Product Review
Product Review ... Electronic Warehouse Receipts

eGrain was founded in 2004, and one year later, it received U.S. Department of Agriculture approval for its central filing system for rice and grain under the United States Warehouse Act.

According to Operations Support Analyst Chris Kincade, eGrain introduced the first online electronic warehouse receipts (EWR), and today the company handles EWRs for 13 commodities that can be accessed online anywhere.

“EWRs represent title documents that make them legally equivalent in every way to paper warehouse receipts,” explains Kincade. “Many businesses in the grain industry use eGrain electronic documents and realize many benefits, including improved efficiency and reduced costs.”

Fast and Secure

“EWRs can move through the system as fast as trading activities and money transfers,” he says, “making them ideal for securing grain positions in today’s environment. They’re also much more secure than mailing paper warehouse receipts and eliminate the expense of using overnight mail.”

Features

• Allows access to price later contracts and all service licenses.

• Provides better security than paper warehouse receipts and eliminates the need for overnight mail.

• Enables instantaneous transactions and access to records and updates instantly.

• Cloud-based website provides fast, secure access and eliminates the need for software updates and installations.

From November/December 2021 Grain Journal Issue