Until February 2010 the Rules of all of the Group Clubs specifically exempted liabilities regarding 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 ‘normal’ paper system, meaning i.e. one using transferable paper documentation.
From 20 February 2010 liabilities related to 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 systems administered by Electronic Shipping Solutions, by Bolero International Ltd. e-titleTM solution and now Global Share S.A. edoxOnline has been added to the list of International Group approved systems.
edoxOnline provides an electronic paperless system which is backed by a legal framework to enable transfer and endorsement of electronic bills of lading, removing the necessity for a paper bill. However, there is scope to revert to paper whenever it is necessary. This is the first approved system to use Blockchain technology.
Other exclusions of cover as part of Group Club Rules relate to the carriage of cargo will still apply in respect of ESS, Bolero, E-Title and edoxOnline in the same way as for paper systems. These exclusions regard discharge at a port or place other than the port or place provided for in the contract of carriage, the issue / creation of an ante or post-dated electronic document / record, and the delivery of cargo without the production of the negotiable electronic document / record. The latter, in the case of an approved electronic trading system will mean delivery of cargo other than in accordance with the rules of that trading system.