FREQUENTLY ASKED QUESTIONS
What are electronic certificates?
They look exactly like paper certificates yet are maintained in an electronic account.
Can I get a hardcopy?
Yes. They can be viewed, printed, e-mailed, faxed … they look exactly like a paper certificate yet the hardcopy is not transferable.
How confidential and secure is this?
Very, the system is managed by the Ascent Technologies and all information is confidential, not even the silo owners can view ownership details.
Who are sponsors and users?
The initial sponsors are Senwes and Afgri. The system is open to use by all silo owners and all users of certificates including brokers, traders and end users.
Who can use the system?
The system is open to use by all silo owners who have registered and all users of certificates including brokers, traders and end users
(a participant list can be obtained from the registered users page on the site).
This is an industry platform that is available to the entire grain industry.
How do I access ESC?
How do I access ESC? Via the internet at www.silocerts.co.za or at www.esc.co.za and then clicking on the "login" button in the left panel.
What if I do not have internet access?
Often owners will make use of parties with access to act on their behalf (e.g. brokers or the silo owners’ administration). If parties act as users on an account, they are able to transact on the owner's behalf without acting as a principal. There is also a telephonic trading functionality available.
How complex is the system?
It is designed with a simple interface with accompanying “How To” guides – one is normally up and running within 15 minutes.
What else can the system help me do?
It can manage encumbrances for loan security; manage splits, cancellation requests and book back to silo owners for physical delivery. Owners can give viewing rights to others. The secure register has full reporting capability and integration to Microsoft Excel at the click of a button.
Real-time?
Yes. No more reconciling certificates, no more couriers, no more time delays for cash transfers or transactions waiting for the paper certificates to move, no more lost certificates, no more requesting silo owner confirmations, absolute real-time control.
Does Safex use ESC?
Yes. Safex's systems were integrated at the end of January 2006.
I only use Safex for hedging and do not use it for physicals, do I need to use ESC?
No, this is for use only if you are involved in the physicals through ownership of silo certificates.
How do I open an account?
You can request a New Account application form from support@silocerts.co.za or download one from the Document Pack on the site.
How do I log-on?
From the web site click on “Login” and enter your username, password and pin.
OK, I am logged on now what?
The system is designed simply and intuitively. All your certificates, from the various participating silos will automatically appear in a single list with the summarised details of the certificate indicated. To view the actual certificate, click on the “Viewer” icon and it will appear and look like the paper certificate you are used to, which you can then print, email, etc.
How do I analyse my certificates?
The register automatically allocates certificates into the various heading areas (e.g. owned, encumbered, requesting delivery, etc). By pressing the Certificate Analyser button, your electronic certificates across all silo’s can by analysed by Safex compliant or non-Safex; silo owner; silo location; product; grade; purchased from whom; purchased when; daily or annual storage type….and varying in combinations…true real-time management reporting.
How do I transfer ownership to someone else?
Tick the certificates you wish to transfer, select the option "Transfer Out" and indicate to whom and why (change of ownership, encumber, request delivery, etc) and press “Submit”. The certificates will pend awaiting the other party's acceptance of ownership (and you can set the window period during which this must occur).
Converting between electronic to paper and vice versa (only applicable to Senwes and Afgri silo certificates)
A certificate owner can request a tradeable paper certificate from ESC by registering with ESC and completing a once-off “paper conversion” application form. The certificate will first be issued in an electronic format by the Silo Operator and thereafter the grain owner will need to send instructions to ESC requesting a conversion. There are no ESC charges for the conversion from electronic to paper and later from paper to electronic format. Paper certificates can be collected at ESC in Sunninghill.
How do I take ownership of a certificate I am buying?
Select the option “Transfer In” and indicate which certificates and from whom you wish to acquire the certificates. If the “Transfer Out” above matches your “Transfer In”, ownership is changed, the register and audit trails are updated instantly and e-mailed confirmations are automatically sent to all parties.
I have various staff members who would need access to the system?
Each account can have several users with individual profiles and passwords. They can have view only status, full user status or the ability to make limited changes. Audit trails of all activities are available by individual staff member or user.
Other silo operators?
The system is available for use by all silo operators who choose to participate and a phased approach to bringing on other silo operators is in progress.