How To Guides

Acceptor
    an End User which accepts an Offer
Bid
    a counter-offer by a Bidder which proposes amendments to an Offer
Bid Acceptance
    acceptance by an Offeror of a Bid
Bidder
    an End User which makes a Bid
End User
    a person or entity which accesses or uses the Milk Exchange
Offer
    an offer by an Offeror for the supply or receipt of Dairy Products
Offer Acceptance
    acceptance by an Acceptor of all the terms and conditions of an Offer
Offer Acceptance Confirmation
    confirmation by an Offeror of an Offer Acceptance
Offer Acceptance Confirmation Period
    the period of time during which an Offeror may consider whether to accept or reject an Offer Acceptance
Offer Acceptance Rejection
    rejection by an Offeror of an Offer Acceptance
Offeror
    an End User which makes an Offer

Buying or selling dairy products on the Milk Exchange is as simple as the click of a button to create or accept an offer to buy or sell milk and dairy products. The Milk Exchange provides for the sale or purchase of more than 30 dairy products.
To start trading, click on the START TRADING button on the home page or go to the MARKETS tab on the navigation bar or click here.

You will need to register to be able to buy or sell milk or dairy products on the Milk Exchange. Click on the LOGIN button on the navigation bar in the top right of the screen. This will take you to the REGISTRATION page or click here.
If you are following a link, this may take you straight to the REGISTRATION page. If you are already registered, you will be prompted at this point and you will be able to create or accept an Offer to buy or sell on the Milk Exchange.

When you register you will be prompted to read and agree to the Terms & Conditions. You can find a copy of the Terms & Conditions of the Milk Exchange here.

Once registered, you can create or accept an Offer to buy or sell milk or a dairy product on the Milk Exchange.
On the MY OFFERS page, click on the CREATE button, complete the details, select OFFER TO BUY or OFFER TO SELL, then click on the SUBMIT button. Once you have created an Offer you will receive an email with the details of your Offer. Click here to go to MY OFFERS.
There are no fees to create an Offer to buy or sell on the Milk Exchange. Fees are payable by the Buyer on completion of a contract. A list of the fees can be found in the Payment Policy here.

You can accept an Offer to buy or sell on the Milk Exchange by clicking on the MARKET tab on the navigation bar or on any of the MARKETS boxes on the home page, then click on the OFFER tab and this will take you to the BIDs section where you can view all the bids. To accept an offer with no amendments, click on the ACCEPT button.
Over the next 4 hours, the Offeror may choose to take any of the following actions in relation to your acceptance of the Offer:
- Confirm the acceptance;
- Reject the acceptance;
- Withdraw the Offer, in which case the Offer would be de-listed from the Milk Exchange;
- Withdraw the Offer and lodge another Offer;
- Do nothing and after 4 hours the Offeror will be considered to have rejected your acceptance.

To make a counter-offer or Bid amending any of the terms of an Offer, click on the NEW BID button, enter the terms of your Bid and click on the SUBMIT button. You will receive an email with the details of your Bid.

To re-Bid or make a new counter-offer, click on the OFFER tab and this will take you to the BIDs section where you can view all the bids. Click on the NEW BID button, enter the terms of your new Bid and click on the SUBMIT button. You will receive an email with the details of your new Bid.

To accept a Bid, in MY OFFERs tab, you can accept the Bid by clicking on the ACCEPT button. You will receive a confirmation email.

Once accepted, a Bid cannot be changed, so please ensure you are comfortable with the details of your Bid. If you have made a mistake, you may any time prior to acceptance withdraw the Bid and lodge an amended Bid.

Normally an Offeror would specify a date or time period that the offer remains open.
An Offeror can change the time-period in the Create Listing tab on the MY OFFERs page. This will be a new OFFER even if the details other than the time period do not change. Fill in the time period details then select the SUBMIT button. You will receive an email with your Offer details.

In the top right-hand corner of the Home page, there is a SEARCH feature (click on the magnifying glass icon) which allows you to search for any term, product or service you are seeking. Click here to go to the SEARCH feature.

The terms of a sale are governed by a standard form contract which appears here. If an Offeror confirms an acceptance of an Offer or accepts a Bid a contract will be immediately concluded between the Offeror and the Acceptor or Bidder, as the case may be and a copy of the contract will be forwarded to both parties by the Milk Exchange.

Payment for the dairy product is made by the Buyer directly to the Seller’s account specified in the contract. The payment does not go via the Milk Exchange.
On conclusion of a contract, the Seller will issue an invoice to the Buyer directly which will include the seller’s company name, company address, ABN, bank account details, contact name and contact email.
The Payment Policy specifies how payments will be made. See the payment policy here.

Payment for the dairy product is made by the Buyer directly to the Seller’s account specified in the contract. The payment does not go via the Milk Exchange.
On conclusion of a contract, the Seller will issue an invoice to the Buyer directly which will include the seller’s company name, company address, ABN, bank account details, contact name and contact email.
For farm milk, dairy farmers will be paid into their nominated bank account on the 15th of the month. Each month the Buyer will create a recipient created tax invoice based on the monthly milk volume, milk components and quality. This payment is the same as typical traditional payments.
The Payment Policy specifies how payments will be made. See the payment policy here.

Buyers or Sellers requiring services to assist with the physical delivery of dairy products and related services can nominate relevant services when creating their Dairy Trade offer or at the conclusion of the Dairy Trade.
Where a Buyer wishes to access Milk Exchange ‘dairy services’ the Milk Exchange can arrange for these services to be provided to the Buyer or the Seller in a manner that optimises the outcome. This will allow the Buyer or Seller to create their own optimised supply chain and have greater control over the components that make up the dairy product supply chain.

Buyers and Sellers can choose to initially remain anonymous. Prior to accepting an Offer, confirming an Acceptance or accepting a Bid, a Buyer or a Seller may request details of the other party.
If a party wishes to make contact directly with another party, this can be done by contacting the Milk Exchange team.

Prior to completing a transaction on the Milk Exchange a Buyer or a Seller may request details of the other party. You may make a determination as to the validity of the other party prior to completing a transaction.
Each transaction on the Milk Exchange is governed by a standard form contract which requires the Buyer and Seller to comply with the terms of the contract.

It is preferable to provide an Offer to buy or sell that is ready for acceptance. When submitting your Offer, you should include all the matters that are important to your Offer. For example, if the credit quality of the party accepting your Offer is important you should indicate that in your Offer.

If you are looking to accept an Offer, the party making the Offer can respond more quickly if you have provided all the information relevant to the Offer. For example, if the Offer requires a demonstration of credit quality and you do not provide this, the party making the Offer may not be able to agree to your acceptance or not be able to complete their due diligence in the time the Offer is under consideration.

Buyers or Sellers seeking to expedite the offer and acceptance process can register preapproved counterparties with the Milk Exchange. Where preapproved counterparties are registered with the Milk Exchange as approved parties with which to trade, Milk Exchange can advise the parties that a trade has taken place as they were preapproved.

To make a counter-offer or Bid amending any of the terms of an Offer, click on the NEW BID button, enter the terms of your Bid and click on the SUBMIT button. You will receive an email with the details of your Bid.
You can lodge a Bid while an Offeror is considering an Acceptance.