Trader's guide

This article will walk you through how to facilitate transactions between buyers and sellers of agricultural commodities like Skimmed Milk Powder (SMP) and Butter, while ensuring you manage product origins effectively.

Getting Started as a Trader

Before trading on Vesper, ensure the following prerequisites are in place:

• Account Setup
  Make sure your account is active and verified. You will receive your login credentials from our support team.

• Approved Partners
  Confirm that you have a list of approved factories and buyers to engage with. This ensures that you can trade efficiently and securely.

Step-by-Step Instructions for Trading

1. Access Your Account

• Log In: Use your credentials to log into your Vesper Marketplace account.

• Navigate to Your Dashboard: Familiarize yourself with the dashboard, where you can view and manage trades, bids, and offers.

2. Define Your Trading Strategy

• Identify Product Demand: Analyze current market trends to identify products in high demand (e.g., SMP, Butter).

• Evaluate Approved Factories: Review your list of approved factories to identify suppliers with the right offerings.

3. Create Bids for Buyers

When creating a bid, you must choose the product origin factories that are acceptable for the listing.

• Go to “Create Bid”: Navigate to the “Create Bid” section.

• Select Approved Factories: Choose one or more approved factories based on product availability.

• Important: If multiple factories are selected, the bid will be sent to all sellers associated with those factories. Be prepared to accept products from any of the selected factories, as the final choice is up to the seller.

• Enter Product Details:

  • Product Type (e.g., SMP, Butter)

  • Volume: Specify the required quantity.

  • Proposed Price: Set a competitive price using market insights.

  • Terms of Sale: Include relevant terms like delivery timelines and payment conditions.

• Submit Your Bid: Once complete, submit your bid for suppliers to review.

4. Create Offers for Sellers

When creating an offer, you need to select the product origin factories where the product can be sourced.

• Go to “Create Offer”: Select the “Create Offer” section.

• Choose Approved Factories: Pick one or more factories based on your product availability.

• Important: If multiple factories are selected, the offer will be dispatched to all buyers who have any of these factories approved. You must be prepared to deliver the product from any of the selected factories, as the buyer will make the final choice.

• Enter Product Details:

  • Product Type (e.g., SMP, Butter)

  • Volume: Specify the quantity available for sale.

  • Proposed Price: Set a competitive price based on market conditions.

  • Terms of Sale: Include payment terms, delivery timelines, and any other relevant conditions.

• Submit Your Offer: Once complete, submit your offer for buyers to view.

5. Engage in Negotiations

• Receive Responses: Monitor your listings to view bids or offers from interested parties.

• Evaluate Each Offer: Review incoming responses based on price, volume, and credibility.

• Use Counter Offers: If needed, propose changes using the “Counter Offer” feature.

• Finalize Terms: Discuss and adjust until both parties agree on the terms.

6. Confirm Transactions

• Accept the Final Offer: Once an agreement is reached, confirm your acceptance.

• Deal Finalization: The transaction is finalized, and both parties’ identities are revealed.

• Proceed Offline: Arrange payment and delivery details directly with the counterparty based on the agreed terms.

7. Maintain Relationships

• Follow Up: Keep communication open with both buyers and sellers to build long-term relationships.

• Gather Feedback: Request feedback to enhance your trading practices and service.

Key Considerations for Traders

1. Managing Product Origins

   • Always be aware of which product origin factories you select in your listings. Multiple selections mean flexibility in delivery or receipt.

2. When Creating Listings

   • For bids, selecting several factories means the seller can choose the final factory. Be open to receiving from any of them.

   • For offers, selecting several factories means the buyer will choose the final factory. Be ready to deliver from any of them.

3. Viewing Listings

   • When viewing a buyer or seller listing, always note the approved product origins to ensure alignment with counterpart expectations.

4. Effective Communication

   • Clearly communicate your capabilities and constraints regarding product origins to avoid any misunderstandings during negotiations.