The issuance of G-Soko electronic G-Notes is done by the G-Soko Registry. The G-Note represents legal title to the grain commodity deposited in G-Soko certified warehouse. The G-Soko Registry is therefore the sole entity authorized to and responsible for issuing Electronic G-Notes, printing copies of G-Notes, transferring legal title, and canceling the G-Notes. The Electronic G-Notes is transferable and negotiable on G-Soko through the function of the G-Soko Registry. The Registry maintains separate accounts for every grain depositor. The Electronic G-Notes can be used for the purposes of securing collateral finance or also known as inventory financing where depositors can use it to access farm input and other services on credit.
For electronic G-Notes to be issued, the following conditions must be adhered to:
- The Goods Received Note (GRN) issued at the G-Soko warehouse is a precondition for issuance of electronic G-NOTE by the G-Soko Registry.
- The minimum tonnage for an EAGC warehouse receipt shall be ten (10) metric tons; there is no maximum tonnage for a G-Note;
- G-Notes may only be issued for those commodities for which the warehouse is certified.
- G-Notes may only be issued for those commodities which have been 100% cleaned by the warehouse operator unless there is specific waiver to the depositor.
- G-Notes may only be issued for those commodities which have been graded by authorized graders.
- G-Notes may be issued for commodity stored in bulk or bagged.
- G-Notes shall only be issued for grain commodity that has passed across authorize weighing device.
- G-Notes shall only be issued for grain commodity meeting standards and specifications issued by the G-Soko.