Gunvor is committed to the safety and efficiency of information transfer to maintain a stable trading network with our partners. As part of these efforts, the company has implemented Trakk – a tool which will ensure the origin, authenticity, and accuracy of documents. Trakk will generate a clear audit trail of actions performed against each document that all parties can see in real-time.
What is Trakk?
Trakk is a tool to manage operational risk in trade finance, by helping raise alerts and detect fraudulent documents as early as possible.
Trakk allows users to register, trace and authenticate digital documents. It ensures that any action that is registered on a document is linked to both the company and the individual authorised to perform the action.
Once a document is registered on Trakk, users can add activities that they’ve performed against it such as ‘certified’, ‘financed’ or ‘paid’. This builds a real-time, electronic audit trail against a document, and gives extra visibility on its status.
Trakk engineers trust between counterparties, contributing to a safer and more secure trading environment.
From the following dates, all oil trading and LNG invoices issued by the following entities will be gradually registered with Trakk:
21 February 2022
Gunvor SA
Gunvor International B.V., Amsterdam, Geneva branch
Gunvor Singapore Pte. Ltd.
8 March 2022
Gunvor USA LLC
Please note that paper-deal related invoices and NatGas invoices are excluded from this initial scope.
Other entities will be onboarded in the close future.