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Will there be insurance to the trade? What if something goes wrong to the trade? Non deliveries, etc.

Will ModulTrade do security checks to the traders for its legitimacy to do its business? And also to the end users part.

I looked for some answers on the website of Modultrade, if you look at the following simple explanation of smart contract trading, you would think the trade cant go wrong.

STAGE I
Buyer and Seller set a Smart-contract
Buyer deposits funds with the Smart-contract
STAGE II
Seller ships goods once sees the funds locked by the smart-contract
Smart-contract is tracking goods delivery
STAGE III
Upon the goods are delivered Smart-contract releases funds to the Buyer

But yeah, what if during transport the product is damaged, then there must be some kind of insurance involved

I'm sure that as normal trading, insurance will be used for delivery. But who will pay for Insurance fee? Can enterprise use Modul tokens to pay for insurance?

The seller usually handles the transportation insurance. not sure if MT needs to get involved there.

Hello, boys and girls.
As a practice, transportation charges and insurance are born by the seller who arranges the delivery.
Hence insurance fee is payable by the seller.
ModulTrade ecosystem encompasses trade-related services and will provide multiple options for insurance, inspection, delivery and etc. Therefore, should the buyer have any discomfort in terms of insurance, he may always request to consider his/her choice. And that has to be decided between the parties. And of course, Insurance charges can use MT tokens to pay for the insurance.

Stay tuned for more news and have a great day ahead!

Thank for your help, man! It is so convenient when MT system has many options to choose. Hope that this project will ICO successful. Cheesy

EgoPaintedGrey

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