Debate persists on when an independent undertaking is issued: upon leaving the issuer’s control or only when advised to the beneficiary. Various rules clarify issuance timing.
Trade finance digitisation solutions provider Bolero International announced 29 March 2022 its collaboration with blockchain-based global trade platform TradeLens whereby TradeLens’ electronic bill of lading (eBL) will be integrated into Bolero’s Galileo, connecting the two platforms’ respective networks of banks, corporates, and supply chain participants.
Galileo connects corporate clients with their trade partners and banks, enabling corporates to manage their trade finance instruments, ePresentations under LCs, open account, and electronic bills of lading in one central solution. The TradeLens eBL solution simplifies the issuance, transfer, and surrender of original shipping document to allow for the digitisation and automation of supply chain and financial processes.
Debate persists on when an independent undertaking is issued: upon leaving the issuer’s control or only when advised to the beneficiary. Various rules clarify issuance timing.
On 15 Feb 2023, DCSA members pledged to issue 50% of bills of lading (B/Ls) electronically by 2028 and 100% by 2030, aiming to cut costs and boost global trade.
