How are “paperless” COTs handled?
In order for BNSF to handle paperless COTs, written notification must be received from the company involved stating that BNSF has been given authority to retain custody of their Certificates. Upon signed written notification, the AG Commodities Unit will retain the COTs and the holder will no longer receive the “paper” COTs. If the holder sells a COT on the secondary market, a paper COT is required in order to sign it over to the new owner. In this case, the original owner should contact the AG Commodities Unit requesting that a paper COT be sent in order to enable the transaction.
