User Guide for Lightstrade.com

Source and Negotiate

Buyer can search for products or supplier on Lightstrade.com. Once buyer has selected a supplier, buyer should negotiate the key terms about Purchase Order, and reach to agreement with supplier, including the terms of price, advance and balance payment , shipment, the first and last payment release etc. Buyer and seller can talk directly on line with message tool on Lightstrade.com

Contract and Payment

After buyer place order on line (draft order), seller will see it on seller account, and seller will need to draft formal e-Contract as per all agreement with buyer. This formal contact is regarded as basic formal evidence for the transaction.
After seller submit e-Contract on line, buyer will see it in buyer center. Buyer then will confirm the e-Contact online, and make payment online(deposit or full payment) to supplier’s Bank Account nominated by eTradepay.

Buyer can make payments via three methods:

 Credit Card: Visa, MasterCard,Discovery,American Express;
 Third party payment tool: PayPal balance, BitPesa (only for payments from Nigeria, Uganda, Tanzania and Ghana)
 Bank Transfer

Buyer shall bear the service charge of each payment service provider.

Buyer shall pay deposit and balance in accordance with e-Contract. Once deposit is processed, Seller need to prepare the products and notice buyer about the production status. Seller shall deliver shipment to Logistic Company after buyer’s balance payment. Seller shall be responsible for any risk and loss occurred in the event of shipping out prior to Buyer’s balance payment.

Lightstrade.com shall compare the data between Packing List provided by Seller and Cargo Receipt provided by Logistic Company. The whole trade process shall proceed in the event that the data in Packing List is the same with that in the Cargo Receipt. Seller shall modify cargo and related documents in the event of any discrepancy occurred between the data in the Packing List and Cargo Receipt.

As value-added service, Buyer can designate Lightstrade.com to inspect the number of pieces of a certain percentage of the whole cargo

Seller can withdraw the released payment in RMB and USD to its bank accounts created within Chinese mainland.

Shipment

Seller can then choose 3 ways to effect the shipment :

> Express
> Air Freight
> Sea Freight ( both LCL and FCL )

All the documents required by the Customs clearance in China will be created by system automatically ( as per the e-Contract) will be generated automatically by our transaction system , and viewable in Seller Center.

Trade Authenticity Guaranteed

Through digital linking-up with related parties in the trade process (including China Customs, logistic companies, Customs brokers and etc.), Lightstrade.com guarantees and protects the trade authenticity in the event of e-contract, payment, shipment, Customs clearance and delivery, and builds up the trust between buyer and supplier. The whole logistics processing is visible online.

Flexible payment release terms can be negotiated between buyer and supplier when drafting the contract. The First payment to be released to supplier upon China Customs clearance proof at loading port, with the percentage agreed by both buyer and supplier in the e-Contract.

The last payment to be released to supplier upon the schedule of :

> for sea-freight or air-freight , the 10th calendar day since the issuance date of Delivery Order by freight forwarder at destination
> for express service , the 5th calendar day since Cargo Receipt is signed by buyer .

Trade Visibility Solution

Buyers are able to track and know the order status in Buyer Center, such as: Waiting for supplier to draft contract; Waiting for payment, Waiting supplier to ship, Shipment Released by China Customs, etc.

Buyers are also able to find Cargo Receipt, and shipped onboard B/L issued by by forwarder or logistic company at loading port in Buyer Center.

All documents required by the Customs of destination country, such as packing list, commercial invoice, etc, can be viewable and generated downloaded in Buyer Center.