Safe transaction Guarantee of fulfillment of obligationsFor the supply of quality goods
The OPEN OIL MARKET marketplace, using a nominal account, provides additional security when conducting a transaction.
A nominal account (NA) is an intermediary account where the rights to money belong to the participants in the transaction. The procedure for interaction between the parties is defined by the Agreement.
Security
All payments for goods are made through the marketplace's nominal account, which acts as a guarantor for mutual settlements between the Parties for each transaction.
Service operation scheme
Safe transaction
1
The Buyer enters into a transaction with the Seller and makes an advance payment to the marketplace's NA
2
The seller receives a notification from the marketplace about the money being credited to their account and fulfills their delivery obligations.
3
The seller and the buyer confirm to the marketplace the execution of the transaction.
4
The marketplace transfers the money to the seller based on the closing documents, and returns the remaining amount to the buyer.
Service advantages
For Buyers
- You buy the required volume without excess, the remaining money is automatically returned to your account.
- The seller guarantees quality goods, as they will receive money only after your confirmation that the goods have been received.
For Suppliers
- You sell directly to reliable buyers. Money for the Goods shipped to the Buyer has already been received by the Marketplace and is held in a nominal account until the transaction for its delivery to the Buyer is completed.
- The buyer trusts more, which means they prioritize you as a new supplier and increase your rating for subsequent orders.