IG Approves e-Title™ Solution for Paperless Trading Systems
The International Group of P&I Clubs have given their approval to the e-Title™ paperless trading system. This system is now approved along with ESS and Bolero systems which had been previously approved.
E-Title™ is a secure mechanism focusing exclusively on title transfers, complementing existing web-portal services offered by shipping lines, logistics operators and trade facilitators. The solution is supported by a legal framework to facilitate electronic exchange of Bills of Lading and waybills, removing the need for a paper Bill of Lading. Further details can be found on the company’s website – http://www.e-title.net/ The legal documentation associated with the use and operation of the e-Title™ solution is the Electronic Title User Agreement (version 1.2). This document has been extensively reviewed by the Group.
As with ESS and Bolero, Members should seek their Clubs approval prior to implementing the e-Title system. Steamship Mutual have issued their guidance on the matter and the International Group have all issued similar wording on their respective websites.
Please feel free to contact us for further guidance.
Pacifics Intermediaries & Consultants
Tel: +44 (0) 20 73750002