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How trade negotiation works on Boex

Once a Trade has been initiated, you can negotiate or comment on specific elements of the trade.

Nathan Simms avatar
Written by Nathan Simms
Updated over a week ago
An alert stating that "Terms and Documents are In review with the other party and cannot be edited. You can edit and submit changes for the sections that are not negotiable in this bill."

The platform facilitates communication between trading partners regarding a trade and maintains a complete history of these interactions. Once a trade is initiated, the ability to comment and negotiate passes between the Drawer and the Counterparty until both parties reach an agreement and sign the document.

A table displaying 3 columns; Date of creation - Status - Actions. The status is in negotiation.

Commenting and Negotiating Process

  • The Drawer and Counterparty receive email notifications when their input is required. This means they must access the trade to approve or comment on any of the terms or documents within the trade.

    An email alerting the recipient that the bill of exchange was updated by a trade parter. A blue button underneath of that says "Review changes"

  • Comments cannot be made on banking information, Notify Parties, or Enhancers.

  • A green comment icon indicates new comments, which appear on sections and fields where input has been provided.

    Green button with "New comments" written next to it

  • Users can create new comments on any field by clicking "View / Add Comments."

    The image shows a section from a digital contract or trade agreement platform titled “Terms”, with two listed terms: Incoterms® Value: EXW (Ex Works) Status: Accepted (indicated by a green "Accepted" label) A green comment icon suggests that comments are available. Amount Value: 60,000.10 GBP Status: In Review (marked with an orange "In Review" label) The amount and currency fields are editable and currently show "60,000.10" and "GBP", respectively. A link labeled “View / Add comments” with a green comment icon appears below. There is also an “Edit term” button on the top right, indicating that the user can modify these terms.

  • Previously read comments are marked with a brown comment icon.

    Brown previously read comment icon

  • The comment field functions like a standard comment box but with one key difference: you must submit the trade for your comments to be sent to the Counterparty.

A comments section where the counterparty has commented and agreed to the date.

Need Help?

If you have any other questions on negotiating/commenting on elements within a trade, feel free to contact our support team at [email protected].

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