Settlement Service

Protecting both buyer & seller

The digitalised settlement service

1
Transaction details
Step 1
2
Compliance
Step 2
3
Agreement
Step 3
4
Send funds
Step 4
5
Deliver goods
Step 5
6
Release funds
Step 6
Settlement process
The settlement process comprises the following steps:
  1. Both parties agree to the specific terms of the transaction, such as price, INCO terms, delivery dates and payment milestones.
  2. Both parties proceed with the submission of required ‘Know Your Customer’ (KYC) data to the Escrow Agent for onboarding. Approval is usually a matter of days, subject to a full and complete submission and no issues of concern arising.
  3. All parties confirm their formal acceptance of the Escrow Agreement.
  4. Buyer makes a deposit payment into the Escrow account in accordance with the agreement. As soon as the cargo is ‘ready for shipment’, the outstanding balance is due and paid into the Escrow account by the buyer.
  5. Following acknowledgement of the payment by the Escrow Agent, the seller will ship the goods to the buyer in accordance with the agreement.
  6. After confirmation of delivery, the goods are available to the buyer and the funds will be transferred to the seller by the Escrow Agent.
All the above steps are facilitated through the Mercurion platform

The digital alternative

Existing trade security

Like the L/C or Guarantee

Mercurion’s platform

The digital alternative
1
Complex
Difficult to meet all requirements
1
Easy to use
Efficicient and accessible online
2
Bureaucratic
Variable processes of multiple banks
2
Simple
Convenient and efficient compliance process
3
Time consuming
Processes take too much time to complete
3
Efficient
Faster settlement of transactions
4
Expensive
Non-transparant and many variable costs
4
Affordable
Transparent and cheaper than existing services
5
Risky
Risk of theft, fraud or loss of original documents
5
Completely digital
No risk of losing documents
6
Insecure
Dependent on financial strength of issuing bank
6
Baltic Exchange
A well established and secure institution in international trade

Introducing the Baltic Exchange

Trusted since 1744

The Mercurion platform fully digitalized the Escrow process executed by the Baltic Exchange. All communication is conducted through the platform, from uploading documents to signing the Escrow agreement with the Baltic Exchange.

Trust and independence are crucial qualities of an escrow agent. With the Baltic Exchange you can assure yourself that your escrow needs will be executed by a very professional and well established independent service provider. The Baltic exchange is headquartered in London and a fully owned subsidiary of the Singapore Exchange (SGX).

In combination with the Mercurion Platform settlement of your transactions becomes efficient, flexible and secure.

Baltic Exchange Website

Because trade should be easy

Open an account and experience how easy international trade can be.

By using this website, you agree to the storing of cookies on your device. View our Privacy Policy for more information.

Accept