FAQ - Buy & Sell
What is the Buy & Sell module?
The Buy & Sell module is an online electronic commerce application for electronic components. Buyers can submit RFQs that detail the parts that they need and suppliers can respond with quotes on pricing and availability. In addition, the system stores the transaction information for the benefit of the members, who can search previous RFQs, quotes, and purchase orders.
How do I place an RFQ?
After logging into the system, select the Buy & Sell module function and then select the option 'Request for Quote'. You will get a table that displays all of your outstanding RFQs with quotes. Select the 'Create RFQ' function and begin entering your requirement.
What if I have questions on an RFQ?
The system provides an ad hoc discussion tool that permits the buyer and supplier to exchange information much like an email system. The discussion tool can be used to negotiate a price or to arrange alternative products or deal with any other of a number of issues.
How long does an RFQ last?
The buyer sets the response time on each individual RFQ. The time is set at the top of the RFQ page in the field titled 'Respond by'.
How many suppliers bid on an RFQ?
An RFQ may contain as many parts as the buyer needs and the buyer can designate up to four suppliers per part on an RFQ. The buyer may choose any supplier from his or her preferred supplier list for each part.
What happens when the RFQ is closed?
Once all of the quotes have been received, the buyer chooses one or more suppliers for each part listed on the RFQ and may then create a purchase order on the PartMiner Free Trade Zone. It should be noted that, as in normal business practice, the buyer is not obligated to purchase any of the parts until a purchase order is generated.
Does the PartMiner Free Trade Zone provide credit rating data?
No, the PartMiner Free Trade Zone does not provide credit rating data. That information can be obtained from financial services such as Dun & Bradstreet. |
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