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How to Finalize a Peer-to-Peer Trade

Overview​

Finalizing a peer-to-peer (P2P) trade on the WhiteLabel Community Deals Platform is the crucial last step in the secondary market transaction process. This guide will walk you through the steps required to complete a trade after a buy or sell order has been matched, including verification steps, document signing, payment confirmation, and transaction settlement. Understanding how to properly finalize trades ensures smooth and secure token transfers between investors.

Prerequisites​

Before finalizing a P2P trade, you should:

  • Have a registered and verified account on the platform
  • Have an active buy or sell order that has been matched with a counterparty
  • Have completed KYC verification
  • Understand the platform's secondary market rules and procedures
  • Have sufficient funds (if you're the buyer) or tokens (if you're the seller)
  • Be familiar with any applicable transfer restrictions

Step-by-Step Instructions​

Step 1: Access Your Pending Trades​

  1. Log in to your account on the platform
  2. Navigate to the "Secondary Market" or "P2P Trading" section in the main navigation menu
  3. Look for a tab or section labeled "Pending Trades," "Open Orders," or "Trade Finalization"
  4. Click on this section to view all trades that require finalization

Step 2: Review Trade Details​

  1. Locate the specific trade you need to finalize and click on it

  2. Review all trade details carefully:

    • Token name and symbol
    • Quantity being traded
    • Price per token
    • Total transaction value
    • Counterparty information (may be anonymized)
    • Any applicable fees
    • Expected settlement timeline

  3. Ensure all details match your expectations before proceeding

Step 3: Understand Your Role in the Trade​

  1. Your required actions will depend on whether you are the buyer or seller:

    • As a Buyer: You'll need to confirm payment and possibly sign documents
    • As a Seller: You'll need to verify buyer eligibility and confirm token transfer

  2. The platform will guide you through the specific steps required for your role

Step 4: Complete Required Identity Verification (If Needed)​

  1. Some trades may require additional identity verification:

    • This is typically more common for higher-value transactions
    • You may need to reconfirm your identity even if you've completed KYC
    • This helps ensure regulatory compliance and security

  2. Follow the prompts to complete any required verification steps

Step 5: Sign Transfer Agreements (For Both Parties)​

  1. Most P2P trades require signing a transfer agreement:

    • This document outlines the terms of the token transfer
    • It includes representations and warranties from both parties
    • It may reference transfer restrictions and compliance requirements
    • Both buyer and seller typically need to sign

  2. Use the platform's e-signature system to sign the agreement

Step 6: Complete Investor Qualification (For Buyers)​

  1. If you're the buyer, you may need to certify your investor qualification:

    • Confirm you meet accreditation requirements (if applicable)
    • Certify you understand the risks involved
    • Acknowledge any transfer restrictions
    • Confirm compliance with jurisdictional requirements

  2. Complete all required certifications to proceed

Step 7: Confirm Payment Method (For Buyers)​

  1. As a buyer, select or confirm your payment method:

    • Platform wallet balance
    • Connected external wallet
    • Bank transfer
    • Other available payment options

  2. The platform will guide you through the specific payment process

Step 8: Execute Payment (For Buyers)​

  1. Complete the payment process:

    • If using platform balance, confirm the deduction
    • If using an external wallet, approve the transaction
    • If using bank transfer, follow the provided instructions
    • Save any payment confirmation or transaction ID

  2. The platform will record that payment has been initiated

Step 9: Confirm Payment Receipt (For Platform/Escrow)​

  1. The platform or escrow service will:

    • Verify that payment has been received
    • Hold the funds until the trade is fully completed
    • Update the trade status to reflect payment confirmation
    • Notify the seller that payment has been secured

  2. This step may take time depending on the payment method

Step 10: Authorize Token Transfer (For Sellers)​

  1. As a seller, once payment is confirmed:

    • Review the payment confirmation
    • Authorize the transfer of tokens to the buyer
    • This may require signing a transaction in your connected wallet
    • Or simply confirming the transfer through the platform interface

  2. This step releases your tokens for transfer

Step 11: Wait for Transfer Agent Approval (If Required)​

  1. If the platform uses transfer agents:

    • The trade will be reviewed by a transfer agent
    • They verify compliance with regulations and transfer restrictions
    • This process typically takes 1-3 business days
    • Both parties will be notified when the review is complete

  2. The transfer agent ensures the trade complies with all requirements

Step 12: Respond to Additional Information Requests​

  1. During the review process, either party may be asked to provide:

    • Additional identity verification
    • Investor qualification proof
    • Source of funds documentation
    • Clarification on certain aspects of the trade

  2. Respond promptly to these requests to avoid delays

Step 13: Monitor Trade Settlement Status​

  1. Track the status of your trade settlement:

    • Navigate to your trade details page
    • Check the current status (Processing, Under Review, Settling, Complete)
    • Look for any status updates or notifications
    • The platform will update the status as the settlement progresses

