How does a Business Transaction Facility work?
The negotiating power of cash, without the need for security
Your Octet Business Transaction Facility is effectively an unsecured, interest-free line of credit. You have the funds you need to negotiate the best price from your supplier.
You (or the person you nominate) have access to your Business Transaction Facility and the Octet network through Octet's online portal. The portal verifies your identity via your Octet Trading Card, a chip card which you insert into your Personal Card Reader, supplied to you when you sign up.
When you want to transact, you simply log onto the Octet network to contact your supplier in China and then place your order (we will set up your approved suppliers as Octet members too). As your supplier is assured of payment by Octet, there's no waiting around for an LC to clear.
Under the Octet Direct Payment option, as soon as your Chinese supplier releases the goods for shipping, they are paid by Octet. You then have up to 60 days to repay your Octet facility before any interest is charged.