Developed an electronic documents and Digital Signature system to register grain purchase-sale contracts

They developed the Confirma system through which they register grain purchase-sale contracts and have a complete electronic documents and Digital Signature system. This service is used by the country's major exchanges (Rosario Commerce Exchange, Buenos Aires Grain Exchange, Santa Fe Commerce Exchange, Córdoba Grain Exchange, Bahia Blanca Grain Exchange, Entre Rios Grain Exchange) and they transact more than 90% of Argentina's grain commerce.

Challenge Desafío

The Grain Exchanges and the Rosario Commerce Exchange proposed in the year 2000 to change their traditional role as Contract Registration Authorities for paper purchase-sale contracts to an electronic model that would completely replace the exchange of those contracts.

The new model also included the Registration Book that the Exchanges are required to maintain in order to certify commercial transactions.

The challenge posed was the migration from the traditional paper-based model to an electronic model while maintaining the same legal protection conditions for all participants.

Solution Solución

The Grain Exchanges and the Rosario Commerce Exchange designed a Web site specifically dedicated to grain purchase-sale contract transactions for exclusive use by their operators: buyers, sellers, and brokers.

Each of the Exchanges established itself as an Electronic Signature Certifying Authority. This has made it possible to issue digital certificates to the people who represent each of the intervening parties in such a way as to provide the Web system with contractual and legal conditions comparable to those used in the traditional paper-based system.