How it works

From terms to closure

A transaction progresses only when the agreed information and evidence are present.

• 01 · Establish

  Verify the organisations, beneficial owners, representatives, permissions, and nominated accounts.

• 02 · Structure

  Record the product, specification, quantity, price, currency, delivery rule, named place, timing, payment terms, governing law, and dispute route.

• 03 · Commit

  Authorised representatives accept one identical contract record and its document schedule.

• 04 · Perform

  Assigned parties submit the required transport, inspection, insurance, commercial, and official evidence as performance occurs.

• 05 · Examine

  Required data is checked against the accepted terms. A mismatch becomes a recorded discrepancy rather than an invisible exception.

• 06 · Instruct

  Where the agreed payment structure requires it, an authorised instruction progresses to the responsible licensed institution.

• 07 · Close

  Completion, outstanding issues, every document version, and every material approval remain in the final record.

The contract particulars

A usable record begins with complete, unambiguous commercial particulars.

• Goods

  Commodity or product, grade, specification, crop or production period where relevant, quantity, and tolerance.

• Price and delivery

  Price, currency, delivery rule and version, precisely named place or point, shipment or delivery window, and notice requirements.

• Evidence and payment

  Document schedule, inspection basis, payment method, timing, conditions, and bank details handled through controlled fields.

• Legal framework

  Governing law, incorporated standard form or rules, dispute procedure, arbitration seat where applicable, and authorised signatories.

The transaction document schedule

Only the documents required for the particular transaction should be collected.

Common categories include a commercial invoice; packing, weight, or measurement record; transport document such as a bill of lading; certificate of origin; independent quality or quantity certificate; insurance evidence; phytosanitary or other official certificate where required; and customs or export evidence where applicable.

Discrepancies and corrections

A mismatch pauses the affected path and produces an attributable decision.

• Detect

  A required document, field, signature, date, quantity, or other value does not agree with the accepted record.

• Classify

  The discrepancy is linked to the relevant term and assigned to the party responsible for resolving it.

• Correct or accept

  A corrected version is submitted, or an authorised contractual waiver is recorded where the governing terms permit it.

• Retain

  The original submission, later version, review, reason, person, and time remain visible in the audit history.

Reference framework

Trade rules apply only when the contract, payment instrument, or applicable law makes them relevant.

Incoterms® 2020 can allocate delivery tasks, cost, and risk, but it is not a complete sales contract. GAFTA forms and arbitration rules may be incorporated into eligible commodity contracts. UCP 600 and eUCP concern documentary credits when the credit incorporates them. Electronic transferable records depend on the applicable legal framework.

• ICC · Incoterms® 2020↗

  Delivery responsibilities, costs, and risk allocation.

• GAFTA · Arbitration↗

  Standard forms, Arbitration Rules No. 125, and mediation.

• ICC · UCP 600 and eUCP↗

  Documentary-credit rules and electronic presentation.

• UNCITRAL · MLETR↗

  Legal framework for electronic transferable records.

Disputes remain contractual

BSX does not decide which party is right.

The intended role is to preserve the affected state and provide a complete, attributed record. The governing contract determines negotiation, mediation, court, or arbitration procedures and the enforceable outcome.