ICE CargoDocs eWarehouse Warrants & Receipts
ICE CargoDocs enables negotiable eWarehouse Warrants (eWWs), non-negotiable eWarehouse Receipts (eWRs) and eHold Certificates (eHCs) to be drafted, reviewed, approved, signed, issued and managed electronically through their full lifecycle.
Both negotiable and non-negotiable Warehouse eDocs are managed by the exact same parties that would handle paper equivalents today.
- Interfaces with Warehouse Management Systems
- eDocs created, approved, signed and issued by up to 4 separate individuals to reduce fraud risks
- eDocs endorsed, presented to banks, surrendered, and handled electronically
- Set pre-determined trading limit, i.e. up to 4, 5, 6 times etc.
- Set auto-void functionality over a specified time-frame, i.e. eWW/eWR void after 1, 2, 3 years etc.
- Can be used in conjunction with a variety of Trade Finance instruments and/or facilities
- Real time Inventory View for warehouse keeper, traders and banks
Benefits for Bonded & Non-Bonded Warehouses
ICE CargoDocs ensures that all relevant parties have direct, secure access to eWWs, eWRs, eHCs & supporting eDocs in real-time. Key benefits include:
- Significant reduction of risk & fraud
- Increased visibility & control due to online access of originals
- Eliminates risk of loss or damage of paper documents
- Amendments within minutes
- Improved compliance
- Ability to access original eDocs from any internet enabled device; no software or hardware required
ICE CargoDocs eHolding Certificates (eHCs) went live at major refined metals warehouses Spain in Q2 2016, while ICE CargoDocs eWarehouse Warrants (eWWs) were rolled out in Q3 2016 across major refined metal warehouses in Mongolia. The solution will be implemented in due course across Africa and Latin America for refined metals, non-ferrous concentrates, bulk commodities and bulk chemicals. Subject to local laws, eWWs, eWRs & eHCs can be used for any cargoes warehoused anywhere in the world.
ICE CargoDocs comes with free insurance against fraud and related risks, covering (i) eRisks (such as eCrime and eFailure) with a limit of US $20 million for any one title eDoc and (ii) other liabilities arising under the DSUA with a limit of $1 million.