Agricultural News
AgriClear Helping Cattle Buyers and Sellers Manage Risk
Wed, 11 Nov 2015 10:29:03 CST
It's a new way to buy and sell cattle. Producers have been selling cattle online for years, but the concept of AgriClear is all about a total service platform that includes some guarantees back to the buyer as well as to the seller. Dr. Nevil Speer is the head of U.S. Operations for the organization. Speer said the foundation of the company is to enable both buyers and sellers to leverage technology and have a broader marketplace. In dealing with customers online, he said there has to be some kind of financial or contractual backing.
"That's what we do," Speer said. "We provide payment assurance, so that we make sure the seller gets paid and also that the buyer has some deal certainty on the other end too in case the cattle, for example, arrive that aren't what they were supposed to be. So, really we are protecting both sides."
The capital at risk in the cattle business is unparalleled. Speer said there is too much risk in this business. AgriClear aims to eliminate those concerns of nonpayment. While it's nice to do business on a handshake, he said your banker doesn't appreciate that very much.
Since AgriClear was launched in June of 2015, Speer said they've had around 900 registrants from Canada and the United States. He said they continue to receive favorable feedback that producers like the concept and they continue to see a growing number of listings.
With this new way of doing business, education will be a key part of growing AgriClear. Speer said they will have to educate both buyers and sellers on this new concept. AgriClear is also in the process of developing short educational videos to help sellers with the marketing process.
Radio Oklahoma Network Farm Director Ron Hays interviewed Speer about AgriClear. Click or tap on the LISTENBAR below to listen to today's Beef Buzz.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network- but is also a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show- and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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