Translation. In case of any discrepancy, the Spanish version prevails.
Synoos is a platform that connects growers, exporters, and importers of Chilean fruit. We provide the infrastructure to publish supply and demand, close contracts, hold funds in escrow, and track the progress of each shipment.
Synoos is not a party to the purchase and sale. The contract is between buyer and seller. Our role is to verify counterparties, make the contract available, and administer the release of funds according to the agreed milestones.
To operate, you must be a legally incorporated company verified by Synoos. We require the RUT (tax ID), notarized powers of attorney for the signatory, and SAG registration. Until you are verified, you can view quotes and Pulse as an Observer, but you cannot publish or transact.
Each person on your team signs in with their own corporate email. You are responsible for keeping access up to date and for revoking the access of anyone who leaves the company.
The annual membership to operate costs USD 600 per company and is charged once the company is verified. We notify you 30, 15, and 7 days before renewal. If you do not renew, you have a 15-day grace period to close transactions in progress; after that, your account becomes an Observer account.
For each successful transaction we charge 0.5% to the buyer (added to the deposit) and 0.5% to the seller (deducted from each released milestone). There are no other charges for transfers or for withdrawing funds.
What you publish must be real and available: volume, caliber, harvest week, price, Incoterm, and certifications. Lot photos must be of the lot itself and unedited.
Lots are published and purchased whole, by pallets, at a fixed price: the first party to confirm takes it. The seller sets the Incoterm, FOB or CIF, and the port when publishing; the buyer cannot change them. By publishing a demand, you commit to buy from the first party that matches it, and you may only decline a response that does not meet the specifications, subject to review by Synoos.
It is a default to fail to sign or deposit on time, to withdraw after reserving, or to decline a response to a demand without a valid reason. Two defaults within 90 days suspend the company for 30 days: it completes what it has in progress and withdraws its balance, but it may not publish or buy. With three, Synoos reviews whether it may continue on the platform. A review of each default may be requested once, within 3 business days.
Reserving a lot generates a purchase agreement with the lot's conditions, including the shrinkage tolerance. Both parties have 24 hours to sign it.
Signing is carried out by advanced electronic signature pursuant to Law 19.799. Signing binds you on the same terms as a handwritten signature.
Once the contract is signed, the buyer has 24 hours to deposit the contract value plus the buyer's 0.5%, by bank transfer or using the balance of its Synoos wallet. If the buyer does not deposit, the contract is voided without any commission being charged, the lot returns to the market, and a default is recorded.
Funds are held in a segregated account at a Chilean financial institution, in the name of each transaction and not of Synoos. Synoos cannot dispose of them: it can only release them as the contract provides.
Escrow is released in three fixed milestones: 30% at shipment with the BL issued, 50% upon conforming receipt, and 20% at closing, 7 days after arrival. If the buyer does not report within 48 hours of arrival, receipt is deemed conforming. Each milestone is credited to the seller's Synoos wallet, net of the seller's 0.5%; from there, the seller withdraws to a verified account of its company, and Synoos bears the bank cost of the withdrawal.
If there is a claim or dispute, any amount not yet released remains frozen. The counterparty has 72 hours to respond, and Synoos issues its decision within 5 business days, supported by the surveyor's report. Each party may appeal only once, at no cost, within 3 business days; the appeal is decided by a different person at Synoos within 5 business days and is final. Refunds are made to the account from which the deposit originated.
Pulse is a reference model built on the aggregated judgment of industry experts and on actual results of closed transactions. It shows probabilities and ranges, not certainties.
Pulse is not financial, investment, or commercial advice. Decisions on buying, selling, pricing, and destination are yours and your company's. Synoos does not guarantee results and is not liable for decisions made on the basis of the model.
You may not impersonate another company, upload false or altered documentation, manipulate reference prices by coordinating with third parties, attempt to access other parties' accounts, or extract market data by automated means without written authorization.
Synoos is responsible for the proper functioning of the platform and for administering escrow as agreed. We are not liable for the quality, condition, caliber, or conformity of the fruit, for delays caused by packing facilities, ports, or shipping lines, or for the parties' commercial decisions.
We may suspend or close an account that breaches these terms or accumulates defaults under section 4, with prior notice except where there is a risk to other counterparties or to funds in custody.
You may close your account whenever you wish. Open transactions and funds in escrow must be settled first: an account with third-party money committed cannot be closed.
These terms are governed by the laws of the Republic of Chile, and any dispute shall be submitted to its competent courts.