18 October 2017
Find out more

Green Coffee Association introduces XML-based online contracts

24 August 2001  |  1034 views  |  0 Green Coffee Association introduces XML-based online contracts

The Green Coffee Association (GCA) has developed a new Internet coffee contract format to provide the industry with the ability to transfer trade agreements online.

Based on the open XML architecture, this electronic format is designed to support a movement toward convergence in electronic standards for transfer of documents and information throughout the global coffee market. The CGA says its aim is to make the transfer of legally binding documentation for coffee more uniform, efficient and less costly.

Roland Veit, GCA chairman, says: "The coffee industry will now be able to send and receive contracts electronically using this new and safe standard, and the result will be lower administration costs for everyone, as well as the ability to process cross-border transactions faster than before."

InterCommercial Markets Corp, a software application services provider to the global commodities industry, has announced its intention to adopt the GCA standards to enable its coffee customers to transmit contracts and pricing data over the Internet.

The Internet contract initiative was spearheaded for the GCA by its Contract Modernisation Committee. The Association says it has also been working with experts from international trade platform bolero.net.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related blogs

Create a blog about this story (membership required)
Register now visit www.capgemini.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15204 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8401 views comments | 16 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7917 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7360 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6518 views comments | 8 tweets | 16 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job