Food trade terms, explained in plain language.
Plain-language answers about T57, and the trade, finance and technology terms behind it, from escrow to HS codes.
Glossary
26 terms, in plain language
- AI advises, people decide
- T57's principle for AI. AI makes recommendations, and a person reviews every adverse decision, with a stated reason and a route to contest it. On T57 →
- Beneficial owner
- The person who ultimately owns or controls a company, even if the shares are held through other companies.
- Bill of lading (B/L)
- A document issued by a carrier that receipts the goods, sets out the terms of carriage and, in most forms, gives title to the goods.
- Certificate of origin
- A document that states the country where goods were produced, used to apply duties and trade agreements.
- Cold chain
- Temperature-controlled storage and transport that keeps perishable food safe from producer to buyer.
- Cooperative / FPO
- A group of producers that sells, buys or works together. In India, a farmer producer organization (FPO) is a registered group of farmers.
- Corridor
- A regular trade route between a supplying market and a buying market, such as India to Saudi Arabia. On T57 →
- Escrow
- An arrangement where a licensed third party holds the buyer's payment and releases it to the seller when agreed conditions are met. On T57 →
- Halal certificate
- A certificate from an accredited halal body confirming that a product meets Islamic dietary requirements. On T57 →
- HoReCa
- Hotels, restaurants and caterers, the food service sector.
- HS code
- The Harmonized System code that classifies traded goods for customs and duties.
- Incoterms
- Standard trade terms from the International Chamber of Commerce, such as FOB or CIF, that set who pays for and bears the risk of each stage of delivery.
- Intermediary
- A business that connects buyers and sellers without producing, processing or holding the goods. T57 labels intermediaries so buyers know who they deal with.
- Invoice financing
- Finance a lender provides against an unpaid invoice, so the seller is paid before the buyer's payment is due.
- KYB (Know Your Business)
- Checks that confirm a company is real, properly registered and licensed, and who owns it. On T57 →
- KYC (Know Your Customer)
- Checks that confirm the identity of the people who own and act for a business. On T57 →
- Letter of credit (LC)
- A bank's promise to pay the seller when the seller presents documents that meet the LC's terms. On T57 →
- Owner-producer
- A member that grows, raises, catches or makes the goods it sells, with ownership verified by T57.
- Phytosanitary certificate
- A government certificate confirming that plants or plant products meet the importing country's plant health rules.
- Sanctions screening
- Checking people and companies against government sanctions and watchlists. On T57 →
- Smart contract
- Software that carries out agreed steps automatically, such as instructing a payment partner to release funds when a delivery is confirmed.
- Supply status by origin
- T57's view of whether supply of a product from an origin is surplus, stable, at risk or in shortage. On T57 →
- T57 Passport
- A member's reusable verified profile, showing their role, checks passed and trade history, shared with consent. On T57 →
- Tokenized trade document
- A trade document, such as an invoice or warehouse receipt, issued as a unique digital token so it cannot be duplicated or financed twice. On T57 →
- Trade finance gap
- The value of trade finance that businesses request but cannot get. The Asian Development Bank estimated it at $2.5 trillion in 2025. On T57 →
- Trade record
- The single shared record of a trade on T57, from quote to settlement, that every party sees. On T57 →
No term matches. Try another word, or ask the Help Center.
FAQ
Common questions
What is T57?
T57 is AI-native digital trade infrastructure for the entire food ecosystem. It is a members-only trade club where verified producers, processors, traders and buyers trade on one shared record, with finance, insurance, logistics and inspection from licensed partners.
Is T57 a marketplace?
No. On an open marketplace, anyone can list. On T57, every member is verified before they trade, and their role is checked and shown.
Does T57 buy or sell food?
No. T57 does not own goods, lend money, hold client funds or provide transport. Members trade with each other, and licensed partners provide regulated services.
Which countries does T57 operate in?
Saudi Arabia, the UAE, India, Malaysia and Türkiye, with more markets to follow.
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