Strengthen your cargo operations by digitizing documentation processes and expand logistics business to new frontiers.
1 Digital Trade
Discover how digitalisation is overcoming complex business challenges and driving cutting-edge innovation in global trade.
Electronic Trade Documents
Evertrade integrates leading industry standards into its platform to provide logistics operators with a seamless way to streamline transport documentation processes.
Most cross-border transactions rely on the exchange of multiple documents and hundreds of papers copies among various stakeholders involved in global trade. The maritime transport industry has been driven by these practices for many years. However, recent global disruptions have intensified the necessity to build mechanisms that allow seamless transactions while maintaining the validity of goods (merchandise) titles.
Freight forwarders and Non-Vessel Operating Common Carriers (NVOCC) play a pivotal role in the international logistics industry, representing their customers at numerous origins and destinations around the world. They ensure that goods are delivered under agreed terms and manage all documentation processes related to maritime transport.
Global Standards & Compliance
Several international organizations have participated in developing new practices and guidelines to harmonize electronic commerce and trade. This initiative has been spearheaded with the aim of creating more resilient supply chains that can better respond to global disruptions.
United Nations
“The United Nations Commission on International Trade Law (UNCITRAL) plays a key role in developing and maintaining a robust cross-border legal framework for the facilitation of international trade and investment”.
In 2017, the Model of Law on Electronic Transferable Records (MLETR) was published with the aims to enable the legal use of electronic transferable records both domestically and across borders. Their availability in electronic form may be greatly beneficial for facilitating electronic commerce by, for example, improving speed and security of transmission, permitting the reuse of data and automating certain transactions through "smart contracts".
International Chamber of Commerce (ICC)
The ICC Digital Standards Initiative (DSI) aims to accelerate the development of a globally harmonized, digitized trade environment. It operates in accordance with the management standards of the International Chamber of Commerce and is guided by a Governance Board comprising leaders from the ICC, Enterprise Singapore, the Asian Development Bank, the World Trade Organization, and the World Customs Organization.
Shipment Management
A fully automated shipping process is essential for building a reliable trade documentation system. By ensuring seamless information flow between parties within a structured model of data, logistics operations can enhance monitoring practices, respond more swiftly to disruptions, and anticipate and resolve potential issues through advanced data analysis.
Evertrade has built its infrastructure in alignment with the Digital Container Shipping Association (DCSA) standards. By adhering to these guidelines, we are helping to lay the foundation for a harmonized container shipping industry that aims to create interoperability among the many stakeholders involved in digital trade. We firmly believe that the DCSA's efforts are driving the next generation of business in international supply chains, accelerating innovation with unprecedented agility, and fostering sustainable growth.
Resources
Booking Process
A standardized collection of API endpoints allows for the streamlining of booking requests, receipt of booking confirmations from carriers, and also the ability to amend comfirmed bookings. These processes work together to support the seamless forwarding of Shipping instructions.
Transport Documents
Based on the shipping instructions, the carrier will send a draft Bill of Lading to the shippers, which may be systematically reviewed for subsequent approval. At this stage, the platform enables you to monitor the status of transport documents and stay informed about the final Bill of Lading issuance.
Shipping Instruction
After a booking confirmation has been received, the shipper or freight forwarder can submits a Shipping Instruction (SI) to the carrier. This document provides detailed information about the cargo, including the consignee, notify party, cargo description, weight, dimensions, and any special handling requirements.
Track & Trace
After a booking is confirmed, carriers will stream events to your system, providing real-time updates on your shipment, transport documents, and equipment. This includes notifications for key events such as gate in, gate out, depot receipt, as well as vessel departures and arrivals.
2 Trade Finances
Driving liquidity to your partners throughout a blockchain based Documentary Credit process
Documentary Credit
Cargo operations can play a crucial role in this ecosystem by serving as a ‘Digital Trade Hub’, seamlessly connecting financial institutions with applicants and beneficiaries involved in international trade.
Trade finances have significantly supported global trade for centuries. They encompass a collection of financial instruments that secure payments for shipped goods, mitigate fraud risks, and optimize working capital for businesses involved in the cross-border market.
Moreover small and medium enterprises (SMEs) are now seeking access to products like letters of credit to expand in international trade. Furthermore, the digitalization of key trade documents promises revolutionizing the way businesses in the least developed countries access to trade finances, fueling development and accelerating economic growth.
Regulatory Framework
eUCP600
Digitalisation allows banks to streamline the process of providing trade finance, reducing the friction traditionally associated with cross-border transactions. As a result, businesses can access the financial resources they need more easily, enabling them to expand their operations globally with greater agility and confidence. This not only drives growth for the businesses themselves but also enhances the bank’s role as a facilitator of global trade, fostering long-term relationships and opening new avenues for innovation and collaboration in the digital economy.
To ensure that the legal and operational aspects of electronic documents are recognized with the same level of confidence and validity as traditional paper documents, Evertrade has been developed in compliance with the electronic version of the Uniform Customs and Practice for Documentary Credits (eUCP 600). This electronic addendum to the UCP 600—established by the International Chamber of Commerce (ICC) to govern the issuance and handling of letters of credit—ensures that Evertrade operates within a globally recognized framework for secure and efficient trade finance.