Which products are traded on ChemOrbis?

ChemOrbis is premiering with plastics. The products currently being traded include PP, LDPE, HDPE, LLDPE, PVC and PS. Soon PET, ABS, fiber intermediates, aromatics, alcohols, Naphtha, EDC, VCM and Olefins will be added to the product list.  [ Yukarı ]

How can I trade on ChemOrbis?

The members can obtain the best price under the best conditions (currently available on the market) by using single bid or multiple bid auctions. The members can set contract details such as product specifications, shipment terms and time, the payment terms as well as the auction details like the starting date and time,the identity of the participants and who should participate according to their own strategies. It's possible to remain anonymous during the auction per auctioneer's request. An anonymous environment enables the participants to place offers more confidently since they don't have to reveal their needs or positions with respect to a certain product.  [ Yukarı ]

Can all ChemOrbis members create and participate in both buyer and seller auctions?

ChemOrbis members are categorized under four categories:

1. Buyer: Members who purchase goods traded on ChemOrbis for their own consumption and not for reselling.
2. Supplier: Members who produce goods traded on ChemOrbis or their affiliated offices outside their country of foundation or unaffiliated companies with representation to act as exclusive agent.
3. Trader: Members who re-sell goods produced / sold by suppliers as defined above on an ex-proforma basis without acting as an exclusive agent.
4. Distributor: Members who re-sell goods produced / sold by suppliers as defined above (by maintaining local inventory where necessary) on an ex-inventory basis without acting as an exclusive agent.

Authorization to create and participate in buyer / seller auctions is defined below:

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Can I participate in an auction that I can view on the Auction Homepage?

The Auctioneer decides who can participate in an auction. If you can view the auction details on the Auctions Homepage then you can participate. Any auction number clickable on this screen means it is open to all members, you have been invited to participate, or you may seek permission to join.  [ Yukarı ]

Since ChemOrbis is bilingual does everything on the English site match the Turkish site, including forms and contract specifications? And in which language should I bid?

Yes. All forms and contract specifications are exactly the same in both languages. Therefore, when your trading partner fills in a form in Turkish you will be able to see the same information in English. And also you could create an auction and bid in both languages.  [ Yukarı ]

Is there a restriction as to auction duration?

Yes. An auction can be 24 hours long at the maximum, but it's highly recommended that you keep your auctions as short as possible for more effective trading.  [ Yukarı ]

Can I schedule an auction for next week or next month?

Yes.  [ Yukarı ]

Is there a limit for the quantity of the product when creating an auction?

Yes. The minimum quantity required to create an auction is 15 metric tons.  [ Yukarı ]

When identities are anonymous, how can I learn from whom I will buy or to whom I will sell?

Once the auction is concluded, the auctioneer and the winning bidder's identities will be disclosed to one another. In single bids, after the auction is concluded the auctioneer can see the participants' identity. However the identity of the auctioneer won't be disclosed. After the auction is concluded both the auctioneer and the participants will know each others identity from the contract on the auction conclusion page.  [ Yukarı ]

What is the difference between known and anonymous prices?

The price offers made by bidders in an auction can be known or anonymous. This decision is made by the Auctioneer. If prices are known, then every member participating in the auction will know the prices offered by every bidder. If prices are anonymous, only the Auctioneer can view all the prices, the bidders on the other hand can see only their own prices.If the offer is the best one calculated by the system, among the other offers to the auction, it is highlighted in orange.  [ Yukarı ]

Who decides who will participate in an auction and how?

The Auctioneer decides who can participate in an auction. The selection of the bidders can be done in several ways. The auction can be open to all ChemOrbis members or can be limited to certain members. If the Auctioneer decides to restrict participation, he/she may allow members to seek permission to participate or they may completely exclude some members, in which case those members will not be able to view the auction.  [ Yukarı ]

How can I define the Shipment Terms?

The Auctioneer specifies the shipment term when defining the auction details. The Auctioneer may wish to use only one shipment term or may prefer to receive offers with alternative shipment terms (max 5). It is not possible to offer shipment terms other than those set by the Auctioneer. If the auctioneer accepts multiple shipment terms, then the system will enumerate the bids on the basis of the auctioneer's preferred term. When specifying the alternatives, the auctioneer has to indicate the cost difference for each alternative inco term with respect to the preferred one.   [ Yukarı ]

How can I specify the Payment Terms?

Payment terms are defined by the Auctioneer. Two different payment terms may be selected:

Preferred Payment Terms: It is the preferred way of payment once the transaction is concluded. If the autioneer would choose to pay with Domestic Payment Terms, in advanced, upon delivery and deferred terms boxes must be equal to 100.
Alternative Payment Terms (1 & 2 & 3): In addition to the preferred payment term, alternative payment terms can be given. In order for the system to level the bids, the auctioneer should indicate the cost difference for each alternative payment term with respect to the preferred one.  [ Yukarı ]

Is it possible to extend an auction?

The Auctioneer decides whether he will extend the auction or not while defining the auction details. He may choose not to extend the auction or he may choose to have it automatically extended if certain conditions occur by the time the auction time has expired. This time could be minimum 5 minutes, and maximum 30 minutes.  [ Yukarı ]

Under which conditions can I extend an auction?

An auction will be extended only under the following conditions (realization of one of the selected conditions is good enough for extension):

- Less than 3 companies participated in the auction
- At least 50% of the bids were placed in the last 5 minutes

Once the auction expires, the system will check if the selected conditions are met and will extend the auction if it is the case. An auction can be extended for a minimum of 5 minutes and up to a maximum of 30 minutes.  [ Yukarı ]

What happens after the auction?

After the end of the auction duration within 15 minutes, the auctioneer decides whether to conclude the auction or start the negotiation phase. This period cannot be longer than 1 hour.  [ Yukarı ]

What is Negogitaion Phase?

At the end of the bidding phase, the auctioneer may choose up to 3 offers made during the bidding phase and invite the bidders to negotiate the price, quantity, shipment and payment terms.  [ Yukarı ]

Does ChemOrbis consider the duty cost incurred for imported goods which are subject to customs duty during the bidding process?

Yes. The system will automatically calculate the duty cost incurred for goods imported to Turkey and the participants will be able to view it during the bidding process.  [ Yukarı ]