What is GNEX-SATA™?
The Standard Almond Trading Agreement (GNEX-SATA)
has been created by GNEX to make
it possible to buy and sell physical almonds quickly and efficiently using
a standardized set of terms.
The comprehensive agreement terms are based on current industry best practice, enhanced
to meet the requirements of trading on the GNEX platform and to provide clarity
of post-trade obligations. GNEX-SATA is also suitable for traditional off-platform
trades.
GNEX-SATA combines with a range of standardized almond commodities
designed to meet the needs of international sales and purchases. By standardizing the terms and the commodity definitions
we are able to provide you with unrivalled price visibility for a particular product and delivery period.
Benefits of GNEX-SATA
Pricing basis is clear. Bids and Offers from different trading partners can be compared with confidence.
Industry-standard terms. GNEX-SATA has been written specifically for the almond market using current accepted best practices.
Clear delivery obligations. Standardized incoterms and timings for each stage from trade to payment. The GNEX platform supports this with prompts at
each stage and provides an independent record of actions in case of dispute.
Independent and balanced contract. The agreement has been created with regard to the concerns of buyers and sellers.
How can I view GNEX-SATA?
GNEX-SATA is available for use by trading members of the GNEX platform. It may also be used for
traditional off-platform trades where one party is a GNEX member at the time of the trade.
Find out more about our membership options.