Skip to main content

I want to connect with new businesses

Help PayDocker
Updated

We are glad you have made the decision to expand your business using PayDocker to unlock growth. A key part of connecting with new business is Smart Contracts.

Our Smart Contract feature on PayDocker, essentially a digital contract, facilitates the establishment of a binding partnership between users. It governs the way you transact on PayDocker with another user. It is crucial that you understand how smart contract works and how to connect with new businesses via PayDocker. 

Here is an overview of how you can kickstart this journey:

For Properties, please head to Step 2 directly.

 

Before we move forward, it is crucial to understand the different types of relationships you might have with your partners. 

1. Buyer > Supplier

This is the straightforward relationship between 2 parties - one buys the goods/services, one supplies the goods/services

  • Between a demand partner and a property partner: The demand partner would assume the buyer role and the property partner will assume the supplier role
  • Between 2 demand partners: Either one of them can assume the buyer or supplier role

2. Buyer > Supplier > Source

This relationship would usually represent the relationship between a buyer, supplier and the hotel in a wholesaler context. The hotel would sell a bundle of rooms to a wholesaler, which would then sell the rooms to individual buyers. 

  • Hotel would be the source role
  • Wholesaler would be the supplier role
  • Buyer would be the buyer role

Step 1: Create your Smart Contracts terms, models and taxes

Smart Contracts on PayDocker are essentially digital contracts. It facilitates the establishment of a binding partnership between users and governs the way you transact on PayDocker with another user. Once a smart contract has been created between a buyer and supplier, it is self-executable (Takes effect immediately). This makes your transactions safe, efficient and irreversible. 

Here are the components of Smart Contracts that you would have to set up:

  1. Model: Create and manage your Smart Contract models
  2. Terms: Create and manage your Smart Contract terms
  3. Taxes: Create and manage your Smart Contract taxes

Optional step - Branches: Create and manage your business branches

 

Step 2: Connect with new businesses

To connect with the different users on our platform, we have functions to make connecting with other users simple and fuss-free. Refer to our technical guides available: Connecting with Buyers, Suppliers and Properties

 

You can also invite your partners to join us as well: 

📖 Not sure what buyers and suppliers mean? We have an article for you: How PayDocker works

 

Step 3: Send out/accept your Smart Contract proposal

Your final step is to send out or accept your smart contract proposals.

Refer to this article to find out more: Sending out or accepting your smart contracts (Demand, supply, property)

Related to

Related articles