Commerzbank, Siemens & Fr. Meyer’s Sohn Complete eBL Proof of Concept

On July 14th, Commerzbank, Siemens, and freight forwarder Fr. Meyer’s Sohn successfully completed a proof of concept demonstrating the use of electronic bills of lading (eBLs) and digital document flows under a letter of credit arrangement. The transaction involved a German exporter and Chinese counterparts, facilitated by technology from Enigio and TradeGo, and based on standards developed by the Digital Container Shipping Association (DCSA).

The initiative aimed to explore how digital original documents, including eBLs, can be exchanged securely and efficiently across jurisdictions. While the regulatory framework in Germany allows for the use of electronic trade documents, adoption remains limited, particularly in trade finance. This pilot showcased the potential of digital solutions to reduce processing times, mitigate fraud risks, and support greater efficiency in international trade workflows.

The participants hope the successful demonstration will contribute to raising awareness and accelerating the use of electronic documents in trade.

Read more via the following links:

• https://www.tradefinanceglobal.com/posts/germany-china-digital-trade-test-executed-between-siemens-commerzbank-and-fms/

• https://www.fms-logistics.com/en/news/article/siemens-commerzbank-and-fr-meyers-sohn-chart-the-course-1/