An unregistered counterparty is defined as NOT registered/using the AgriChain platform.
If you enter into a commodity contract and/or freight order with an unregistered counterparty, they will still be able to accept/reject contracts and orders via email.
Refer to:
However, if an unregistered counterparty has approved and agreed to the contract/order beforehand via other means, and it remains unconfirmed on the AgriChain platform, this can be marked as accepted/rejected by the registered user on the AgriChain platform.
- The registered user is often the creator of the contract/order, or a user with the highest authority.
- E.g. A Broker representing a Grower (Seller).
The AgriChain platform has a 60-minute wait time for marking unconfirmed contracts/orders as accepted/rejected, provided it has been approved and agreed to beforehand via other means.
Thus, after 60 minutes, the ability to mark unconfirmed contracts/orders as accepted/rejected by the relevant counterparty will return to the creator, or a user with the highest authority on the AgriChain platform.
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