Electronic (Paperless) Trading－IQAX Limited (IQAX eBL) 10 June 2022 No.22-004 Tweet Download PDF (275KB) This circular informs Members of the approval by the International Group of P&I Clubs (the Group) of the IQAX eBL system.   Members may recall, as reported in our circular No.20-025 dated 29 March 2021, 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 EssDOCS, by Bolero International Ltd (more specifically the Rulebook/Operating procedures September 1999), E-TITLE, edoxOnline, Cargo X, WAVE, TradeLens (TradeLens eBL), and now IQAX Limited has been added to the list of IG approved system providers.   IQAX eBL is a blockchain enabled system developed and owned by IQAX Limited, a Hong Kong company. As a part of COSCO SHIPPING Group, IQAX Limited is a global information technology company that provides intelligent and digital transformation solutions using blockchain for enterprises in the logistics ecosystem. The system provides access to real-time and traceable trade status of an electronic bill of lading and cargo transportation with a focus on digitalizing the issuance, transfer and management of ocean bills of lading. It offers paperless solutions to cargo owners, cargo forwarders, ocean carriers, banks and other trade participants. Further details can be found on the company’s website – （ https://www.iqax.com/en/solutions/ebl/ ）.   The legal documentation and terms of use associated wi