​On March 4th,Baturu announced a brand new “7-Day Zero-Fee Settlement” policy for platform suppliers, releasing significant benefits to traditional auto parts merchants. The “weekly settlement” policy breaks the industry’s unspoken rule of an average 1-3 month settlement cycle, shortening the settlement period by nearly 90%, making it the auto parts e-commerce trading platform with the shortest settlement cycle in the industry today. This policy will greatly improve the capital turnover efficiency of auto parts suppliers and lead a new trend of benign cooperation and healthy development in the auto parts industry.

It is reported that Baturu’s “7-Day Zero-Fee Settlement” policy will be fully implemented in March. This policy is open to all suppliers on the platform, which means as long as they are auto parts merchants cooperating with Baturu, they do not need to pay extra fees. After all orders are completed, Baturu will settle the payment with them on a “T+7” basis, and after the payment arrives in the supplier’s designated account, it can be freely withdrawn.

For auto parts merchants, the “payment term” has always been a hurdle they cannot cross. Payment terms bring certain conveniences to auto parts business, but also trigger a series of intertwined triangular debts and debt chains. Currently, traditional auto parts merchants, and even most auto parts e-commerce platforms, have an average settlement cycle for suppliers ranging from as short as 1 month to as long as 2-3 months, which has become an industry unspoken rule.

For auto parts merchants doing business worth millions or even tens of millions, payment terms of several months can severely hinder normal business operations once the capital chain has issues, and in the long run, it affects the healthy development of the entire industry and triggers a trust crisis.

A 7-day settlement cycle, considering the necessary time for reconciliation during this period, is essentially equivalent to cash settlement. It has the efficient capital flow of cash settlement while avoiding the inefficiency and hassle of cash settlement.

Baturu’s Vice President of Procurement and Sales, Zeng Haihua, said: “Launching the 7-day settlement policy can help platform merchants improve capital turnover efficiency and self ‘blood-making’ capabilities, allowing every merchant to do business easily on the Baturu platform without worries and earn more money. At the same time, we hope that by launching the ‘7-Day Zero-Fee Settlement’ policy, we can continue to lead the healthy development of the industry with the pioneering spirit of Baturu warriors, promote platform service standards to industry standards, achieve benign cooperation among all parties in the automotive aftermarket industry chain, and create a harmonious and healthy ecological environment.”

Compared to vulnerable parts, in the full vehicle parts trading process, the “service” experience is the biggest difference. Terminal customers may still have complaints and compensation issues after orders are completed. The “7-Day Zero-Fee Settlement” policy also means that Baturu will bear greater risks for merchants and greater responsibilities to terminal auto repair enterprises, fully demonstrating Baturu’s determination as a platform enterprise to achieve win-win cooperation with traditional auto parts merchants.

Since the second half of 2020, Baturu has been frequently optimizing and upgrading its supply chain, upgrading city partners to franchisee model, launching 24-month ultra-long warranty service, partnering with quality merchants to enrich platform parts quality, and now launching the zero-fee 7-day settlement policy that surpasses industry standards. In just a few months, multiple initiatives benefiting the upstream and downstream of the industry chain demonstrate Baturu’s efficient execution and implementation capabilities as an industrial internet platform in continuously polishing and deeply cultivating “good service”.

Since its establishment in 2013, Baturu has partnered with nearly a thousand quality auto parts suppliers nationwide, including first-tier international brands like ZF and Marelli, as well as regional powerhouse merchants in the domestic full vehicle parts field such as Xinju and Jude.

As an infrastructure platform, Baturu’s positioning is to provide high-quality infrastructure services for the automotive aftermarket, allowing all participants to truly share the market opportunities and huge benefits brought by the internetization of the aftermarket. And for suppliers, Baturu aims to create a healthy and fair playing field, providing merchants with one-stop transaction service support, including the fastest capital turnover method, access to the largest full vehicle parts trading platform in China, maximum traffic exposure, etc., so that merchants’ quality products and services can reach auto repair enterprises nationwide.