HOW IT WORKS ?

AVF Platform How it works?

The AVF Platform is where Firm Bids are Launched and Accepted. A Firm Bid is where a Company posts its Commodity offer (to buy or Sell) or its Transportation needs giving specifications and where needed, the price. These offers having a default validity of 24 hours (which can reduced or increased to comply with other factors) are sent to relevant AVF Members for their immediate Acceptance or negotiation (during the Firm Bid’s last two hours).

The AVF Member Platform is designed for Companies launching either a Buyer or Seller offer related to the Commodities listed on the Platform and or for Companies requiring Transportation services for their Commodities. Specifically the following Companies can become AVF Members (after a vetting process):

• i. A Seller or Trader who wishes to sell a Commodity to a Buyer or Trader, Launches a Firm Bid. This is sent by AVF to relevant Buyer and Trader Members interested in that Commodity.
• ii. A Buyer or Trader who wishes to buy a Commodity from a Seller or Trader. He Launches a Firm Bid which is sent by AVF to relevant Sellers and Traders interested in that Commodity.
• iii. Any Company, in any industry, wishing to use the AVF Transportation module for their logistic solution.
• iv. Any large volume Transporter Company that wishes to provide logistic services to AVF Platform Members.

The AVF Platform gives the necessary templates for the transactions to take place. Once filled in, subsequent Firm Bids are quickly inputted, Launched with notifications allowing prompt acceptance.

AVF lists the Commodities the AVF Platform trades in. This list will be expanded in the future. AVF Members state which Commodities they are interested in and or that they only wish to use the AVF Transporter Module.

The AVF Platform informs its AVF Members in three ways:

• i. Via the AVF internal contact and messaging system.
• ii. By email.

These methods informs relevant Members of new Firm Bid offers posted. The potential Receiver does not search for Firm Bids, he is informed by an AVF email when a relevant one has been posted. Also when a Firm Bid offer has been Accepted, or a counter offer made, an email is sent to both parties with relevant contact detail. The AVF Platform tracks the transaction from the initial Firm Bid offer to Acceptance to Delivery.

A Launched Firm Bid is set up automatically for 24 hours. The Launcher can reduce or increase the Firm Bid validity time to suit his way of operating including to take into account: company policy, working hours, weekends and national holidays. The upper limit of the Firm Bid’s validity is 72 hours. During the last two hours, of the Firm Bid’s validity, counter offers can take place. Everything is negotiable except the Firm Bid price.

After a Firm Bid becomes invalid, that is, time barred. A new Firm Bid can be generated which can include a revised price.

When the Receiver accepts a Launchers Firm Bid he bind’s himself to complete the transaction. Both parties are notified of the Agreement to Contract and the relevant contact information is sent to both parties.

An AVF Fee invoice is electronically sent to the Seller. It is payable 7 days after the confirmation that the Buyer acknowledges the receipt of the goods.

The Buyer on confirmation of the Firm Bid can request a Firm Bid offer to the AVF Platform Transporter Members. The Buyer, accepting the Transporter Firm Bid, he bind’s himself to complete the transaction. Both parties are notified of the agreement to contract and the relevant contact information is sent to both parties.

AVF sends an electronic Fee invoice to the Transporter payable within 7 days of delivery.

In addition all AVF Members can use the Transporter facility for all their transportation needs. Transportation Firm Bids are for any Commodity. They are not limited to the Commodities traded on the AVF Platform.