Services
Digital Mandate Credential
The Digital Mandate Credential is a proposed verifiable digital record that confirms a named individual is authorised to act on behalf of a specific CRT member organisation in a defined capacity. It addresses one of the most persistent fraud vectors in commodity trade: the false mandate.
Who it is for
The Digital Mandate Credential is relevant to:
- Individuals who are mandated by an organisation to act on its behalf in commodity transactions and wish to demonstrate that mandate verifiably
- Organisations that wish to issue verified mandates to their representatives and intermediaries
- Counterparties who need to verify that a person claiming to represent a specific organisation genuinely has authority to do so
The problem it addresses
False mandate claims are one of the most common mechanisms used to perpetrate commodity trade fraud. An individual may claim to represent a well-known producer, buyer or institution, provide documentation that appears authentic, and induce counterparties into advance payments or unfavourable positions based on that false authority.
Even genuine mandates are difficult to verify. A third party receiving a mandate letter cannot easily confirm whether the signatory had authority to grant the mandate, whether the mandate remains current, or whether the claimed principal organisation has any knowledge of the transaction.
Scope
In scope: The Digital Mandate Credential will confirm: the identity of the authorised individual (as verified through CRT's membership process); the name of the authorising organisation; the defined scope and limitations of the mandate; the grant and expiry dates of the mandate; and whether the mandate is currently active.
Out of scope: The Credential does not verify: the legitimacy or authority of the authorising organisation itself beyond its CRT membership; the commercial validity of any transaction the mandate is used to enter; or legal authority to bind the principal in any jurisdiction.
Limitations
Digital Mandate Credential — limitations
- The Credential confirms that the principal organisation, as a CRT Business Member, has issued the stated mandate. It does not independently verify the commercial or legal authority of the principal organisation.
- CRT is not a legal entity recognition authority. This credential does not constitute a legally binding instrument in any jurisdiction.
- Mandate details are provided by the authorising organisation. CRT does not independently verify the commercial basis or terms of any underlying agreement.
- This service is proposed and not yet designed in detail. Specifications are subject to change.
Availability
The Digital Mandate Credential is at an early proposed stage. It is not available and no timeline has been confirmed for development. It is conditional on the Business Membership programme being established and operational.
Interested in the Digital Mandate Credential?
This service is in early development. Register your interest to be consulted on the design.