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China Everbright Bank goes live with CargoDocs

Tags
CEB
China Everbright Bank
Australia
China
ePresentation
metals
trade finance
CargoDocs
Iron Ore
steel
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Leading Chinese Banking Group, China Everbright Bank (CEB), recently completed its first ever transaction using CargoDocs, going live with our CargoDocs ePresentation solution at its Beijing Branch.

The transaction involved a cargo of Yandi Fine Iron Ore transported in bulk from Australia to China, with the CEB acting as issuing bank on behalf of its customer, a leading state-owned Steel producer in China.

A representative from CEB’s Trade Banking Department, directly involved in the recent transaction, commented: “The key merit of the system lies in the very speedy transfer of documents, while we can certainly affirm additional benefits including enhanced security, efficiency and transparency.”

ePresentation enables banks to handle transactions through electronic exchange and presentation of eDocs – including electronic Bills of Lading – instead of paper documents, allowing for efficient handling and controlled transfer of title.

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