Of the electronic money
After all, all of these persons, and more particularly the lender banks must at the same system with a neutral third trusted party TTP are connected. A TTP is necessary to queue management solutions preserve the electronic keys. The moment the first bank in the first seller paid, he wants to queue management ideas make sure he gets the only grip that and thus grip on the load. If sales of the cargo takes place in a string, there are possibly five or more banks involved that each of the TTP must be given the unique code key that grip on the and maintain the load.
If it is, then with all payments went well, the last buyer receives the unique key in the queue management solutions form of a code for which web L which key he sends to the carrier. Fits that key the lock that the carrier has always behaved, you may and the carrier must deliver the cargo to that person. If unfortunately a cargo damage, which may only person who, after all, of direct and regular holder web L has become the cargo damage claim queue management solutions with the carrier. This whole process is controlled and verified by the TTP, also the lock and its keys spends.
Bolero Bills of Lading Registry Organization was founded in. Bolero is funded by SWIFT Society for Worldwide Interlink Financial Telecommunication and TT Club a that particular liability ensures logistic operators containers transport. You get the impression that Bolero to include it developed has been very successful. Bolero occurs with respect to its queue management solutions as a TTP. But if you just read through you will come under the heading Bolero for Carriers against this text Unlike fits Initiatives, today pragmatic approach is to simply use a carrier.
Existing systems to create the bill of lading in the normal way and then convert it into an electronic bill. This simple approach HAS removed many of the queue management ideas previous barriers. What Bolero does in fact the original paper B L by using Optical Character Reading OCR to convert an electronic document attached thereto the unique Key. The last buyer who obtains this key after payment the purchase price of the key into the well can be done.
By Bolero created lock carrier stabbing order as final and adjust key delivery of queue management ideas the goods available, without the paper copy of the bill of lading to the carrier present. What happened to that paper copy happens next, the story does not tell. I think that paper copy must still be used simply for queue management solutions the customs not nearly anywhere in the world can be electronically Check for clearance, and in the unlikely event a cargo damage is on that she never made it in the world will the paper bill of lading undoubtedly a procedure be used.
