FIATA & essDOCS have released the electronic FIATA Bill of Lading (eFBL), a paperless, electronic version of the FIATA Bill of Lading powered by essDOCS’ core trade facilitation solution, CargoDocs.
Developed through inputs from FIATA Association Members, the solution is designed to cater to the demands and needs of the freight forwarding industry. The eFBL enables FIATA members to digitize current paper processes involving FIATA Bills of Lading and supporting documentation.
“This is as close as you can get to plug-and-play in dealing with transport documents,” said Marco Sorgetti, Director General FIATA.
The eFBL aims to improve the flow of trade documentation, as well as reduce costs for stakeholders by increasing speed, efficiency and visibility throughout the entire trade execution process.
CargoDocs, which operates as a web-based solution, enables eFBLs to be drafted online before a FIATA member signs and issues them electronically. All actions are handled by the same parties that handle paper FIATA Bills of Lading.
Exporters can supplement the eFBL with supporting eDocs, such as commercial invoices and packing lists, which are instantly transferred within essDOCS’ online exchange to importers or their banks, who treat the eFBL with the legal equivalency of paper FBLs under L/C transactions.
Afterward, the eFBL is electronically surrendered to the designated agent, eliminating any need to courier or hand-carry documents between parties.
Following several test rounds with FIATA Association members, the eFBL is available to interested shippers and forwarders looking to implement paperless trading in their daily operations.
“This is the natural evolution of our services, which are already well established in the commodities trade,” said Alex Goulandris, CEO essDOCS.
CargoDocs is easily accessible to registered FIATA Association Members who simply login as users and access the solution using a bank-grade security token.
