Steps to Create Title Transfer on AgriChain

Introduction

Navigating through the complexities of commodity contracts is now a breeze with AgriChain's user-friendly platform, offering a seamless feature for creating title transfers. This enables sellers to smoothly transfer ownership of stored commodities directly to buyers on the scheduled transfer date. The following steps provide a user-friendly guide to ensure a hassle-free experience. 

Step By Step Instruction to Create a Title Transfer

1. Log in to AgriChain using your credentials.
2. Navigate to the Title Transfer module from the left-hand side menu.
3. Click on "+Title Transfer" (Green button) in the top right corner of the screen. You can create two types of title transfer:
   • Standalone Title Transfer: To create a standalone Title Transfer, please exclude from select a contract in the Title Transfer creation form.
   • Title Transfer against a Contract: To create a Title Transfer against a contract, please select the relevant contract in the contract field. Alternatively, you may create a Title Transfer directly from the Contract page. 
4. The Title Transfer creation form will open. Fill in all mandatory fields one by one. For help with field definitions, refer to this [Refer Article]
5. Once completed, click on “Continue and Review” (bottom-right corner).
6. On the Contract Preview screen, cross-check all the details.
7. Click on “Submit” to proceed.
8. A pop-up will appear (subject to "Show Email Pop-up" setting is enabled for the company) with the option to email PDF copies of the contract:
   1. Select the counterparty’s email address to send them a notification.
   2. (Optional) Tick the "Acceptance Request" checkbox if you want approval from the counterparty.
   3. Click “Send Now” to trigger the email or “I’ll Do It Later” to skip it. 

FAQs

Can I create a standalone title transfer without associating it with a contract?

Absolutely. In the 'Title Transfers' section, click on '+ Title Transfer' to create a standalone transfer not linked to a specific contract. This provides flexibility in managing individual transactions.

Is it possible to edit details after creating a title transfer?

Unfortunately, once the title transfer is saved, the details become permanent. Ensure accuracy during creation. If modifications are necessary, consider creating a new title transfer with the correct information.

Can I initiate a title transfer without a scheduled transfer date?

Every title transfer requires a transfer date. This ensures precision in execution and transparency in the system. Future dates are recommended for planning and coordination.

What happens if the tonnage specified in the title transfer doesn't match the actual delivered quantity?

It's crucial to input accurate tonnage. If discrepancies arise, consider creating a new title transfer with the correct details. Communicate any variations to the involved parties for clarity.

Can I create a title transfer for commodities stored at a location other than the bulk handler's site?

No, the BHC site specified in the title transfer must align with the actual storage location. Ensure consistency for a seamless transfer process.

Is there a limit to the number of attachments in a title transfer?

AgriChain allows multiple attachments for thorough documentation. However, ensure that the attached files are relevant and support the transfer process.

Can I track the status of a title transfer after creation?

Yes, the 'Title Transfers' section provides real-time status updates. Monitor the progress and completion of each transfer for efficient contract management.

What if I forget to attach supporting documents during the title transfer creation?

While attaching files is recommended for comprehensive documentation, it's not mandatory. You can always go back and attach relevant files later for reference and clarity.

Can I void a title transfer after it has been executed?

Once a title transfer is executed, it cannot be voided. Ensure all details are accurate before confirming the transfer to avoid complications.

Are there any restrictions on the characters or format of the internal reference number?

There are no strict limitations, but consider using a clear and consistent format for internal reference numbers. This helps in organising and retrieving information efficiently.