[App Information]

It is a public marketplace electronic transaction app with legal status where multiple producers and buyers transact through bidding, fixed price, or private sale through an online-based transaction system.

What is the purpose of Nonghyup Public Market Electronic Transaction Platform business operation?
The purpose is to obtain fair prices for agricultural products, strengthen price stability functions, and improve distribution efficiency through electronic wholesale transactions at nationwide public markets.

[What is the role of each transaction entity? ]

■ Nonghyup Economic Holdings
We are fully responsible for establishing and managing the transaction system, and are able to provide local support and respond to claims quickly through the operation of local resources.

■ Shipping destination
We develop exclusive products, register shipments, and ship products that are listed online and have transactions concluded to the buyer's destination.

■ Buyer
You make an agreement with the public market and participate in the purchase through bidding or fixed price transaction, and after receiving and inspecting the product, the credit amount is paid to the public market.

■ The trial venue is
Register the shipping address, conclude the buyer's transaction agreement, and settle the payment between the buyer and seller.

[What are the characteristics of the public hearing electronic trading platform? ]

Existing offline transactions can be traded nationwide for each item through bidding and fixed price private sales through an online-based transaction system.

■ Bidding
- The shipper presents the lowest bid price, minimum delivery quantity (pallet unit), etc.
- Buyers register to bid at or above the lowest price and minimum quantity suggested by the shipping company.
- The successful bidder is the person who offers the highest price among the bidders, and the winning price is determined by the highest price among the bid prices.

■ Fixed price transaction
- The shipper registers the desired transaction price, minimum delivery quantity (pallet unit), etc.
- Buyer registers purchase if desired.
- The price is determined by the desired transaction price registered by the shipper, and the buyer only proceeds with the transaction at the desired transaction price registered by the shipper.

■ Normal and logistics system
- Payment settlement: Settlement is carried out with the shipper and the buyer at the public warehouse agreed upon by the buyer for confirmed transactions after the buyer has received and inspected the product (Payment is made on the same day as the transaction is confirmed, and transactions after closing are paid the next day)

- Business settlement: Shipment registration (shipper) -> Bidding/purchase (buyer) -> Successful bid through bidding system -> Delivery -> Receipt confirmation -> Transaction confirmation -> Settlement
At the time of transaction confirmation, a transaction-related form is automatically generated by the system and delivered to the transaction hearing room.

- Delivery principle: Delivery directly to the location desired by the buyer.
The delivery deadline is the next day of the transaction (however, transactions made after 2 p.m. will be delivered within 2 days)

[ Public electronic trading platform listing fee rate ]

- 2% reduction compared to the 7% maximum commission rate for general auctions