Emergency Contact IG Circular: Electronic (paperless) trading - Covantis eBL powered by Secro Home Latest updates News IG Circular: Electronic (paperless) trading - Covantis eBL powered by Secro 13 Nov 2024 View PDF Sign up for alerts Members are referred back to the Circular dated 8 December 2023 by which the International Group (‘the Group’) approved the updated version of the Secro Customer and User Agreement, dated 13th November 2023, and the use of an additional Secro standard e-bill subject to English law and the Electronic Trade Documents Act 2023 (‘the UK Act’), in addition to the previously approved Secro standard e-bill (subject to Singapore law), which all remain approved for the purposes of Club cover.    Secro has entered a partnership agreement with Covantis, a Swiss based technology company.  As a result of this collaboration, the Secro e-bill system will be offered to the agri-commodity trading industry as part of Covantis’ software as a service (SaaS) offering under the branding “Covantis eBL powered by Secro”. For non-agri commodity trades, Secro will continue to be offered under its proprietary branding by Secro Inc. Both “Covantis eBL powered by Secro” and “Secro” operate on the same underlying e-bill application previously approved by the Group. This notice confirms approval by the Group of the ‘Covantis eBL powered by Secro’ system. The legal documentation associated with the use and operation of the ‘Covantis eBL powered by Secro’ system, differs depending on whether users are existing or new clients.  Existing clients will already be subject to the Covantis Service Agreement, which contains generic terms and conditions for SaaS clients.  Existing clients who wish to take up the ‘Covantis eBL powered by Secro’ system, will now be required to sign the Covantis amendment agreement, which additionally binds them to the specific e-bill terms and condition.  New clients for ‘Covantis eBL powered by Secro’ will be