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BIMCO Panel Session- Electronic bills of lading – where are we now?
September 14 @ 2:00 pm - 3:00 pmFree
Paper bills of lading are inefficient and slow down trade. They are vulnerable to fraud and human error. Their use results in unnecessary legal and commercial risks such as relying on letters of indemnity or getting lost in transit.
The industry is increasingly using electronic bills of lading (eBLs) as it recognises the benefits and opportunities that digital transformation brings. Many of the problems associated with using paper bills of lading can be avoided by using eBLs which:
- reduce the need to use letters of indemnity, which give rise to legal and commercial risks
- provide faster delivery through more efficient processing
- reduce emissions by eliminating the need to courier paper bills.
To help further accelerate this digital transformation, the following companies have signed the 25 by 25 Pledge and will target moving at least 25% of their annual seaborne trade volume for at least one commodity using eBLs by 2025:
This BIMCO panel session will provide an update on the 25 by 25 pledge as well as an update on other relevant developments.