WAVE BL, the market leader in blockchain-powered trade, announced today that Leschaco has chosen WAVE BL’s platform for issuing, handling, and transferring its HBLs electronically.
With the shipping industry moving from paper-based to electronic trade documents, many logistics enterprises, included Leschaco – a global logistics service provider with more than 140 years of experience, have decided to digitize its House Bill of Lading (HBL) transactions. By selecting WAVE BL, all parties involved in the process are connected to a single, unified network. Issuing eBLs only takes minutes, and entire document transactions are now completed in hours instead of weeks.
In a typical digital HBL transaction, Leschaco receives a Master Bill of Lading (MBL) on the WAVE BL platform and then issues multiple House Bills of Lading (HBLs) to each exporter in the transaction. These, in turn, receive their HBLs and transfer possession to the importers. Each importer surrenders its HBL to Leschaco, and Leschaco surrenders the MBL.
Because each eBL transfer is performed digitally within minutes on the WAVE BL platform, entire document transactions can be completed in hours rather than the multiple weeks that paper-based transactions can require.
Noam Rosenfeld, CEO at WAVE BL, added: ” Leschaco’s use of electronic HBLs that are issued by our platform is an exciting milestone for both companies. With the industry moving to digital trade documents, we are proud to offer a solution that’s easy to use and tailored to the industry’s latest needs”.
Reported by Diego @WeDo, 2023-01-27
