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Procedures
Depending on the product type and the supplier's conditions, our process for supplier approval is detailed on each product's specifications page. Typically, it involves the following steps:
1. Initial agreement on the desired product's price.
2. Review of the buyer's order followed by an assessment of the documents outlined in item 4.
3. Sending a quotation using Tidots Oil company letterhead to transparently declare the price, delivery conditions to the supplier, and Tidots Oil's commission.
4. Signing an NCNDA agreement with the buyer.
5. Official introduction of transaction parties and the commencement of the project, adhering to each supplier's defined process.
We typically employ cost-based and market competitor-based pricing methods. Prices are decided based on specific project conditions such as technical specifications, order volume, packaging, delivery terms, and a mutually agreed logical price by the supplier. Additionally, Tidots Oil's commission is transparently declared separately for all parties involved in each project.
We procure the desired product through formal contracts with the respective suppliers.
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Communications
Typically, after the buyer's initial evaluation, collaboration begins through an NCNDA agreement.
- A Letter of Inquiry (LOI) on the buyer's letterhead, including details of their representative (for negotiation and contract signing),
- Technical product specifications, delivery terms, order volume, and other relevant details related to the product type.
- Company profile including owner details, work resumes, bank account information (including Swift code) for payment processing.
- The passport of the introduced representative in the LOI, and the company's registered license.
Before introducing primary buyers or sellers to Tidots Oil, we sign an official intermediary agreement to ensure compliance and mutual understanding.
Support
This can vary depending on each supplier's terms and the agreement between the parties. It's important to note that managing transportation and customs formalities are not within Tidots Oil's scope.
We aim to select suppliers who comply with the requirements and standards of the target market for entry and sales purposes.
We utilize local human resources and logistics to collect market information and conduct marketing processes. Moreover, we leverage innovative digital tools and technology.
Depending on the conditions agreed upon by all parties involved, this may vary for each project.