B2B glossary: the terms used when companies buy and sell

Agreement

An agreement is the commercial understanding between buyer and supplier once both have accepted the same terms. On Markonex, an agreement is created in two phases: one party accepts the offer and the other confirms the agreement. It carries everything settled in the negotiation: price, quantity, product, delivery date and location, payment terms, plus the messages and documents exchanged.

After confirmation, each party chooses whether the agreement is closed with or without a contract. The agreed terms can be edited by either party until the agreement is completed or rejected, and either party can reject it before completion.

ANAF verification

ANAF verification means confirming, based on the CUI, that a company exists and is active in the records of ANAF, the Romanian tax authority. Public taxpayer data, such as the name, registered office, trade register number, status and VAT registration, can be looked up on the ANAF website.

On Markonex, the platform queries ANAF by CUI at registration: if the company is active, the profile gets the "ANAF verified" status and the legal name, CAEN code, trade register number, VAT status, e-Factura and registered office are filled in automatically. If the CUI does not exist or the company is inactive or struck off, registration with that CUI is blocked. Company status is rechecked twice a month, and companies that are not ANAF-verified are clearly marked in results.

Automatic matching

Automatic matching is how Markonex connects requests for quotation with suitable suppliers, without the buyer searching company by company. The platform searches by the words in the request and by their meaning, so it finds relevant suppliers even when they describe the product in other words, in Romanian or in English.

Each result has a match percentage. What counts most is how well the request fits what the supplier sells; company verification, ANAF verification, rating, distance, category and negotiation history add smaller boosts. Suppliers can save follow filters and get notified when an RFQ above their chosen match threshold is published.

CAEN code

The CAEN code is the Romanian classification of economic activities. Every company has a main activity with a four-digit code, for example for manufacturing, wholesale trade or construction, and may also have secondary activities.

On Markonex, the main CAEN code is taken from ANAF when the CUI is verified and shown on the company profile, next to the trade register number. It helps you see whether a supplier makes or resells what it offers.

Contract

A contract is the written document that sets out the parties' obligations: what is delivered, at what price, by when, with what payment, warranties and penalties. Between companies, a contract can cover a single delivery or be a framework contract for repeated deliveries.

On Markonex, a contract is generated as a PDF from the company's template or uploaded as an existing document. Both parties accept the contract and approve each version of the document, and the contract has a term and an expiry date. An agreement closed with a contract is completed once the contract is accepted by both parties. Markonex is not a party to contracts between companies.

CUI (Romanian company registration code)

The CUI (cod unic de înregistrare) is the unique registration code of a Romanian company, assigned when it is entered in the trade register; for other entities it is called the tax identification code (CIF). It is the number that identifies a company with ANAF, on invoices and in contracts.

Do not confuse the CUI with the trade register number, which for companies starts with the letter J, or with the VAT code, which is the CUI with the RO prefix. On Markonex, the CUI is the basis of ANAF verification and of the financial statements on the profile, and in company search you can find a company directly by its CUI, with or without the RO prefix.

Delivery term

The delivery term is the date or period by which the supplier must deliver the goods or perform the service, at the agreed place. Large orders can be split into staged deliveries with separate dates.

On Markonex, the delivery date and location are part of the agreement terms. When you request quotes, write the delivery time you need in the RFQ so offers are comparable; the RFQ location also counts when matching suppliers nearby.

Direct price request

A direct price request is sent to a single company and is not published on the marketplace. You use it when you already know whom you want a price from, for example a supplier you have worked with before.

On Markonex, you send it from the company's profile with the "Request price" button. The supplier answers with a price offer or declines, and the negotiation continues in rounds, just like for a published RFQ. Separately, from a product page in a company's catalogue you can make an offer for that product directly.

Distributor

A distributor buys products from one or more manufacturers and sells them on to other companies, usually for a given region or for certain brands. Besides the product, it brings local stock, logistics, technical advice and sometimes service.

Compared with a manufacturer, the price includes the distributor's margin, but minimum quantities are usually lower and delivery from stock is faster. On Markonex, distributors receive matching RFQs just like manufacturers; the full comparison is in the guide "Manufacturer or distributor".

e-Factura

RO e-Factura is Romania's national e-invoicing system, run by ANAF. Invoices are sent in a structured electronic format through ANAF's Virtual Private Space or its automated interface, and for supplies between companies established in Romania sending invoices through the system is mandatory, under the conditions set by law.

ANAF publishes, in its taxpayer information, whether a company is listed in the RO e-Factura Register. On Markonex, this information is taken when the CUI is verified and shown on the profile as the "e-Factura" badge. Markonex does not issue invoices and does not send invoices to the e-Factura system.

Financial statements (bilanț)

In Romania, the annual financial statements (commonly called the bilanț) are filed every year with the Ministry of Finance. They show, among other things, revenue, expenses, profit or loss, debts, equity and the average number of employees. The main indicators are public information.

On Markonex, the profile of each company verified by CUI shows the indicators from its public financial statements, taken from ANAF, for the last three years: total revenue and expenses, profit or loss, average number of employees, share capital, debts, equity, receivables and cash. They are fetched automatically within minutes of registration and refreshed periodically.

