Main Benefits
TradeTrust can bring benefits to the trade, finance and logistics community:
Legal certainty for electronic Transferable Documents
Singapore’s Electronic Transactions Act (ETA) amendments enable the creation and use of electronic Bills of Lading (eBLs) that are legally equivalent to paper-based Bills of Lading.
Increase efficiency, lower cost and lower risk of fraud
Risk of fraud is mitigated through the use of DLT technology to verify the authenticity and provenance of the trade documents.
US$4 billion savings annually if half of today’s shipping lines adopt eBLs – according to the Digital Container Shipping Association (DSCA).
Support innovative service offerings
Aid the convergence of physical, financial and document chains making automation of key processes possible.
How It Works
Transferable Records
Verifiable Documents
Transferable Records are trade documents that entitle the holder to claim the performance of an obligation or ownership.
Examples of transferable records typically include bills of lading, bills of exchange, promissory notes, and warehouse receipts.
See how things change from the use of TradeTrust-enabled solutions when dealing with eBL
The Exporter
This is Kevin, he is an exporter with customers in many different countries. See how he cuts down on time and cost when dealing with Blank-Endorsed BL.
Click to find out more
The Carrier
This is Lizzie and she works for a Carrier. She uses an electronic Bill-of-Lading (eBL) solution enabled by TradeTrust to issue and surrender eBLs to her clients.
Click to find out more
The Importer
This is Cara. She is an importer using TradeTrust to streamline her cargo collection process and this has benefitted her oganisation immensely.
Click to find out more
The Banker
This is Liam. He is a banker who processes trade financing applications. Find out how he managed to reduce fraud by using TradeTrust to process Blank-Endorsed BL.
Click to find out more