Bill of Lading - The challenge
 

1. Original paper documents - The shipping industry relies heavily on the use of original paper documentation for documents like Bill of Lading. The process of handling paper documents is resource intensive, costly, slow and prone to errors.
2. Cost of courier and increased Delay - The use of original Bill of Lading paper documents mean that the original copies have to be printed by the shipping company, then couriered to the customers, incurring courier costs and additional delays to the entire transaction process.
3. Current workarounds - Currently some shipping companies give their valued customers pre-printed blank B/L where there customers can print the details and sign on behalf of the shipping company. However the shipping companies are unable to control or track what is actually printed on these forms, and who has access to the forms.
4. Unauthorized alteration and forgeries - Details on the printed Bill of Lading are easily altered, forgeries and fraud using the documents are also common. It is also common for fraud to be conducted using obtained genuine blank Bill of Lading forms printed with fraudulent information.
5. Document verification - Currently when there are discrepancies suspected in Bill of Lading documents presented, the verification process will involve cross-checking the details with various parties, sources and attempting to verify the authenticity of the paper document, all too often a resource-consuming and costly process.
6. Electronic Bill of Lading - There is a global trend towards Electronic Bill of Lading, however its global acceptance and implementation is still many years away.
   
   

Current Bill of Lading process