eCOPS

eDocuments

The Effective Replacement for Paper Documents
Electronic documents (eDocuments) created in eCOPS contain all the information that the corresponding paper documents would include. eCOPS documents can be designed to address the needs of any industry.

Data Re-Usability
eCOPS is using XML to dynamically represent the data within the eDocuments. This feature allows eCOPS to re-use data from one document to the next one. Information is entered only once and then transfers dynamically through the entire lifecycle of the eDocuments within the delivery process.

Automatic Records Updates
Documents become an electronic data stream that automatically updates records for the deliverer, the receiver and beneficial owner whenever data is entered into the System through a customized, industry-standard document.

Electronic Data Transfer
All of the documents can be read and printed, but because they are in XML format, the information can be transferred electronically into the user's in-house computer system. All systems that accept industry standard data in XML can receive updated information automatically.

How eCOPS Works

Assigned Roles: Participation in eCOPS is defined by the commodity and role for which you register. eCOPS allows you to register your organization for more than one commodity and role. For example, a Warehouse Operator which provides weighing and sampling services, may register as both warehouse operator and sampler and weigher. The currently defined roles are BANKER, DEALER, GRADER, QUALITY CERTIFIER, SAMPLER, WAREHOUSE OPERATOR, and WEIGHER.

Additional roles are anticipated in the near future which include INSURANCE COMPANY, LAND CARRIER, OCEAN CARRIER, and SHIPPER.

Two main features of eCOPS include an Event Manager and a Title Registry.

The Event Manager
The Event Manager acts like an electronic mail Inbox listing all documents and events sent and received by the user through eCOPS. eCOPS also establishes an audit trail by recording the sending and viewing of each event in the Event Manager. As a result, missing deliveries or delays in transit of the critical documents become a thing of the past. The Event Manager provides the secure environment where each registered eCOPS user is able to access only the applicable events and documents. From the Event Manager, the user also has the capability to search, view and create eDocuments for which the user is authorized, review billing and perform other functions as defined by the eCOPS role(s).

The Title Registry
A feature that sets eCOPS apart from all other automated delivery systems is the Title Registry. As an authorized electronic warehouse receipt provider, registered with the U.S. Department of Agriculture, ownership of individual lots of coffee and cocoa is duly registered.

Types of Documents

Electronic Warehouse Receipt ("EWR")
A negotiable document evidencing title for the goods stored in a storage facility. The EWR is the core document of eCOPS and most of the other documents included in the system revolve around it. The information contained on each EWR is simple and not unlike its paper counterpart, including a warehouse facility's location, terms and conditions, etc.

Certificate of Grade
A document issued by a commodity quality certification organization (ICE Futures U.S. or any other industry organization) describing the quality of the commodity.

Weighing Request
A document issued to the weigher requesting that goods be weighed.

Weight Note
A document containing the weighing results of the goods identified on an EWR.

Title Transfer
Equivalent to the endorsement of a paper receipt transferring title of the goods to another party.

Delivery Order
Instructions to the storage facility operator to release the goods in order to physically move them out of the facility.

Sampling Order
Instruction to draw samples.

Sampling Confirmation
Confirms the completion of the sampling process.

Commercial Invoice
Initial projection of the principal amount to be transferred between the Buyer and the Seller to settle their obligations on either a pro forma or final basis.

FDA and Custom Entry Document
Facilitating the import of goods into the United States. This document provides a voluntary record of information requested by U.S. Customs in accordance with C-TPAT. It can also serve to record information that is necessary to fulfill the FDA prior notification rules promulgated under the Bio-terrorism Act.

Exchange Certified Stock Valuation
Provide an estimated value of the goods identified on EWRs based on Exchange delivery rules.

Contract
Sets forth a summary of the principle terms of an agreement negotiated between a Buyer and a Seller.

Documents for collateral control: The life blood of any commodity market is financing. There are two basic categories of financing available to commodity exporters or importers: balance sheet financing and financing secured by collateral. Since even the largest dealers look to better leverage commodity transactions, collateralized transactions are once again becoming the best way to efficiently finance a commodity operation.

The electronic Title Registry feature of eCOPS greatly enhances the efficiency of using a commodity as collateral. The EWR is again the centerpiece of collateral control, but eCOPS also uses Notice of Assignment, Bank Release and Trust Receipt documents which have been designed by representatives of the banking community and are specific to banking requirements.

Notice of Assignment
A document that identifies the EWRs to be transferred to a Financial Institution or a Clearing Member as the Titleholder and leaving the beneficial ownership of the commodity unchanged.

Bank Release
Used by Financial Institutions to identify EWRs to be transferred to the beneficial owner of the goods or to any other entity.

Trust Receipt
A notice of intention to a lender for the release of the goods to the borrower in anticipation that the debt will be repaid upon the sale of the commodity.

Fee Schedule >>

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