CN

Rising e-Bill use prompts new clause

Time：2014-05-21 Browse：142 Author：RISINGSUN
Working closely with three major dry cargo charterers, Cargill, BHP Billiton and Rio Tinto, BIMCO has developed and published a charter party clause that specifically addresses the use of electronic bills of lading. In recent years the technical, legal and financial infrastructure necessary for the widespread adoption of e-Bills has developed sufficiently to herald what BIMCO believes will be a new era for electronic documentation. According to Grant Hunter, Chief Officer Legal and Contractual Affairs, "Many charterers are pressing for the wider use of electronic bills of lading following a number of successful pilot studies in selected trades in the past few years. We have been pleased to respond to this development by working together with charterers, owners and systems providers to create a tailor-made charter party clause". There are two platforms at the forefront of developments in e-Bill systems - essDOCS and Bolero - both of which have been approved by the International Group of P&I Clubs as well as P&I Clubs outside the group.

The use of e-Bills offers benefits both to charterers and owners in streamlining the documentation process and reducing the risk of fraud. The purpose of the new Electronic Bills of Lading Clause is to provide a contractual agreement to permit the use by charterers of the essDOCS and Bolero systems for bills of lading, waybills and delivery orders. The clause effectively confers on e-Bills the same status as paper bills of lading under the terms of the charter party. Normal P&I liabilities are covered by the clubs to the same extent when using e-Bills as their paper equivalent.

A Special Circular containing the full wording of the Electronic Bills of Lading Clause with an accompanying explanatory note can be downloaded by following the link below. The Clause can also be downloaded free of charge from the Chartering/Clauses section of the BIMCO website and also from within the Clause Manager of IDEA?2.