About iTTS

Integrated Tea Trade System is an online solution to automate the existing Tea Trade Cycle beginning from Pre-Auction , Auction and Auction Process. The pre-auction stage involves delivery of teas to producer ware house facilities in Mombasa, cataloging, facilitating related trade documentation, the tasting and valuation of teas. The second stage is the auction teas at the Mombasa auction while the post auction activities relate to invoicing, exchanging trade related documentation, collection teas bought and executing payments to producers.

The Pre- auction stage starts when producers/farmers have tea ready to be dispatched from their stores to the Warehouses designated to handle tea going to the auction. Dispatching involves packaging of tea, booking of transport and warehouse space, and movement of the tea to the warehouse. Upon arrival at the warehouse, the teas’ volumes and quality of packaging are verified before stocking in. A notification is then issued to the producers and the brokers on the status of the tea. The brokers will generate a catalogue (a list of teas that have been warehoused and earmarked for trading. It remains a draft that is updated until 4 days to the auction day when it is closed).

The catalogue is used by the broker to communicate to buyers teas available for trading, their quantities, grades and indicative prices before the auction. Apart from the catalogue, tea samples are collected by brokers from the warehouses that are tasted by the brokers and buyers to determine their quality and grades. The auction stage involves the actual buying and selling of tea on the auction floor. It is where brokers and buyers interact through the outcry method whereby each broker takes turns to announce their lots of tea on sale and invite bids from the buyers.

The post-auction stage begins immediately at the close of trading where EATTA (secretariat), brokers and buyers individually reconcile the sold/bought teas. Subsequently, the broker confirms each order with buyers and generates invoices. After the buyer pays, the banking service provider generates a Tea Release Document (TRD) and transfers the money paid to the producer's bank account. Using the TRD the buyer takes over ownership of the tea by presenting it to the warehousemen. The buyer then moves the teas to a blending and/or packaging facility.