FarmTrade.com is an interactive trading process designed specifically for use in the agricultural industry. Through innovative technology, FarmTrade.com enables buyers and sellers of crop input materials to conduct online commerce over the Internet.
FarmTrade.com charges sellers a fee on successfully completed trades. There are no listing fees or service charges for unsuccessful trades.
A ‘Name Your Price’ listing (or reverse auction) is where a buyer lists the product he wants to buy and allows potential sellers to bid for the business. This feature allows buyers to list the products they want at a given price and for a given quantity. Sellers who are willing to meet the asking price and quantity win the business immediately upon bidding. If a potential seller wants to offer a price higher than the asking price, he may enter that offer, which will be recorded and shown on the site, but it will not constitute a sale. The buyer may accept individual offers which exceed his initial price without raising it for all sellers. In any case, a sale is made only when the asking and offering price meet.