Simplify is a B2B platform that directly connects tea buyers with verified tea suppliers across India. Tea buyers access the platform at no cost, pay 0 commission and can also utilize Simplify's escrow functionality where payment is released to tea suppliers only after the supplier has uploaded proof of shipment or transport of tea (”money in escrow” flow). For tea suppliers, Simplify gives suppliers access to tea buyers globally, charges a significantly reduced transaction fee of 1% capped at Rs 30,000 annually, and significantly reduces the time to sell tea. By paying a reduced commission and not having to send the tea to designated warehouses, suppliers realize significant cost savings. Moreover, access to tea buyers globally enables suppliers to realize optimal price discovery for their teas.
Simplify benefits tea suppliers in the following ways:
Access to tea buyers globally, leading to optimal price discovery
Escrow account functionality to provide payment protection
Significantly reduced commission of 1% per transaction capped at Rs 30,000 annually.
No requirement to transport tea to designated warehouses, significantly reducing costs
Tea buyers access the platform free of cost and enjoy below benefits:
Access to tea suppliers across India, leading to better price discovery
Only pay supplier after shipping document has been uploaded if escrow functionality is used
Pay 0 commission fees
Ability to view sample of tea before purchase
Payment after delivery facility also available
The platform offers 3 payment terms as explained below. All payments must go through the platform’s escrow account in order to protect both the buyer and supplier. Details of the escrow account is shown in the order details screen of every order. The number of payments executed through the platform significantly impacts the buyer’s and supplier’s rating in the platform, which is used to rank suppliers in the search results.
Money in escrow: Buyer transfers money to Simplify’s escrow account. Once money is received in the escrow, a delivery order is generated, which the buyer can use to pick up the item. Payment is released to the supplier from our escrow account either 5 working days after the supplier uploads proof of shipping or once the buyer indicates that he/she has picked up the item, whichever happens earlier. Suppliers should not ship the tea before the money is in the escrow account for this function.
15 days credit: As soon as supplier accepts the order, system generates a delivery order. Buyer can use delivery order to pick up the item. Buyer has to transfer money to Simplify’s escrow account within 15 days from the date when the buyer picked up the tea or the supplier uploaded proof of shipping, whichever happens earlier. Payment is transferred to supplier once we receive money in the escrow account ,and buyer indicates item received or 15 working days after supplier uploads proof of shipping, whichever happens earlier
30 days credit: As soon as supplier accepts the order, system generates a delivery order. Buyer can use delivery order to pick up the item. Buyer has to transfer money to Simplify’s escrow account within 30 days from the date when the buyer picked up the tea or the supplier uploaded proof of shipping of tea, whichever happens earlier. Payment is transferred to supplier once we receive money in the escrow account ,and buyer indicates item received or 30 working days after supplier uploads proof of shipping, whichever happens earlier.
The platform is offered free of cost to buyers. Suppliers have to pay minimal commission of 1% per transaction capped at Rs 30,000 annually. Thus, supplier’s cost is capped at Rs 30,000 annually.