Hokodo is to partner with online grain marketplace, Graindex to help protect agri-businesses from financial losses.

A Guaranteed Payment Collection service will cover purchases made through Graindex, as trades take place. If the buyer does not settle a guaranteed transaction on time, then the marketplace calls on Hokodo’s debt collection service to collect the debt. If that fails, then Graindex stands as guarantor, settling the debt on the buyer’s behalf.

The Guaranteed Payment Collection service will be available to all Premium farmers on the Graindex platform.

Managing director of Graindex, Dave Rose said: “Our biggest priorities are eliminating wasted costs, time and produce, as well as making sure everyone gets a fair deal.

“Farmers can now securely deal with a wider group of approved buyers without complicated forms, meaning they can focus on getting the best price for their crops,” he added. “Our experience working with the Hokodo team has been excellent; we can now offer our Guaranteed Payment Collection service through access to their innovative technology.”

Hokodo’s co-founder and co-CEO, Richard Thornton said that payment protection can help farmers avoid financial distress, reduce wasted stock, and take the pressure off routine transactions.

“By partnering with the forward-thinking and dynamic team at Hectare Agritech and Graindex, we’re proud to be helping farmers protect their cash flow,” he added.

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