How about a global blocklist? Ratings for B2B trades are here!

August 3, 2021

Global trade is not for the faint hearted. Logistics bottlenecks, local regulations and changing market conditions pose all kinds of challenges for both exporters and importers. In this post we share an idea to make everyone's lives a little easier.

Global trade challenges

Containers stuck in the port, cancellations, unjustified quality claims; one of the implications of global trade is that you are doing business with different customers in different parts of the world. When something goes wrong, or a contract is not carried out, it’s often hard to get the right solution. Even though conditions are agreed upon beforehand, disputes and court cases in many countries usually lead to more frustration and wasted time and money. Not to solutions. 

Typically, companies keep track of customers/suppliers performance in their administration. A blocklist, or allowed list keeps track of trading counterparties with good and bad performances. However, these insights are not shared among the trading community. No one likes to air the dirty laundry….

B2C as an example: ratings are here

This leads to avoidable mistakes. Due to the lack of information sharing, many companies “fall into the same trap”. This leads to damages, frustration and sometimes even a total write-off of goods. 

“The only way to find out if you can trust somebody is to trust them”. Or is it? What if a company could keep a simple log of every trade conducted and rate the counterparty after the trade? Was the service nice? Did the buyer pick up the containers in time? Was the quality according to contract? 

We offer a post-transaction rating service and show results to the users on the platform. In this way, we endorse good behavior and good service. Inspired by B2C platforms, even more valuable in the B2B world. 

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