How to Post an RFQ on CommodityTradeX

To post an RFQ on CommodityTradeX, navigate to the marketplace and select 'Post RFQ.' You'll be guided through specifying the commodity (selected from the platform's comprehensive commodity database), quantity (in the appropriate unit of measure: tonnes, barrels, etc.), quality specifications, preferred delivery Incoterm (FOB, CIF, etc.), and desired delivery period.

Be as specific as possible in your RFQ: vague requests generate vague responses. Specify the exact grade or specification you need (e.g., 'Copper Cathode Grade A, LME registered brands'), include your target delivery location, and indicate your preferred payment terms. The more detail you provide, the more accurate and competitive the responses will be.

RFQs on CommodityTradeX are visible to verified suppliers who deal in the specified commodity. Your trust score and verification level affect how seriously suppliers take your request: a fully KYC-verified buyer with a complete profile attracts more and better responses than an unverified account.

Set a reasonable response deadline (3-7 days is typical) and be responsive to supplier questions. If a supplier asks for clarification, prompt answers show you're a serious buyer. Review all responses holistically: the lowest price isn't always the best deal; consider the supplier's trust score, verification level, and proposed terms.

Compare responses on a like-for-like basis: ensure all quotes use the same Incoterm and payment terms. If quotes differ in terms, normalize them to a common basis before comparing. Use the platform's messaging system to negotiate final terms with your preferred supplier(s).

Once you've agreed on terms, the platform helps formalize the transaction with a trade confirmation capturing all agreed parameters. Throughout the process, the platform's escrow and document management features add security and transparency to the transaction.