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CargoDocs eRisk Insurance

In addition to electronic Bills of Lading (eB/Ls) being more secure than their paper counterpart, CargoDocs eB/Ls also include insurance against fraud and related risks. The same insurance cover also applies to CargoDocs electronic Warehouse Warrants (eWWs). 

Since CargoDocs electronic Bills of Lading have relevant P&I approvals, carriers remain within the terms of their P&I cover when using the solution. Notwithstanding the above, essDOCS is required to maintain insurance which covers all eB/L users as follows:

  • for eRisks with a limit of US$20 million for any one eB/L
  • for other liabilities arising under the DSUA with a limit of US$1 million

eRisks comprise of the following:

  • eFailure – risks of losses caused by the internal operation of the essDOCS Document Exchange (DocEx) including a failure which results in the misissuance or misdelivery of an eDoc or the inability to access an eDoc
  • eCrime – risks external to the operation of the essDOCS Document Exchange (DocEx) which may result in a fraudulent interaction with an eDoc, for example, hacking.

CargoDocs Insurance Booster

CargoDocs Insurance Booster allows customers to extend their current US$20 million per eB/L or eWW coverage – included as part of CargoDocs – by an additional US$5 million or US$10 million; providing a total coverage of US$25 million per eB/L and/or eWW, or US$30 million per eB/L and/or eWW accordingly.

Available to all essDOCS customers, the Insurance Booster is particularly relevant to traders in the Energy, Metals & Minerals and Agri markets as well as the banks that finance these cargos.

On the trade finance side, the Booster covers eUCP Presentations and eDocumentary Collections.

essDOCS customers can add CargoDocs Insurance Booster to their existing coverage at a flat annual fee.

Contact an essDOCS Sales Representative or your Account Manager for more information.

*CargoDocs Insurance is subject to the terms and conditions of the essDOCS Users Agreement (DSUA)