On PayDocker, it is essential to understand the roles in a transaction. We have 3 roles:
- Buyer
- Supplier
- Property
What you can do here
- How to access
- Configure your smart contract details
- Accepting your smart contract proposals
- Negotiate your smart contracts
How to access
For Property accounts
1. Access this page by clicking Setup (1), then Property (2) in the left panel.
2. Select either Bookings or Services - this will follow the type of payments you will be carrying out between you and your partner
(For example, if you are a travel agency procuring hotel rooms from a hotel, you should select Bookings)
3. Search for the property that you would like to connect with. You can also use the Filter to help you narrow down your search results.
4. Click on the account (1) and then click on To Start (2).
For Buyer accounts
1. Access this page by clicking Setup (1), then Demand (2) in the left panel.
2. Select either Bookings or Services - this will follow the type of payments you will be carrying out between you and your partner
(For example, if you are a travel agency procuring third-party suppliers, you should select Bookings)
3. Search for the property that you would like to connect with. You can also use the Filter to help you narrow down your search results.
4. Click on the account (1) and then click on To Start (2)
Configure your smart contract details
(For the following steps, we will use setup for Property as an example)
1. Select Edit (1), and input the Internal ID (2) utilized by your company for that specific buyer.
You can optionally assign a name (3) to the smart contract with that buyer.
2. Under Branch (1), select the branch (2) that will be transacting with the buyer and click Next Step (3).
3. Under Model (1), select the relevant payment model (2) applicable to this partnership with the property and proceed by clicking Next Step (3).
4. Under Terms (1), choose 1 payment term and 1 dispute term (2) that are applicable for transactions with this buyer, then proceed by clicking Next Step (3).
5. Under Taxes (1), choose the tax model relevant to this buyer, then click Next Step (2). If there are no applicable taxes, simply proceed by clicking Next Step (2).
Taxes is optional, you may choose to skip if this does not apply to you.
6. Now that the smart contract has been drafted, click Submit (3) to send the proposal to the buyer. They'll receive it promptly in their account.
Accepting Smart Contract
Your partner who received the new terms will receive an email notification once you've sent it to them.
And they will see the status change to New Terms (1). They can also view the terms via Manage (2)
1. To accept the terms proposal, click Manage
2. At the pop-up, click Accept Proposal to finalize the agreement.
Once the smart contract has been accepted, your partner will also receive a confirmation email.
Negotiate your smart contract terms
You can choose to negotiate the terms if you disagree with the proposed terms by sending messages in the message box before accepting the proposal, as many times as you wish to.
1. Click Request Update.
2. Within the Smart Contract entry, select Connection (1), and you will be directed to the message box where you can review the message they sent.
If you agree with the modifications, you will need to revisit the models and terms to re-select the adjustments. If you do not have the required terms, you will need to return to the Terms page to create a new one.
4. Once done, return to the Smart Contract entry and choose the relevant section (1) and make the necessary adjustments (2). Click Next Step (3) and follow the steps until the Connection section (4).
E.g, we chose Terms (1), checked the box for the new payment term (2), and clicked Next Step (3) till we reached Connection Section (4).
5. When the Sender is ready to send the updated proposal, they can send a reply (1) and/or directly click Submit (2) to confirm the edited proposal.
6. The entry status will then change back to 'Waiting Approval'.
7. Once the you recipient accepts the sender's Smart Contract Proposal, the status displayed on the Smart Contract entry will change to Accepted.