade method to consider when the market inventory is balanced or in surplus supply of your requirements.
Pre-Harvest Sell Forward Contract*
- Method A by-negotiation, offer/counter-offer method based on price, terms and samples for the delivery of a wine (or other grape derived product) from the next available vintage. This method is only available for 5 months prior to the next vintage starting. Receive offers from sellers to supply your next vintage requirements based on current stylistic samples and/or product technical specifications. On acceptance and Clearing & Settlement approval, a Forward Contract is issued which must be executed by both parties on an agreed future date and release of the new vintage, subject to your approval of a final (new vintage) sample and techical specification. This method is only available to Premium and Corporate members.
- Benefits Based on your assessment of the market, this method can lock-in future purchases and provide a protection mechanism to hedge your price point against potential unfavourable market movements that may either reduce supply volumes and/or increase prices.
*Only available to Premium and Corporate members
Before listing a purchase requirement and selecting a trade method(s), read the Trading Rules for a complete understanding on the details of each trade method.
Completed trades are subject to the Clearing & Settlement approval process, and to the buyer's approval of a final sample (if applicable), unless the buyer elects to forfeit their right.