Anatomy of a documented trade: from enquiry to settlement.

Day 0 — the enquiry

A collector holds a mixed lithium-ion parcel: sorted cells, some EV modules, uncertain chemistry split. The first exchange establishes what is actually there — photos, any existing analysis, packaging state, location and the seller's documentation position. No price is quoted against an unknown.

Week 1 — characterisation

Representative sampling and assay establish the chemistry split (say, a majority NMC fraction with an LFP balance), moisture, and contamination levels. The material is classified on evidence — EWC coding confirmed, hazard assessment done, packaging requirements checked against carriage rules. This is the step that makes every later step possible: the route, the price and the paperwork all follow from what the material is shown to be.

Week 2 — matching and terms

The graded lots are matched to destinations that value them: the NMC fraction to a refiner paying on contained nickel and cobalt, the LFP balance to a processor whose economics work for it. Terms are agreed on the standard structure — the majority of payment on Bill of Lading, the balance on confirmed inspection at destination, with sampling and umpire procedures defined in the contract so a dispute has a pre-agreed resolution path.

Weeks 3–4 — movement, on the record

Duty-of-care and transfer documentation are generated digitally on our platform as the material moves; where a border is crossed, the TFS position is established first — Annex VII information for green-listed movements, or prior notification, consents and financial guarantees where the classification requires it. Custody is timestamped at each handover. Nothing here is special: it is the same record every RAW TG trade produces.

Settlement — and what remains afterwards

At destination, inspection and assay confirm what arrived. Settlement follows the contract: paid for what the material genuinely contains. What remains afterwards is the point of this article — a single retrievable record per consignment: characterisation data, classification, duty-of-care documentation, custody trail, shipping documents, inspection results and settlement basis. When a producer, compliance scheme, auditor or refiner's customer asks “where did this material go, and what happened to it?”, the answer is a lookup, not an investigation.

That is what EPR-grade evidence looks like when it is generated by the trade itself. See the full trade structure or how it connects to producer responsibility.

This article is general commentary from a trading desk, not legal or regulatory advice. Verify requirements against the applicable legislation before acting.