Paid against paper.Check it against its sealed original.
Warehouse receipts stand in for goods that lenders and buyers never see. Crodax is designed to link each receipt to the original the warehouse sealed, so a lender can check it before funds move and, within an agreed scope, see whether it was already presented.
Start with one workflow
The numbers
Where it breaks.
- 01
Goods stored
The warehouse issues a receipt for the goods it holds.
- 02
Receipt pledged
A trader pledges the receipt to a lender for financing.
- 03
Presented again
A copy reaches a second lender or buyer, who cannot see the first.
Breaks here - 04
Found too late
The gap shows at inspection or at default.
The same handover, checked.
- 01
Seal at issue
The warehouse seals the receipt when it issues it.
- 02
Check before funding
The lender checks the receipt it holds against the sealed original.
- 03
Record the pledge
The check and the pledge join the record the next party will see.
- Issuer
- Warehouse
- Record type
- Warehouse receipt
- Goods
- Nickel cathodes, 24 t
- 01Issued by the warehouse
- 02Sealed9E44…A1F0
- 03Checked by the lender
Receipt matches its sealed original
Who takes part.
Roles, not names. Each keeps its own system.
- Warehouse
- Trader
- Lender
- Buyer
- Inspector
Receipt check
One warehouse, a trader and one or two lenders. The outcome to test: every pledged receipt checked against its sealed original before funds move.
What Crodax does not check here.
Crodax does not inspect goods or establish legal title. The warehouse remains responsible for the receipt; inspectors and lenders keep their own checks.
Map this handover with us.
Tell us where the handoff breaks. Start a conversation about the participants, the evidence and the outcome you want to test.
Other tracks
Freight release Watches and collectiblesSources
Every figure has a source.
Publications, reports and judgments. Find the original context behind the figures.