Trust is the backbone of waste and biofuel transactions. BioTradX ensures every trade; whether it’s UCO, biomass, biofuels, scrap, or any industrial by-product; is protected through a secure escrow system designed to eliminate payment risks for both buyers and sellers.
Here’s a quick overview of how BioTradX Payment Protection works.
1. What Is BioTradX Escrow?
BioTradX Escrow is a secure holding system that stores the buyer’s payment until the order is successfully delivered and confirmed.
This ensures:
- Sellers receive guaranteed payment once agreed terms are fulfilled.
- Buyers pay only the minimal upfront amount required to initiate the order.
- The remaining payment is settled at the time of delivery or pickup, after QC and confirmation.
- No offline negotiation, hidden terms, or payment disputes can occur.
BioTradX Escrow keeps the entire payment journey transparent, secure, and compliant; ensuring trust in every transaction.
2. How Payment Protection Works
Step 1 — Buyer Accepts a Quote
Once a buyer finalises price and quantity with a seller, and accepts the order. It will move to Awaiting Payment.
Step 2 — Buyer Pays Upfront Payment (via Payment Gateway) Into Escrow
Buyers make payment through any of the following options:
- UPI
- Net Banking / Bank Transfer (for high-value trades)
- Cards
Funds are securely held in BioTradX Escrow; not released to the seller yet.
Step 3 — Seller Dispatches or Confirms Pickup
The seller proceeds with:
- Dispatch (delivery orders), or
- Pickup confirmation (if buyer is picking up)
QC uploads are done here if required by the RFQ/listing.
Step 4 — Buyer Confirms Delivery & Quality
Once the goods arrive:
- The buyer inspects the quantity and quality as per the agreed terms and enters accepted quantity and quality when prompted by the system. Quality score will proportionally adjust price to arrive at the final total amount.
- The buyer then uploads QC results (if QC was agreed as part of the order).
- After confirming QC, the buyer pays the remaining amount, completing the full payment as per the accepted quote.
- The buyer also confirms that the final price and quality match in agreement with the seller.
Once the buyer completes these steps, the seller must confirm delivery from their side on the application to initiate the payout release process.
Step 5 — Escrow Releases Payment
Payment is released to the seller at pre-defined payout cycle window (T+1) once:
- Seller confirms delivery
Settlement/ Billing reports are visible in the Payments Dashboard for both parties.
Quote Accepted
Upfront Payment
Dispatch / Pickup
Delivery + QC
Escrow Release
3. Why Escrow Matters in Waste & Biofuel Trade
Eliminates Payment Fraud
Sellers no longer worry about buyers delaying or defaulting on payments.
Zero-Risk Buying
Buyers only release funds after verifying goods.
Transparent, Traceable Transactions
Every payment is digitally recorded and accessible anytime.
Reduced Operational Disputes
Clear QC workflows reduce misunderstandings between both parties.
Faster Trade Cycles
Automated steps mean fewer phone calls, fewer disputes, and quicker settlements.
4. What Is Covered Under BioTradX Payment Protection?
- Buyer payments held securely until delivery validation
- Mandatory QC uploads (when required by RFQ)
- Auto-confirmation safeguards
- Seller-side assurance of guaranteed payment
- Buyer-side assurance of receiving goods as agreed
5. Buyer & Seller Responsibilities
Buyers Must:
- Pay promptly after quote acceptance
- Confirm delivery or raise concerns within the allowed window
- Provide QC if they selected “Buyer QC After Delivery”
Sellers Must:
- Upload QC documents if required
- Deliver within the timeline agreed during quote negotiation