  2. Settlement times vary based on the token type and platform policies

Step 14: Verify Token Receipt (For Buyers)​

  1. As a buyer, once the trade is settled:

    • Check your portfolio to confirm the tokens have been received
    • Verify the quantity matches the trade agreement
    • Ensure the tokens appear in the correct investment section
    • Note any applicable transfer restrictions or vesting schedules

  2. The tokens should now be visible in your portfolio

Step 15: Confirm Sale Proceeds (For Sellers)​

  1. As a seller, once the trade is settled:

    • Verify the sale proceeds have been credited to your account
    • Check that the amount matches the expected value (minus fees)
    • Confirm the funds are available for withdrawal or reinvestment
    • Review the transaction record for your records

  2. The proceeds should now be available in your account

Step 16: Review Transaction Receipt​

  1. After the trade is fully completed:

    • The platform will generate a transaction receipt
    • This document summarizes all aspects of the trade
    • It serves as proof of the completed transaction
    • Save this receipt for your records

  2. This receipt is important for tax and record-keeping purposes

Step 17: Withdraw Funds (For Sellers, If Desired)​

  1. As a seller, if you wish to withdraw your proceeds:

    • Navigate to your wallet or funds section
    • Select "Withdraw" or "Transfer Out"
    • Choose your preferred withdrawal method
    • Enter the amount and destination
    • Complete any security verification steps

  2. Follow the platform's process to withdraw your funds

Step 18: Leave Feedback (If Available)​

  1. Some platforms allow trading parties to leave feedback:

    • Rate your trading experience
    • Provide comments about the transaction
    • This helps build reputation in the secondary market
    • Be honest but professional in your feedback

  2. This feedback may be visible to future potential trading partners

Step 19: Report Any Issues​

  1. If you encounter any issues during the trade finalization:

    • Use the platform's reporting tools to flag problems
    • Provide specific details about the issue
    • Include any relevant transaction IDs or screenshots
    • Follow the platform's dispute resolution process if necessary

  2. Prompt reporting helps resolve issues quickly

Step 20: Update Your Records​

  1. For your own record-keeping:

    • Save all transaction documentation
    • Update your investment tracking spreadsheet or software
    • Note the transaction for tax purposes
    • Record any relevant details about the trade

  2. Good record-keeping is essential for managing your investments

Best Practices​

  • Verify All Details: Double-check all trade information before finalizing
  • Act Promptly: Complete your required actions quickly to avoid delays
  • Secure Communication: Only communicate with your counterparty through the platform's official channels
  • Keep Records: Save all transaction receipts and confirmations
  • Understand Fees: Be aware of all fees before completing the transaction
  • Follow Instructions: Carefully follow all platform prompts and instructions
  • Be Patient: Some steps, especially transfer agent review, may take time
  • Verify Completion: Always confirm that tokens or funds have been received
  • Understand Restrictions: Be aware of any transfer restrictions that apply to the tokens
  • Report Problems: Promptly report any issues or discrepancies to platform support

Troubleshooting​

Common Issues​

  1. Trade Stuck in Pending Status

    • Solution: Check if you have completed all required actions on your end
    • Solution: Verify if you're waiting for counterparty actions
    • Solution: Check if transfer agent review is in progress
    • Solution: Contact support if the status hasn't changed for an unusual amount of time

  2. Payment Confirmation Delays

    • Solution: Verify your payment was properly executed
    • Solution: Check if your payment method typically has processing delays
    • Solution: Provide payment confirmation documentation if requested
    • Solution: Contact support if delays exceed the expected timeframe

  3. Token Transfer Failures

    • Solution: Ensure you have sufficient tokens to transfer (as a seller)
    • Solution: Check if tokens are locked or subject to transfer restrictions
    • Solution: Verify your wallet is properly connected
    • Solution: Contact support with specific error messages

  4. Transfer Agent Rejection

    • Solution: Carefully read the rejection reason provided
    • Solution: Address any compliance issues identified
    • Solution: Provide any additional requested documentation
    • Solution: Consider modifying the trade terms if necessary

  5. Funds or Tokens Not Received After Completion

    • Solution: Verify the transaction status shows as fully completed
    • Solution: Check the correct wallet or account for the assets
    • Solution: Allow sufficient time for blockchain confirmations
    • Solution: Contact support with transaction details if assets don't appear

Getting Help​

If you encounter any issues while finalizing a P2P trade:

  1. Navigate to the /support Support center by clicking on the "Support" link in the main navigation
  2. Select the "Secondary Market" or "P2P Trading" category
  3. Provide specific details about your issue, including:
    • Trade ID or reference number
    • Current status of the trade
    • Specific step where you're experiencing problems
    • Screenshots of any error messages
  4. Submit your support request
  5. Support staff will respond through the platform's notification system