FAQs

1. What are the benefits of using PetroExchange?
2. How much does it cost?
3. How are transaction fees paid?
4. Who should use PetroExchange and what products does it support?
5. How do users qualify to trade on PetroExchange?
6. How will PetroExchange help my existing customer relationships?
7. How does anonymity help me make better deals?
8. What are the benefits of a global marketplace?
9. What about security for buyers and sellers on PetroExchange?
10. How can I be sure that the products I receive will match the description of the products I bought online?

1. What are the benefits of using PetroExchange? PetroExchange makes buying and selling petroleum products easier and faster than ever before; by utilizing our special feature called 'Use Profiles', the process of initiating a transaction is essentially automated. While enabling users to reach out to a global community of customers and suppliers, PetroExchange eliminates time and effort spent on missed faxes and phone calls. Communication is instant across countries and time zones. Faster transactions result in cost savings, reduced paperwork and errors, as well as tighter inventory controls. And the unique anonymity opportunity offered only by PetroExchange provides the benefit of negotiating incognito, which can greatly facilitate negotiations by eliminating any emotional taint from the dealing process. PetroExchange also opens up a new universe of buyers and suppliers. It allows users to efficiently access markets and customers that previously could not be serviced because of cost considerations or lack of awareness. Finally, PetroExchange brings the benefits of today's most advanced technology to all participants in the global petroleum industry. It frees petroleum professionals from the significant investments in time and capital required to create and maintain an advanced e-commerce platform. It offers faster, more efficient transactions with existing and new commercial partners. PetroExchange is a sure win-win for the entire industry. top
2. How much does it cost? PetroExchange uses a low-cost sliding-scale fee schedule based on transaction size. PetroExchange fees can be as low as $10 per trade for a truck load quantity of fuel. Larger users will be pleased with our substantially discounted fees when compared to broker trade rates. Our fee schedule can be viewed by members only on the transaction page following log in. New members can take advantage of our limited-time 90-day free trial offer, during which all transaction fees will be waived. top
3. How are transaction fees paid?Transaction fees are paid out of a User's Account which is 'funded' by means of a credit card which is registered with PetroExchange.com. The user choose by how much the account will be funded and the threshold at which funding occurs. top
4. Who should use PetroExchange and what products does it support? PetroExchange is available to the entire global petroleum industry ranging from major petroleum suppliers and refiners to end users of those products. PetroExchange will be a welcomed asset of any product department, petroleum buyer, broker or petroleum marketer. top
5. How do users qualify to trade on PetroExchange? To become a member of PetroExchange, potential buyers and sellers complete a simple registration process. Once registered, you will receive a password and log-in, and gain access to a customizable PetroExchange user page. After establishing your PetroExchange account, you'll be ready to buy, sell, request quotes, accept bids, select products and quantities and specify locations and delivery times. top
6. How will PetroExchange help my existing customer base relationships? On PetroExchange, many companies will choose to trade with familiar commercial partners, or exclusively with a single trusted company. PetroExchange's technology supports this choice by letting buyers and sellers maintain control over their product information and pricing at all times. At no time is information visible to parties who are not authorized to see it. So, members have the ability to service existing commercial relationships via PetroExchange, leveraging the efficiencies enabled through the system to provide faster, higher-quality customer service. top
7. How does anonymity help me make better deals? It makes all traders equal on the exchange; there is no preferential dealing. Note, however, that you can choose not to see bids or offers from a particular individual if you have had a bad experience previously. top
8. What is the benefit of the global marketplace? The benefit of a global marketplace is that it enables you to do business globally, regionally or locally with no added cost. International members use PetroExchange to trade within their local or regional geographies, as well as globally. top
9. What about security for buyers and sellers on PetroExchange? PetroExchange realizes that global electronic commerce will only flourish in an environment where sensitive information transmitted electronically is protected. PetroExchange employs proven security measures to protect participant information from misuse, loss, or alternation. top
10. How can I be sure that the products I receive will match the description of the products I bought online? PetroExchange does not change the claims process. Claims continue to be handled between companies. However, all trades are fully documented on the PetroExchange system, facilitating discovery in case of conflict. This insures that PetroExchange remains a venue for quality industry participants. top