Importer

An importer brings goods from abroad and sells them on the Romanian market, usually to other companies. For goods from outside the European Union it handles customs formalities and import duties; between EU member states there are no customs, but the tax rules for intra-community acquisitions apply.

When buying from an importer, ask about the origin of the product, certificates of conformity and the stock available in the country. On Markonex, importers appear as suppliers and receive published RFQs and direct price requests.

Incoterms

Incoterms are standard rules published by the International Chamber of Commerce (ICC) that define, with a three-letter abbreviation, who pays for transport, insurance and customs formalities, and at what point risk passes from seller to buyer. The rules are issued in successive editions, for example Incoterms 2020, so a contract states the rule, the place and the edition, for example "FCA Cluj-Napoca, Incoterms 2020".

On Markonex, the agreement records the delivery date and location, and the agreed Incoterms rule is stated in the negotiation messages or in the contract. The rules you meet most often:

• EXW (Ex Works): the seller makes the goods available at its premises or warehouse; from there the buyer bears all costs and risks.
• FCA (Free Carrier): the seller hands the goods, cleared for export, to the carrier chosen by the buyer at the agreed place.
• DAP (Delivered at Place): the seller delivers to the agreed destination, ready for unloading; import formalities and duties remain with the buyer.
• DDP (Delivered Duty Paid): the seller bears all costs and risks up to the destination, including import duties.
• FOB (Free On Board) and CIF (Cost, Insurance and Freight): rules only for sea and inland waterway transport; under FOB risk passes once the goods are on board at the port of shipment, and under CIF the seller also pays freight and insurance to the destination port, although risk still passes at loading.

Manufacturer

A manufacturer makes the product it sells. Buying directly usually gives you the factory price, exact technical specifications and the option to order custom variants, but also higher minimum quantities and production lead times.

On Markonex, manufacturers list their products in the catalogue, including by Excel import, receive matching RFQs and negotiate directly with the buyer, without intermediaries.

MOQ (minimum order quantity)

MOQ is the smallest quantity a supplier accepts in one order, for example 100 pieces, a pallet or a tonne. Manufacturers set a minimum so that an order covers production, packaging and transport costs; sometimes the unit price drops in steps above that threshold.

On Markonex, catalogue products have a price range and a currency, and the actual quantity is settled in the offer and the negotiation. If you sell with a minimum quantity, mention it in the product description; if you buy, write the quantity in the RFQ so offers are comparable.

Negotiation

Negotiation is the stage where buyer and supplier reach the final terms: price, quantity, delivery date and place, payment terms.

On Markonex, negotiation happens in rounds: each party answers with a counter-offer, up to 20 rounds, with messages and documents attached in the same conversation. The party whose turn it is gets reminders, and an offer that is not completed expires after 30 days. When both parties accept the same offer, the agreement is created.

Offer

An offer is the supplier's answer to a request for quotation: the price, quantity and conditions under which it can deliver. Between companies, the offer is the starting point of the negotiation and is compared with other suppliers' offers for the same request.

On Markonex, the supplier sends the offer directly on the RFQ, and all offers received appear on the "Offers" page. A buyer can also make an offer for a product in a supplier's catalogue. Between two companies there is a single active negotiation on the same RFQ.

Payment term

The payment term is the period within which the buyer must pay, usually counted from the invoice or delivery date, for example payment within 30 days. Advance payment, a partial advance or payment on delivery can also be agreed. Between professionals, Romanian law regulates payment terms and late-payment interest, so the term should be written clearly in the agreement or contract.

On Markonex, the payment term is part of the agreement terms and can be edited by either party until the agreement is completed. The platform does not process payments: payment is made directly between the companies, as agreed.

Request for quotation (RFQ)

A request for quotation (RFQ) is the notice in which a company describes what it wants to buy, so that suppliers send offers. A good RFQ states the product or service, quantity, specifications, delivery place and delivery time.

On Markonex, an RFQ has a title, description, category, location and a validity period, 30 days by default. It can be typed, dictated or extracted from a scanned document. Once published it is active immediately, the platform finds matching suppliers automatically, and when it expires it leaves the marketplace automatically.

Turnover

Turnover is the revenue a company earns in a year from selling products and services, excluding VAT. It is the most widely used indicator of a company's size and appears in the annual financial statements.

Turnover is not profit: a company can have high turnover and a loss. On Markonex, the company profile shows total revenue from the public financial statements, along with profit or loss and the average number of employees, and the product comparison shows these figures for each supplier.

VAT code and VAT payer

A company is a VAT payer (registered for VAT purposes) once it exceeds the exemption threshold set by the Romanian Fiscal Code or when it opts to register. A Romanian company's VAT code is its CUI with the RO prefix, for example RO12345678, and appears on invoices.

For transactions with companies in other EU member states, the VAT code can be checked in the European Commission's VIES system. On Markonex, the VAT payer status is taken from ANAF and shown on the profile as the "VAT payer" badge.

Wholesaler

A wholesaler buys goods in large quantities from manufacturers or importers and resells them to other companies: shops, contractors, restaurants or other distributors. Its strengths are available stock, a wide range and fast delivery, at wholesale prices.

On Markonex, wholesalers appear as suppliers, just like manufacturers and distributors. A company's main activity shows in its profile description and in the CAEN code taken from ANAF.