About the company
Nevica Pty Ltd, an Australian importer of premium Arabica coffee beans, sources from diverse origins. To address trade risks with smaller exporters, the company adopted Tridge Pay’s Escrow service, ensuring payments are only released upon confirmed shipment. This protected Nevica from direct financial losses, supporting the company for secure expansion in global sourcing.
Challenges
When dealing with smaller exporters, Nevica Pty Ltd repeatedly faced significant risks:
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Frequent shipment delays or failures to ship
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Incidents where advance payments were made but shipments were not received, resulting in direct financial losses
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Increased operational costs and manpower required to manage and mitigate these risks
Solution: Tridge Pay Escrow
To address these challenges, Nevica Pty Ltd implemented the Tridge Pay Escrow service. Under this system, payment is securely held by Tridge Pay and is only released to the exporter once the shipment is completed within the mutually agreed timeframe. This ensures that exporters are only paid upon fulfillment of their contractual obligations.
Results & Benefits
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Full Financial Risk Mitigation
Even in cases where certain exporters failed to fulfill contracts, Nevica Pty Ltd was able to recover 100% of its advance payments, as funds remained safely held in escrow.
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Direct Loss Prevention
The company effectively eliminated direct financial losses from non-performance, incurring only opportunity costs related to delayed shipments.
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Enhanced Trust and Efficiency
The escrow model increased trust between trading partners and reduced the resources required for transaction monitoring and risk management.
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Foundation for Business Expansion
With a safer and more reliable transaction structure, Nevica Pty Ltd is now better positioned to expand its network and engage with new suppliers from diverse origins.
Nevica Pty Ltd plans to further expand the use of Tridge Pay Escrow in future transactions and strongly recommends escrow solutions to other importers seeking to effectively manage payment and shipment risks in global trade.
“With Escrow which is perfectly designed for importers, we protected ourselves from financial risks and built stronger, more trusted relationships with key partners.”
David Hersham
Chief Executive Officer
Contact us
For any inquiries, please contact us using the details provided below.
Phone
+852 3905 1804
Address
20/F, Cityplaza Three, 14 Taikoo Wan Rd, Quarry Bay, Hong Kong
Email for CS inquiries
cs@pay.tridge.com
Email for Business inquiries
business@pay.tridge.com
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