Enabling You To Trade With Confidence!

What is this?

Digikraal Secure reduces the risk during cattle deals by being a trusted and independent third party in transactions between sellers and buyers in the cattle industry. 

Why Use Digikraal Secure?

There is a lot that can go wrong during a cattle deal. Anything from delays, deaths, non-payment, weight issues and fraud can be an issue. This is why we created Digikraal Secure! Through using Digikraal Secure, both buyers and sellers can trade freely, knowing that they are protected when things go wrong during a deal. 

How Does It Work?

I am Selling Cattle

Don’t feel comfortable delivering your cattle to a buyer without having the funds secured?

We understand that it is always risky business for a you to deliver to a buyer before receiving payment. This is why, with Digikraal Secure, you can trade freely knowing that the buyer’s funds are safely held by us and released once the buyer receives and accepts the cattle purchased.

Digikraal Secure works as follows:

Step 1: Register

Once you are registered for the service, you will receive a mandate from us, granting us permission to hold funds on your behalf during a deal.

Step 2: Launch Deal

Using the Digikraal Secure dashboard, you can easily launch a deal by submitting the information of the cattle you are selling and who the buyer (counter party) is going to be. At this stage, the weight of the cattle you have to provide only needs to be an estimate.

Step 3: Counter Party Invite

Once you have launched your deal, the buyer is going to receive a invitation to register for the Digikraal Secure service. Please tell them accept the invitation before proceeding further.

Step 4: Agreement 

Once both you and buyer have registered, a Sales Terms Sheet (which includes your deal’s information) will be sent to both parties for signing. The Sales Terms Sheet can be signed right on your computer or cellphone without needing printers and scanners.

Step 5: Buyer Payment

Once you and the buyer have signed the Sales Terms Sheet, the buyer will deposit the funds into an independent and audited Trust Account owned and managed by Finex SA (Pty) Ltd registration number 2014/059227/07, a registered financial services provider (FSP number 45242).

Step 6: Loading, Transport and Reconciliations

After the buyer’s funds have been deposited, you may proceed with loading the cattle for transport. Once the link has been weighed at both your and the buyer’s weigh bridges, a reconciliation will be done (based on the estimated and actual weights) to calculate whether the buyer should be partially refunded, or whether the buyer should pay you extra.

Step 7: Fund Release

Once the cattle have safely arrived at the delivery address, and are accepted by the buyer, the funds are released to you.

I am Buying Cattle

Don’t feel comfortable paying for cattle before they have been delivered to you?

You can never be completely sure what you get until your new cattle are delivered to you. By using Digikraal Secure, you can feel at ease paying for cattle before they are loaded, knowing that your money is kept safely with us and only released to the seller once the cattle arrive and are accepted by you.

Digikraal Secure works as follows:

Step 1: Register

Once you are registered for the service, you will receive a mandate from us, granting us permission to hold funds on your behalf during a deal. The registration is only required once.

Step 2: Launch Deal

Using the Digikraal Secure dashboard, you can easily launch a deal by inviting the seller to the deal and asking them to submit the required deal information.

Step 3: Counter Party Invite

Once you have launched your deal, the seller is going to receive a invitation to register for the Digikraal Secure service and to submit the required deal information to proceed securely.

Step 4: Agreement 

Once both you and the seller have registered, a Sales Terms Sheet (which includes your deal’s information) will be sent to both parties for signing. The Sales Terms Sheet can be signed right on your computer or cellphone without needing printers and scanners.

Step 5: Buyer Payment

Once you and the seller have signed the Sales Terms Sheet, you will be required to deposit the funds into an independent and audited Trust Account owned and managed by Finex SA (Pty) Ltd registration number 2014/059227/07, a registered financial services provider (FSP number 45242).

Step 6: Loading, Transport and Reconciliations

After your funds have been deposited, the seller may proceed with loading the cattle for transport. Once the link has been weighed at both the seller and your weigh bridges, a reconciliation will be done (based on the estimated and actual weights) to calculate whether the you should be partially refunded, or whether the seller should pay you extra.

Step 7: Fund Release

Once the cattle have safely arrived at the delivery address, and are accepted by you, the funds are released to the seller.

Fees

Digikraal Secure charges a flat rate of 1% on the total transaction value. This fee is deducted from the funds released to the seller, and it is up to the buyer and seller to agree how the fees is going to be split. Here are some examples:

A) Seller Pays Fee

If the seller is saying the fee, it is simply subtracted from the final amount released to them.

B) Buyer Pays Fee

If the buyer is paying the fee, then the seller will have to include this fee in the purchase price of the cattle which will be deposited in the trust account.

C) Buyer and Seller Split Fee 50/50

In this case, the buyer will simply deposit 0.5% extra into the trust account, and 0.5% is subtracted from the final amount released to the seller.

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