interoperability

  • Trafigura Leads the Way with a Groundbreaking $2.885 Billion Syndicated Facility Leveraging Electronic Bills of Lading (eBL)

    ,

    In a transformative move for global trade finance, Trafigura, in partnership with ING and 27 other lenders, has successfully executed a $2.885 billion borrowing base facility using electronic Bills of Lading (eBL) as collateral. This pioneering transaction demonstrates the growing influence of digitization in trade finance, supported by the UK’s Electronic Trade Documents Act (ETDA),… Read more

  • Driving the Future of Trade Finance: How Digital Standards are Paving the Way for Paperless Trade

    ,

    At Sibos 2024 in Beijing, industry leaders convened to discuss the accelerating digitalisation of global trade. A notable session featured Ben Arber, CEO of Complidata, in conversation with Pamela Mar, Managing Director of the Digital Standards Initiative (DSI) at the International Chamber of Commerce (ICC). Their discussion centered on the transition to paperless trade finance… Read more

  • EU Council Approves Strategic Plan to Strengthen Europe’s Digital Infrastructure and Cybersecurity

    ,

    On December 6, 2024, the Council of the European Union approved conclusions regarding the European Commission’s White Paper titled “How to master Europe’s digital infrastructure needs?” This approval underscores the EU’s commitment to advancing secure, resilient, and high-capacity digital infrastructures across member states. Key Highlights: These conclusions align with the EU’s broader objectives of achieving… Read more

  • Basics of Risk Management in Trade

    , ,

    The clearance of goods to enter a market is often considered a balance between facilitating and controlling. The latter is checking that the goods are compliant with all relevant rules and regulations, corresponding to legitimate regulatory objectives. This may include consumer health and safety, safeguarding the environment, compliance with social norms or aiming to achieve… Read more

  • UNCITRAL’s Framework for Negotiable Cargo Documents: Modernizing International Trade

    ,

    The UNCITRAL Negotiable Cargo Documents framework is designed to modernize and harmonize the legal rules governing documents used in the transport of goods, particularly in international trade. These documents, commonly known as bills of lading, play a crucial role in shipping by serving as evidence of the contract of carriage, a receipt for the goods,… Read more

  • Data (Use and Access) Bill [HL]

    ,

    A bill designed to address access to both customer and business data, this legislation aims to regulate services that involve using information to determine and confirm facts about individuals. It also focuses on the recording, sharing, and maintaining of registers concerning apparatus located in streets. Additionally, the bill outlines the management and upkeep of registers… Read more

  • The Next Era of International Trade Transactions

    ,

    Until the recent drive towards digitalisation and modernisation, the processes involved in an international end-to-end transaction could be long, cumbersome and expensive. From the shipping of goods to the payment of an invoice, the overall transaction would take place through a collection of individual, fragmented and often siloed procedures, from the issuance of paper trade… Read more

  • Overview of EU eIDAS 2.0 Regulation

    ,

    eIDAS 2.0 represents a significant upgrade to the European Union’s electronic Identification, Authentication, and Trust Services (eIDAS) regulation. This enhancement aims to refine and expand cross-border digital identity solutions and trust services, thereby allowing citizens and businesses to securely access a wide range of public and private services across the EU. By enhancing trust services… Read more

  • Indonesia’s Trade Policy Regime amidst Global Challenges

    ,

    The global trade environment is marked by geopolitical shifts, fragmenting globalization. This fragmentation poses substantial implications for emerging economies in Asia and ASEAN, including Indonesia. ASEAN economies have benefited immensely from globalization over the past four to five decades, with major progress driven by integration into the global economy. However, growing geopolitical tensions, from Ukraine… Read more

  • ICC DSI Launches Digital Trade Reliability Assessment Tool  

    ,

    A technical tool to assess the reliability of digital services or networks, launched today, will facilitate the transfer of Electronic Transferable Records (ETR) between supply chain parties. Developed by the International Chamber of Commerce (ICC)’s Digital Standards Initiative (DSI) and the Digital Governance Council (DGC) of Canada, the new assessment framework enables an entity to… Read more