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Sagoserve members send their finished goods for sale through the society. On
receipt of goods, the member is paid 50% of the value of the goods as advance and
consignment is assigned a 'Lot Number'. Samples drawn from these consignments are
displayed for 'Tender Sale' conducted daily except on sundays and declared holidays.
After paying a tender deposit of Rs.1,50,000/- the buyers are registered with the society
and only then they can participate in the tenders. At present both industrial concerns as
well as private traders have registered themselves as buyers at the Sagoserve.
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After verification of samples of starch and sago in the tender hall the traders quote their rates in secret and the results are announced after tabulation around 2.30 P.M. The member-producer has the option of confirming the highest rate offered for his goods. Once he confirms the sale he is paid another additional advance calculated with reference to the sales rate after keeping Rs.30/- per bag for recoverable expenses at the time of final settlement. The goods of the members, till the confirmation of the sale and those of the buyers, till they take delivery, are stored in the Sagoserve godowns at a nominal godown rent. |
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