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During the 60 day interest free period who is wearing this cost?
Remember just like the consumer credit card it’s the seller (supplier of the goods or
services) that should be paying the transaction fee/merchant fee. This fee naturally
covers credit risk, the present value of money for 60 days, reward points as well as
cost of administration.
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As an Octet Seller member, can I increase the loyalty/rewards percentage
currently being offered to my buyers where our business wants to make a
special offer on existing goods or services?
Seller members should view the Octet Reward system as their own and use it to
assist in customers remaining loyal to the business
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Is the Octet Trading Card like a traditional Supply Chain Financing facility?
A Supply Chain Financing Facility requires the supplier to Factor the receivable in order to be paid on a buyer approved invoice. Buyer is not able to raise any disputes on the invoice going forward
Octet finances the working capital transaction by way of providing a loan to the Buyer with the Seller wearing the cash settlement cost. Buyer is always able to dispute invoice.
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My Chinese supplier demands a bank LC. Can I still use Octet?
Absolutely, we understand some manufacturers choose to operate this way. We offer
a service called 'Octet arranged LC
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Can my Octet Trading Card be used to make purchases other than imports
from China, Hong Kong, Taiwan and USA?
You can use your Octet Trading Card to purchase goods and services from local
Australian suppliers and most European countries. In fact you can use your Octet
Trading Card when selling your goods and services to your local customers
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Can I only deal with my existing Chinese suppliers on the Octet network?
Remember that like any consumer credit card, Octet is a closed community. You are free to deal with any supplier who is a member of Octet. So if you want to deal with other suppliers, you must introduce them to Octet by referring them to your contact at Octet or the web site.
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Can I use the Octet portal to transact but settle the supplier invoice myself?
Yes, this is called a Buyer Direct Payment. Remember that the Octet Portal is a
efficient and practical tool as well and can be used for all your purchases even when
not requiring the funds from Octet.
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Is Octet a document management application?
That is not the purpose of the Octet Portal as its gear to funding transactions. But it has all the bells and whistles for a document management application especially as far as international transactions are concerned.
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Is Octet associated with a major bank?
No, Octet is an independent company, operated by finance and trade professionals
with decades of experience in Australia, China, and around the world
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How can Octet provide unsecured finance when banks do not?
A better question is Why don't banks offer unsecured business finance?
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