One commonly asked question is, “how long does a temporary trade take to process?” From the Water Broking World end, we need full payment and transfer forms back within three business days for temporary trades. Then we forward the paperwork to the authorities and the transfer time depends on the source and destination trading zones and how busy the water authorities are.
The SA, Vic and NSW state water authorities have service standards where 90 % of trades must be processed in less than a certain number of days. All met their service standards in 2014/15.
The following table shows their service standards in business days.
Department of Environment, Water and Natural Resources, South Australia, Processing Times for Water Trades – Report
Department of Environment, Land, Water & Planning, Victoria, 2014-15 water trading report
Department of Primary Industries, New South Wales, NSW Water Register
Private irrigation corporations haven’t all got a service standard and if the source or destination is in one, this will add more time to the transfer.
Once we receive confirmation the water has been transferred, the funds are settled. Direct debit often takes another business day for the banks to process. Why they can process credit cards instantaneously, but not direct debit or BPay is one of life’s mysteries.
There is no single answer to how long it will take. Best case scenario is one day if it is Victoria to Victoria and we get the money and documentation straight away. This is because Water Broking World has a login to the Victorian Water Registry and we can lodge trades online. The longest case could be 30 business days if it’s between two private irrigation corporations in NSW and SA. Water Broking World will keep you informed of the status of your trade with every step.
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