Negotiated Contract Tool (NCT) Integrates with the Referral System Automatically in a Metamarket
1. http://www.openentry.com/cofta promotes 1400 items from 25 individual catalogs of vendors from all over Africa
2. A prospective buyer searches for "bowl" and gets 3 pages with 45 bowls
3. He/She selects the African Map Bowl from Smolart and places a query for 2000 in the shopping cart
4. At the Negotiated Contract Tool screen, the buyer studies the initial terms and requests a 20% discount
The vendor could make a counteroffer of, say, 10% with air shipment. Then vendor and buyer negotiate back and forth in real time or over days or weeks. When they are both satisfied with the terms and prices they each click the "Submit contract" button and then both receive an e-mail PDF copy of the final contract. The referrer (in this case cofta) receives a third copy of the contract with which to collect the predetermined commission from the vendor.
