Belarusian universal commodity exchange offers services for Turkmen companies

12:2112.03.2020
0
7387
Belarusian universal commodity exchange offers services for Turkmen companies

The customer base of the Belarusian universal commodity exchange (BUCE) includes more than 22 thousand companies from 63 countries, including 11 from Turkmenistan. Every year, it makes more than 300 thousand transactions worth 2.1 billion USD.

Today, almost all goods that form the basis of trade turnover between Belarus and Turkmenistan are represented on the trading platforms of the BUCE: 

  • food products (sugar, dairy products, vegetable oils);
  • woodworking products (lumber, plywood, wood slabs);
  • ferrous metal products;
  • building materials;
  • machinery and equipment.

At the same time, exchange trading allows you to purchase the necessary products directly from manufacturers or first suppliers, which provides more favorable conditions than when working under direct contracts.

The risk of non-delivery of goods or non-receipt of payment for shipped products is minimized, because:

  • only proven companies with an impeccable business reputation are allowed to bid, which automatically eliminates unreliable market participants;
  • bidders can additionally insure themselves against breach of contractual obligations by a business partner by using the exchange's sub-accounts for mutual settlements. In this case the seller receives payment only after confirming the acceptance of the product by the buyer;
  • the exchange has a Department for support of exchange transactions, which helps to resolve most conflict situations in pre-trial order;
  • if there are disagreements that cannot be resolved amicably, bidders can apply to the Arbitration Commission that operates on the exchange. It has the status of an economic court and promptly makes decisions on all disputed issues.

Thus, a Turkmen company accredited on the exchange receives the following main advantages:

  • an additional channel for selling goods is simplified access to the market of Belarus and the countries of the Eurasian economic Union.
  • saving time and minimizing marketing costs-the exchange accumulates supply and demand for products, eliminating the need to search for potential partners.
  • entering the markets of third countries - " transit transactions "can be concluded between two foreign companies (Turkmenistan – Lithuania, Turkmenistan – Poland, Turkmenistan – Ukraine, etc.) without the participation of residents of the Republic of Belarus.
  • control of transaction execution-the mechanism for supporting exchange transactions implemented on the BUCE allows ensuring full and timely fulfillment of obligations under exchange contracts. 
  • payment security – the ability to settle transactions through the exchange sub-account under the "delivery versus payment" scheme.
  • product expertise-the ability to order an expert examination of the product both at the stage of shipment and at the stage of acceptance.
  • exchange Analytics – up-to-date analytical information about the commodity exchange market of the Republic of Belarus.
  • electronic document management – the use of electronic contracts, invoices, and consignment notes.
  • free services – free electronic digital signature, training, software, transaction support, use of an exchange sub-account.
  • contact center – professional technical support and advice on all issues of participation in stock trading.

The Belarusian universal commodity exchange is open for cooperation and is ready to provide the necessary assistance to any Turkmen company interested in working in the market of the Republic of Belarus!

Information about BUCE

The Belarusian universal commodity exchange is the only commodity exchange in the Republic of Belarus and the largest spot exchange in Eastern Europe.

All transactions involve physical delivery of the product. Exchange trades are conducted electronically via the Internet using an electronic digital signature (EDS), which is issued free of charge to all bidders.

There are two ways to trade on the exchange: 

  • independently (you need to be accredited and get an EDS); 
  • through a stock broker – a professional participant in exchange trading who provides services for making exchange transactions.

Today, about 40 Belarusian and foreign brokers cooperate with the exchange.

Accreditation

In order to trade independently on the BUCE, you must pass the accreditation procedure. To do this, you need: 

  1. Register using an SMS code on the site www.ecp.by
  2. Log in to your personal account, fill out a special form with information about your company and upload pre-scanned copies:
  • identification document;
  • extracts from the commercial register with translation into Belarusian, Russian or English;
  • power of attorney for your representative who will participate in the auction on your behalf.

       3. After reviewing the documents, the exchange will receive the EDS key.
       4. Using the EDS key, form and sign a contract for exchange services.

Exchange trade

All products admitted to exchange trading are distributed in 5 sections:

  1. metal products – ferrous metals, scrap and waste of ferrous metals, non-ferrous metals, scrap and waste of non-ferrous metals, cable and wire products, coke, coal, etc.
  2. timber products – round timber, lumber, wood slabs, plywood, paper, cardboard, fuel briquettes and pellets, wood chips, logging services, etc.
  3. agricultural products – dry milk, technical casein, butter, whey, cottage cheese, cheeses, flour, grain, oilseed meal, feed additives, raw leather, etc.
  4. industrial and consumer goods – the entire range of industrial and consumer goods.
  5. promising commodities-cement, crushed stone, plant protection products, seeds for sowing.

Public procurement

BUCE performs the functions of an operator of an electronic trading platform (ETP) for the implementation of public procurement in electronic format (WWW.ZAKUPKI.BUTB.BY). 

There are 4 types of purchasing procedures on the site: electronic auction, request for price offers, open auction, and single-source purchasing. The ETP is used for both public procurement and procurement at the expense of organizations own funds. 

E- auction of property

BUCE is also the operator of the electronic trading platform for the sale of property and property rights "BUCE -Property" (WWW.ET.BUTB.BY). 

The subject of bidding can be buildings, structures, machinery, equipment, vehicles, land plots, rights to conclude lease agreements, etc. at the same time, it is possible to sell both state property and property that is privately owned.

Not only Belarusian, but also foreign legal entities and individuals can participate in electronic auctions.
 

Comments
To leave a comment, log in or register