Archives
Freight News, Sea
First electronic bill of lading for EssDOCS
[ March 24, 2014 // Chris ]EssDOCS has completed its first operational use of its electronic bill of lading (eB/L) solution in the container line market involving an NYK Line electronic bill of lading (eB/L). The negotiable electronic ocean or master bill of lading was issued by NYK Line to Elite International Logistics Singapore, working on behalf of the customer, for a shipment from Singapore to China.
The forwarder added the supporting eDocs and presented the set of electronic documents (eSet) to the American trade finance bank. After completing its review of the eSet, the American bank presented the eSet to the issuing bank, China CITIC Bank. Following that transaction, China CITIC Bank accepted the eSet under the terms of the eUCP letter of credit and in turn sent the original eDocs to Wuhan XinLianChuang Plastics. Wuhan XinLianChuang then surrendered the eB/L to NYK and received their cargo at Shanghai port.
Crucially, all documents involved in the transaction were managed electronically and therefore handled as eDocs only. Electronic documents used in addition to electronic bill of lading included the notice of completeness, insurance certificate, commercial invoice, packing List, letter of credit negotiation form and the covering letter
NYK Line said the use of existing XML files and data structure meant it could populate the electronic bill of lading draft quickly, and send it with one click to Elite to verify. Once Elite confirmed the eB/L draft, its Export Documentation Team in Singapore signed and issued the eB/L upon vessel departure. Overall the line did not have to changeits process much.