Lloyds Bank has become the first UK bank to join the WaveBL electronic trade documentation platform, unlocking new trade efficiencies and sustainability benefits for its clients by using electronic Bills of Lading (eBLs).
Bills of Lading are a critical document in international trade. They are issued by a carrier when a seller dispatches goods to an end customer, and act as a ‘receipt’ for the goods being shipped. Once payment – or agreement to pay at a future date – for the goods is received, the Bill of Lading is released to the buyer so they can claim the product on arrival.
