The International Group of P&I Clubs approved the TradeLens eBL system, a digital supply chain system using blockchain technology for the issue, transfer, and surrender of original bills of lading.
Liabilities arising in respect of the carriage of cargo under paperless trading systems first started to be covered on 20 February 2010, provided that the system had first been approved by the IG Clubs.
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. Starting from 24 March 2021, TradeLens has also been added to the list of IG-approved system providers.
TradeLens is a blockchain-enabled digital supply chain system, jointly developed by Danish shipping giant Maersk and technology firm IBM, which provides a process for the issue, transfer and surrender of original bills of lading.
More specifically, 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 the container shipment is ready to be received, the consignee can surrender back to the carrier for cargo release either digitally or, where required, revert to paper with carrier support.
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The legal documentation and terms of use associated with the use and operation of TradeLens are held in the TradeLens eBL Rulebook and Service Description dated 24 February 2021. That documentation has been reviewed and approved by the Group.
Other exclusions of cover under Group Club Rules relating to the carriage of cargo will, of course, continue to apply in respect of all the approved providers in the same way as for paper systems.
These exclusions include 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, which 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,
…IG Clubs explained.
Several shipping organizations and ports have joined Tradelens so far, including the two shipping giants, French CMA CGM and Geneva-based MSC Mediterranean Shipping Company (MSC).
