Buy Now Market

ROLES

Note: A Purchase Order ("Order") is a set of deliverables that comprise a combination of goods and services that are desired by a group of Buyers. An Order also includes the terms and conditions that govern the proposed transaction.

Author

Your role is to draft the requirements for a Purchase Order then coordinate that Order through its life cycle namely; draft, review, endorsement and publish. You will then coordinate the acquisition of commitments from Buyers and bids from Sellers. On behalf of the committed Buyers, you will select one or more bids from Sellers then consummate the transaction.

Reviewer

Your role is to review a draft Purchase Order in response to a request from an Author then supply feedback to that Author. The purpose of your feedback is to improve the potential success of the Purchase Order.

Endorser

Your role is to endorse a draft Purchase Order in response to a request from an Author. The purpose of your endorsement is to add credibility that will increase demand for the Purchase Order.

Buyer

Your role is to make a binding commitment to an Purchase Order then adhere to the agreed terms and conditions after the Author accepts at least one bid from at least one Seller.

Seller

Your role is to make one or more binding bids in response to a Purchase Order then supply the specified offerings in accordance with the agreed terms and conditions in the Purchase Order.

Arbitrator

Your role is to mediate among Buyers, Sellers and Authors after at least one of them has submitted a dispute. The purpose of your mediation is to recommend a resolution that is acceptable to all parties.

Underwriter

Your role is to guarantee a minimum purchase volume for an underwritten purchase order. If any committed Buyers are unable to meet their commitment then you are obligated to purchase the unfulfilled commitments up to the minimum purchase volume.

Insurer

Your role is to indemnify Buyers and Sellers for losses and to provide other insurance services to Buyers and Sellers. Insurance services can included coverage for shipping losses and also coverage for losses by Buyers after receipt of the goods and services.

Warrantor

Your role is to guarantee any repairs and the replacement of defective parts free of charge for a stated period of time for products purchased by Buyers.