pi_circular Compliance & regulation Shipowners' Club
Emergency Contact IG Circular: Update on Electronic (Paperless) Trading Home Latest updates News IG Circular: Update on Electronic (Paperless) Trading 29 Mar 2021 Download Sign up for alerts Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platform), CargoX, WAVE (WAVE Application) and TradeLens (TradeLens eBL) This circular informs Members of the approval by the International Group of P&I Clubs (the Group) of the TradeLens eBL system. Members may recall, as reported in IG Circular: Electronic (paperless) trading , that, until February 2010, the Rules of all of the Group Clubs specifically excluded liabilities in respect of the carriage of cargo under all electronic, i.e. paperless trading, systems to the extent that the liabilities under such systems would not have arisen under a paper system i.e. one using transferable paper documentation. Since 20 February 2010 liabilities arising in respect of the carriage of cargo under such paperless trading systems were covered, provided that the system had first been approved by the Group. Since then the Group has approved electronic i.e. paperless systems administered by Electronic Shipping Solutions (now known as essdocs), by Bolero International Ltd (more specifically the Rulebook/Operating procedures September 1999), E-Title, edoxOnline, CargoX, WAVE and from 24 March 2021 TradeLens has been added to the list of IG approved system providers. TradeLens is a blockchain enabled digital supply chain system jointly developed by Maersk and IBM. The system provides a process for the issue, transfer and surrender of original bills of lading. Using blockchain technology, the TradeLens eBL is issued digitally by carriers to a shipper as a structured document. The issuance is recorded, and an identifier of the document is saved to the TradeLens blockchain. The shipper can view the issued eBL in the platform, and when ready, instantly transfer it. When
IG Circular: Update on Electronic (Paperless) Trading
Shipowners' Club
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