China Zheshang Bank adopts CargoDocs
China Zheshang Bank (CZBank) recently signed up for CargoDocs ePresentation to support its corporate customers’ use of electronic presentation under eUCP Letters of Credit and eDocumentary Collections. It joins a growing number of Chinese banks adopting the essDOCS paperless trade solution.
CargoDocs will enable CZBank to handle transactions through the electronic exchange and presentation of eDocs – including electronic Bills of Lading (eB/Ls) – instead of paper documents, allowing for speedy, secure and efficient document handling and controlled transfer of title.
CZBank is the only national joint-stock commercial bank headquartered in the Chinese province of Zhejiang, playing a key role in supporting the rapid development of the region and nation. By adopting CargoDocs to digitize its trade finance documentation processes, the bank aims to significantly improve the speed and accuracy of transactions, while reducing risk and improving compliance for both itself and its corporate customers alike.