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How it works

How it works

How it works


StockIT connects buyers and sellers in the paper industry. Buyers can easily put a bid on specific stock lists from paper mills. All stock lists in one place, easy as that!

Bid and follow auctions online through Desktop, Mobile or tablets.

Sell stock lists through a bidding procedure. Target specific countries.


1. Auctions every week

Each week several new specifications will be presented at www.stockit.se

During the whole time buyers can visit the site to read detailed descriptions of the stock lists and view pictures of them. We will also send information to bidders concerning the latest stock lists and market information.


2. FREE REGISTRATION

To place a bid, you must first register as a new member, which is free of charge and only takes a couple of seconds. Simply send us an email on hello@stockit.se and we will send you the details. We will then confirm your membership by sending you an email with official confirmation. Please also add relevant information about your company such as contact details etc. This is also highly appreciated by all the paper mills and a way for paper mills and customers to move their business closer to each other.


3. PLACE YOUR BIDS

As a registered member you simply sign in and place bids for the stock lists on sale. To place a bid, put the price you are willing to pay and then click on the Bid-tab. Buying and placing bids via Stockit is free of charge.


Countdown

On the top of the page you find the auctions countdown. 10 min before auction is concluded, all new bids will renew the countdown back to 10 min. If there are no more bids after the added 10 minutes, you are the winner! We advise you to click on Update in your browser if you'd like to see the highest bid right away and not risk losing the auction. Pleases bear in mind that there is a natural delay/lag on the Internet of minimum 4-5 seconds so we advise you not to place your bid in the very last seconds.


Minimum price level reached?

All stock lists/auctions have a reserve price (minimum price). The seller put this price level when up-loading the specification for auction. If the reserve price is not reached, then the seller has the right not to sell the object. The seller has up to max 6 hours to decide upon accepting the bidders price due to time difference between continents. Buyers bids therefore have to be valid for at least these 6 hours after auctions ending.

Please note that as the winning bidder you are always bound by your bid, even if the Minimum price level is not reached. (max 6 hours after concluded auction)


Minimum Bid Raise

The paper mill also put a lowest possible bid increase for each auction. It is always set in actual currency/MT. The minimum bid varies from auction to auction depending on size/value and is displayed on each auction. Practically this only means that the bidder might have to increase every bid with at least 0,5-1 USD/MT for each bid. It.s of course possible to raise bids with higher figures.


Auto bid function, how does it work?

If there is an auction that you are interested in but you have no chance to follow it live, simply place your highest acceptable price directly. The system will then do the bidding for you based on the minimum bid raise above (normally 0,5-1usd/mt) until it reaches a win for you or your maximum accepted auto-bid. If your maximal auto-bid is reached you will have to continue to raise manually or put in another maximal auto-bid. They system will send you notifications on email to keep you updated. Stockit is can never be held responsible for the legal aspects in auto-bidding, this means that all bids/terms/obligations placed by auto-function is up to the buyer to fulfill in total.


4. YOU HAVE THE WINNING BID. WHAT THEN?

If you have the winning bid when the auction concludes you will receive a confirmation by e-mail. The seller will send the contract to you, sign that directly and send it back to the paper mill. The seller will then proceed with the delivery. Please contact seller as soon as possible for arrangements and stay available for questions from the paper mill or the forwarder/shipper, trader etc. Both seller and buyer have a responsibility to cooperate and make the transaction of both goods and payments as smooth and cost-efficient as possible.


5 EXPORTS OF THE STOCK LISTS

The producer sells their stock list direct to the winning bidder or via a trading house. Large producers normally take care of their own exports, small producers normally use a trading house to act as seller who take care of exports, logistics, dox etc. Products are normally offered CIF or CFR etc i.e the freight and costs are included in the offers. There might be other terms as Ex works etc. Read the information carefully. (normally Incoterms based on D- or C-terms are used)

! Please read the terms carefully before bidding.


6. ABUSE

Stockit has the right that at any time block, unregister and list a seller or user from using the website forever or for a period of time. Decision upon blocking members is taken within the committee/board. Members have been blocked. Consequently, no longer being able to buy through the platform. We care about our trustable members.

Bids are legally binding and a winning bidder has to follow through with the order. All in accordance to general good international business manners.

Stockit is never responsible for the goods or the transactions of such or payments etc. The seller always has the final decision i.e. all goods are sold Subject their final confirmation. (This is the natural way of selling stock lists). Claims of goods or service are handled between the seller and the buyer, Stockit never take part in claims.

Furthermore, Stockit is never responsible for misprints etc of the information that is displayed on the website. When in doubt always send us or the seller an email with your questions.

All use of Stockit platform is sellers and/or buyers own risk.

!! Never place a bid if you are uncertain of what you are bidding for. Ask by email before bidding to avoid any misunderstandings and never place a bid that you cannot fulfill.


7. QUESTIONS TO STOCKIT?

Check the website, www.stockit.se or just drop us an email on hello@stockit.se


8. QUESTIONS TO THE MILLS?

Browse www.stockit.se to find all their contact details.

We wish you good luck, and good business!!


Happy Bidding!

Team Stockit




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