Osmium-Identification-Code
Owner Change Code (OCC)

Owner Change Code (OCC)

Transfer process for private goods

Prior to delivery, each osmium piece is certified and receives as part of this process an Osmium Identification Code (OIC) that refers to the photographic documentation of its unique crystal surface.

All information specifying the osmium piece, including dimensions and weight, is stored in the International Osmium Database. This information does not only support identifying osmium again, but can also be used to retrieve the owner of a piece or to prove and confirm ownership on behalf of the owner.

Storing this information along with personal information of the owner in the database is therefore optional only. The latter is available to the institute, but not publicly visible when an OIC query is submitted. This is useful, for example, if an osmium piece is available for sale and the owner needs to be identified to receive a purchase offer.

 

Status reports on the whereabouts of osmium

The database also stores several status indicators which are important in the process of transferring ownership. For a given osmium piece, this includes in addition to the personal information of the owner also the personal information of the possessor. A possessor can be e.g. an intermediary or a processing company.

Additional status indicators which are documented in the database include e.g. packed, unpacked, shipped, insured, duty paid. For dispatched goods, the tracking number can be stored and automatically forwarded by the system to the new possessor or owner to enable online tracking of the current location.

 

The Owner Change Code (OCC)

In several circumstances, the possessor or owner of an osmium piece may change, necessitating updates to the information stored in the database. For this purpose the OCC is issued with each osmium piece. It consists of a combination of six letters and numbers. The OCC expires once it is used to change the owner. In this case, the new owner will receive a new OCC. Possessors can be changed multiple times by using the same OCC.

An OCC is not issued until an owner is registered in the osmium database. This happens at the time of sale or later upon request of the customer in the osmium database. If an osmium piece is sold and ownership or possession is registered, the current owner must prove ownership.

Scenario 1: An owner intends to hand over the goods to someone else while remaining the owner. In this case he or she uses the OCC to open the corresponding database entry of the osmium piece and updates the information pertaining to the possessor. This can be particularly useful if goods are stored in a different location, e.g. in a safe deposit box at a bank. Private individuals are also able to document the shipping status. This makes transactions between private individuals as safe and straightforward as buying from an Osmium-Institute or a wholesaler. Owners are encouraged to keep the details of the respective possessor always up to date. Because the information of past possessors is permanently archived, the path of an osmium piece is traceable, provided that owners consistently document status updates.

Scenario 2: An owner intends to sell an osmium piece (as a transaction between two private individuals). For this owner it is important to have an accurate record of the date of the previous transfer of ownership to determine tax implications of the sale, in particular his or her eligibility for exemptions from capital gains tax (dependent on the applicable legislation). It is therefore critical to document any changes of ownership right at the time of the sale. Information which can be saved, if desired, includes personal information of the new owner (full name, country of residence, address, phone number, email address) as well as the price. The local Osmium-Institute can provide this information upon request to support, for example, substantiating discussions with taxation authorities.

The current owner changes the owner online after the transaction has been completed (monies received and goods handed over). This is done by calling up the osmium piece on this website and entering the OCC for that osmium piece. First, the current owner needs to enter and check the personal information of the new owner, including in particular the email address of the new owner. The new possessor can be registered at the same time. In case of a transfer of ownership, the new possessor usually corresponds the new owner, but there may be cases where the purchased goods are in possession of e.g. an intermediary or a jeweler.

From the moment of activation of the OCC by the transfer of ownership, the former owner has no longer any possibility to dispose of the entries of the owner. The new owner receives a new OCC from the system and can now independently make changes in the ownership entry and change the possessor. However, the name of the new owner cannot be changed unless a new owner actually takes the place of the old owner. For example, the owner can change his address, but not his name. In the event of marriage or inheritance, a transition process is initiated which begins with a direct request to the Osmium-Institute. Proof of the name change or inheritance must be provided to change the owner's name. The final change of name can only be authorized by the local Osmium-Institute.

 

In addition, goods may need to be recertified:

Scenario 1: An osmium piece, e.g. a star-row, has broken into two or more pieces which are now planned to be resold. These pieces are sent to the Osmium-Institute, which invalidates its Osmium Identification Code (OIC), tags them as split osmium pieces and re-enters these pieces with two or more new OICs into the osmium database. The origin is still clearly traceable and documented in the history of the individual pieces. It is also possible to recertify osmium pieces which originate from the early days of the trade of crystalline osmium and which do not have an OIC yet. Likewise, recertification of osmium pieces can be carried out to improve the photographic documentation or if a piece cannot be found in the database, although it is clearly crystalline osmium.

Scenario 2: One or more osmium pieces have been combined into one single osmium jewelry piece. In this case, the respective jewelry manufacturer or jeweler provides his or her local Osmium-Institute with high-resolution photographs of the entire osmium jewelry piece with the osmium surfaces clearly visible. Also, the OICs of the individual osmium pieces and their arrangement in the osmium jewelry piece need to be indicated. The local Osmium-Institute merges these OICs into one new OIC for the osmium jewelry piece. This new OIC is saved together with the full name, country of residence, address, phone number and email address of the possessor, the owner and the jeweler in the osmium database. This information is also used to issue certificates for osmium jewelry pieces. When at some stage the individual osmium pieces are removed again from an osmium jewelry piece, the original OICs are reactivated and the osmium pieces can be sold again, provided they have not been damaged or otherwise modified.

 

 

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Owner Change Code (OCC)