e-Bills of Lading: Another Offer
One more key piece of news that is worth mentioning is that BIMCO alongside with International Chamber of Commerce and other key stakeholders are planning to accelerate digitalisation in the shipping business by adopting electronic bills of lading.
According to the words of Grant Hunter, head of contracts and clauses at BIMCO, in order to digitally transform shipping industry, it is of utmost importance to enact a globally accepted standard for electronic bills of ladings.
BIMCO is supposed to be the main player at this initiative as it is going to develop electronic bills of lading standard for the dry and liquid bulk sectors. Afterwards BIMCO is planning to encourage electronic bills of lading acceptance and adoption by insurers, banks, regulators and carriers.
BIMCO has a longstanding experience in this field and is widely known to all the players of this branch of market due to its existing contributions, i.e. paper bills of lading such as CONGENBILL and CONLINEBILL.
According to the BIMCO official website, electronic bills of lading will be entirely consistent with the UN/CEFACT Multimodal Reference Data in order to deliver smooth and transparent electronic bills of lading transactions across international borders.
In addition, the Digital Container Shipping Association as it is said will be contributing to development of electronic bill of lading standard alongside with BIMCO.
Source: Interlegal, https://interlegal.com.ua