eBL Platform Interoperability

Connect your eBLs across Platforms

eBLs deliver the most value when everyone in a trade can take part. With interoperability, you can choose the eBL platform that suits your needs and still trade with counterparties who have chosen a different one. 

We believe members of the international trade community must be free to choose their preferred eBL platform(s), and be able to interact with counterparties who have not made the same choice. ICE Digital Trade is building that connected network. And we are inviting the industry, eBL platforms, carriers, traders and banks to join us. 

Why Interoperability matters

Digitizing bills of lading requires participation across the supply chain, and the benefits increase with the size of the network. Historically, eBLs have only worked if every party to a transaction had signed up to the same legal framework and was onboarded to the same platform. This "closed club" model has slowed adoption, especially in container shipping, where the network is highly fragmented. Interoperability removes that barrier, so that eBLs can move across the trade ecosystem as freely as paper. This is a prerequisite for scalable use of eBLs across the ecosystem.

Core components

4 core components are required to enable interoperability across eBL platforms:

1. Technical

Use of industry standards to ensure only 1 eBL exists and is controlled by the rightful holder at all times

  • DCSA Issue Surrender APIs v3.0
  • PINT Interoperability Standards + Control Tracking Registry (CTR)
    • GSBN currently provides CTR
  • Further CTR providers in discussion, including a US option

2. Legal

Law governing the eBL ensures the eBL is the legal equivalent to paper

  • eBLs governed by a law which recognises them as equivalent to pBLs
  • Currently available for BLs governed by UK, Singapore, Chinese and New York law
  • Working on certification to use with French law governed BLs

3. Liability

Cross-platform liability ensures the right platform bears any loss and is able to pay

  • Claims directed to the platform the user suffering loss has chosen: no need to contract with any other platform
  • Liability of $5M per incident between platform providers (ICE and IQAX)
    • Adequacy under review

4. IG Approval

Legal approach is approved by the IG

Status: in production use

Operational use

We began by connecting ICE CargoDocs with IQAX eBL, with GSBN acting as the Control Tracking Registry (CTR). We chose these partners because our networks complement each other: ICE CargoDocs brings a strong community of commodity traders and banks, while IQAX connects leading container carriers and a strong ecosystem in the APAC region.

The solution is in production use today for both open account and letter of credit flows. Carriers, corporates and banks are already transferring eBLs securely between platforms.

Watch a video on how interoperable eBLs work

What comes next

This partnership is a starting point, not the destination. Our next steps are:

  1. Connecting further eBL platforms to the network, giving users more choice of provider
     
  2. Adding at least one more CTR provider based in Europe or the US, which will increase resilience and reduce reliance on a single registry
     

Contact us to learn more about eBL interoperability and how to get involved.