eFBL: challenges and advantages of digital
eFBL: challenges and advantages of digital
Marta Borges
Maritime Lawyer, guest lecturer, and PhD candidate
The Fiata FBL – Negotiable Multimodal Transport Bill of Lading (1992) is intended to facilitate the international exchange of goods and the legal security of commercial transactions. It should be an essential document in international trade.
It is a document specific to freight forwarding. The ICC—International Chamber of Commerce—has approved it as compliant with the UNCTAD/ICC Rules on Multimodal Transport Documents (UCP 481) and the Uniform Customs & Practice for Documentary Credits (UCP 600).
Freight forwarders are now in the driver's seat and empowered to issue eFBL documents from the comfort of their own offices. By meeting the necessary requirements for access and obtaining the open-source software, they can easily issue the document. This is made possible through a robust authentication process on a dedicated API, with immediate identity confirmation by FIATA. The document is then registered and assigned a unique QR code, ensuring its authenticity and security.
One of the eFBL's most significant advantages is its unparalleled convenience. Freight forwarders can now share the document in digital or paper format with all the parties involved in the transport. This digital sharing allows immediate access to the document, regardless of the geographical location and time at which the goods are located, thereby streamlining the international trade process.
First and foremost, given how it is being implemented, it creates greater security in international transactions and transparency for the parties involved and the information provided, guaranteeing the parties' identities, which is essential for trade. It also safeguards against fraud in international trade, protecting the sellers and buyers of goods.