Exchange Digital Completion Policy

The Exchange Digital Completion serves as notification to other members, indicating that your business uses features that facilitate frictionless trading on the Exchange. 

There are different roles you may adopt on the Exchange, for the purpose of this policy, please be aware of the following definitions:

Conditions for enabling Digital Completion

Whilst your Digital Completion is activated, you must ensure your business conforms to the following conditions for every transaction you undertake on the Exchange.

Load Posters:

All invoices must be submitted to you through Finance Manager, you may not request additional/duplicate invoices through any other channel, including email or hard copy, via post. 

All Proof of Delivery (PODs) documentation must be submitted to you and approved, through Finance Manager; you may not request additional/duplicate PODs through any other channel, including email or hard copy, via post. 

All invoices received must be approved or challenged within 5 days of receipt.

You must have FM Preferred or FM Required selected in your preferences.

Carriers:

You must submit all invoices via Finance Manager, failure to do so will result in all non-payment disputes you raise being automatically dismissed due to lack of evidence, you will not be permitted to provide evidence after submission. The Exchange will uphold all disputes against a load poster where valid invoices and PODs have been submitted and approved, where the subsequent payment has not been executed, as per the contractual due date.

You must submit a scanned/photographed copy of PODs via Finance Manager, failure to do so will result in all non-payment disputes raised being automatically dismissed. The Exchange will uphold all disputes against a load poster where invoices and PODs have been submitted and approved, where the subsequent payment has not been executed, as per the contractual due date.

You must have FM Preferred or FM Required selected in your preferences.

What if I have my Digital Completion enabled but the other counterparty doesn’t?

When you allocate a load on the Exchange, the terms you set out, including the status of your Digital Completion, become part of the contractual agreement between the Load Poster and the Carrier, the Load poster is bound by the conditions of the Digital Completion. 

What if a Load Poster has Digital Completion enabled but do not adhere to the conditions?

When a Load Poster allocates a load to a Carrier, or a Carrier is allocated a load, they enter into a contract. If the Digital Completion is active at this point, then the conditions of the Digital Completion will be added to the terms of the contract.

If either party reneges on the terms, they will be responsible for breach of contract and subject to disciplinary action on the Exchange, with consequences including the permanent revocation of their Exchange account.