New features: Supplier data management, auction mode and more...

Driven by our main goal of contributing to the success of our users, Metalshub added new innovative features in July to improve the user experience and enhance the usability of our platform. Among many other functionalities, here are the must-know features which will help our users to negotiate faster and with more ease.


Supplier Data Management - a paperless approach to supplier management

We updated our Supplier Data Management section by including a detailed supplier questionnaire and document management module.

  • Metalshub users can now upload all their documents in their company profile - manage your insurance documents and reports in one place
  • Users can add suppliers available on the platform to their approved supplier list, with further classification also available for suppliers (status): new, approved, or preferred
  • If the suppliers have uploaded their documents and filled out the self-disclosure, users will see all their information on the company profile
  • Users can also download or print this information for their convenience

supplier data management metalshub

Auction Mode – auction mode listings now available

Metalshub users now have the possibility to create auction listings on the platform. The key features in auction mode are as follow:

  • Distinct visualisation for auction listings in the marketplace
  • All terms except price are non-negotiable
  • All auction proposals are binding
  • Dynamically updated rank based on price for your counterparties
  • The countdown timer is always displayed

auction mode metalshub

Chat works smoother than ever!

Based on our users' feedback, we have now added the functionality to send and receive documents via the chat. Users will also see read receipts when their counterparties have seen the messages. As always, remember that all the terms discussed via the chat are not legally binding, and it is needed to change all terms and conclude the contract on the platform.

chat metalshub

Updates to Incoterms 2020 and relative General Terms & Conditions.

With the latest changes to Incoterms 2020, we have decided to update and align the Neutral General Terms and Conditions ("GTC") used for transactions accordingly, to ensure our platform is compliant with market needs and conditions. The following changes have therefore been applied:

  • Based on user feedback we improved the wording and definitions for greater clarity and alignment with platform nomenclature (e.g. confirmed contract instead of transaction confirmation)
  • After the introduction of the new Incoterms® 2020 we referenced Incoterms® 2020 instead of Incoterms® 2010
  • For more clarity we updated the wording for seller warranties regarding the chemical specifications in the contract
  • In order to make our neutral GTC applicable for all Incoterms® 2020 we clarified that the buyer must have physically received (and not just taken legal ownership) the product to be able to challenge the quality and weight certificates
  • To cater for the neutrality of the GTC we extended the Force Majeur clause to a mutual Force Majeur clause

For more details on Incoterms 2020, check out our latest blog post here.

What’s next?

  • As a result of the enormous interest in auction and supplier data management features, we will continue to add more functionalities and further improve them
  • We have started re-working the forms to make the proposal creation process more intuitive and smoother

Check all these features out, login or register to experience the future of metals trading!

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