• International Commerce and Information Review
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• v.7 no.1
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• pp.171-194
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• 2005

The CMI Rules for Electronic Bills of Lading were drafted by the Comite Maritime International(CMI) and related specifically to EDI transfers of negotiable bills of lading. The CMI Rules are contractual in nature and the application of the CMI Rules is strictly voluntary. The method adopted in the CMI Rules to enable negotiation of the rights to cargo in a controlled method is based on the introduction of the ‘Private Key’. The Bolero service will be governed by a multilateral contract called the Bolero Rule Book which specifies the rights and responsibilities of Bolero and its users. The Title Registry and Bolero Bill of Lading provide a fully functional equivalent to the paper bill of lading. The Bolero Bill of Lading can be created, transferred, amended, and surrendered by way of designating to order party, blank endorsement, refusal by the transferee etc. In Japan, through TEDI Project, the RSP Model is introduced as e-trade solution like Bolero's Solution. The RSP Model Solution will be furnished through TC(Trade Chain) Server and RSP(Repository Service Provider) Server. The purpose of this paper is to analyze comparatively the CMI Rules and Bolero Bill of Lading and RSP Model of TEDI and to find the implications in this case study for quick introduction of electronic Bill of Lading.

• The Journal of Information Technology
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• v.4 no.2
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• pp.1-23
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• 2001

The purpose of this paper is to study the send and receive of the Message in the Bolero System. Bolero System is the business processes and methods, together with the digital information system, which are provided by Bolero International for communicating Messages and Documents and facilitating business transactions, as well as the Bolero Rulebook and Operating Rules governing their use. The advantage of bolero.net include speed, cost and efficiency. First, bolero.net moves cirtical information and transactions more quickly than paper can move. Second, a message costs much less to transmit through bolero.net than via couriers and other paper means. Third, because bolero.net logs and tracks all transactions centrally, less data gets lost and fewer data entry errors occur. Bolero International is the certifier for all certificates used in the Bolero System at present. It takes significant responsibility and liability for the certificates that it issues in each Operational Service Contract. In the future, Bolero International may devolve the task of serving as certifier to one or more other qualified institutions.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.14
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• pp.177-218
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• 2000

Global Electronic Trading means that trading partners trade each other via Global Electronic Trading Network, that is, global business to business electronic commerce. Recently, where the cargo arrives ahead of the B/L, the importer cannot take delivery of the cargo without the B/L. This situation is referred to as the B/L dilemma. But the BOLERO system will resolve this B/L dilemma. Bolero Project is developing a cross industry utility platform for the secure, electronic transfer of commercial trade information world wide. After the successful testing of an original pilot project, The Bolero Association was formed in 1995 by a group of interested cross industry companies. As a joint venture between SWIFT and TT Club, bolero.net is changing the way the world trades by providing a web-based, paperless mode of commerce that is designed to become a global standard. Bolero International Limited published the first edition of Bolero Rulebook in 1999. The Bolero Rulebook as amended from time to time, governing the relationship between Users and their rights and obligations arising from the Bolero system. The Bolero service will be governed by a multilateral contract called the Bolero Rule Book which specifies the rights and responsibilities of Bolero and its users. The Title Registry and Bolero Bill of Lading provide a fully functional equivalent to the paper bill of lading. The Bolero Bill of Lading can be created, transferred, amended, and surrendered by way of designating to order party, blank endorsement, refusal by the transferee etc. Thus, this study deals with the functions of Bolero Bill of Lading and the problems and solutions in the Bolero Bill of Lading in point of definitions and operation under the Bolero Rulebook.

• International Commerce and Information Review
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• v.6 no.3
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• pp.321-349
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• 2004

Bolero Project initially had the support of TEDIS, and now is a joint-venture between SWIFT and IT Club. After the successful testing of an original pilot project, The Bolero Association was formed in 1995 by a group of interested cross industry companies. A Bolero Bill of Lading replicates the basic functions of a paper-based bill of lading via title registry service and core messaging platform. A Bolero Bill of Lading consists of BBL Text and Title Registry Record. A Tittle Registry Record carries out the function of a document of title and a BBL may be transferred by changing the roles of users in this Title Registry Record. TEDI Project had been conducted from the April 1999 to the September 2000 on the basis of the EDEN Project(Dec.97- Mar. 1999) and International Trade Guidances Project (Nov. 1998-Mar. 1999). Through TEDI Project, the RSP Model was introduced as e-trade solution like Bolero's Solution. The RSP Model Solution will be furnished through TC (Trade Chain) Server and RSP(Repository Service Provider) Server. The purpose of this paper is to study the problems and solutions in the pilot test of electronic Bill of Lading using TEDI's RSP and to promote the introduction of electronic Bill of Lading.

• The Journal of Society for e-Business Studies
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• v.7 no.1
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• pp.187-206
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• 2002

The purpose of this study is to review the process for the trade settlement system between all parties involved in the commercial transaction under SURF System. SURF application is the latest value added service from bolero.net and a fully automated documentary settlement system. It extends bolero.net's capability to enable trade transactions by providing a delivery versus payment system. It has been designed as a standard, shared, infrastructure component for handling trade settlement within an electronic environment to keep step with the operation of electronic Bolero bill of Lading. It exploits the services provided by the Bolero Core Messaging Platform - secure, guaranteed transactions based on boleroXML standards to provide document compliance services with optional bank guarantees. So, SURF system can automatically check all commonly used trade documents such as commercial invoices, bills of lading and certificates of weight and analysis, etc and supports a full range of settlement options including Open Account, Documentary Collections, Documentary Credit. 58 have key features as follows, ① automatic document compliance checking, ② integrated with the Title Registry, ③ supports various forms of vender financing, ④ governed by a set of legally binding rules, ⑤ fully prepared for Straight-Through-Processing, ⑥ Enabled compliance with UCP 500.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.30
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• pp.27-58
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• 2006

The purpose of this study is to identify key obstacles to the adoption of electronic bill of lading and to suggest an effective way to promote the utilization of electronic bill of lading in international trade field. This study finds that all the respondants have not used 'true' electronic bill of lading that is issued and distributed electronically, and most of them agreed the needs of e-B/L adoption, but their intentions to adopt e-B/L remain very low in the present situation. Five obstacles to the adoption of e-B/L were derived from an explanatory factor analysis: 'integration' factor, 'law institution' factor, 'usability' factor, 'economic efficiency' factor, and 'security' factor. Solutions to promote the utilization of e-B/L in international trade field are as follows; Firstly, to endow e-B/L with the legal force through amending relevant laws including the commercial law. Secondly, to conclude the relevant international agreement, and to carry out joint projects between nations are needed. Thirdly, to conduct publicity campaigns is required to increase the understanding of the concepts and benefits of e-B/L to all concerned parties. Fourthly, stable and reliable system must be constructed with high level security. Fifthly, to readjust the service fee of e-B/L system to a realistic level is to be needed in order for user companies to use e-B/L service.

• International Commerce and Information Review
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• v.6 no.1
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• pp.129-153
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• 2004

In order to succeed in e-Trade Project in Korea, the related parties endeavor to introduce the e-title registry model such as Bolero model(Title Registry Model) and TEDI model (Repository Service Provider Model). Prior to mentioning the Model of e-Title Registry, desirable Global e-Trade Platform is the platform connecting Global e-Trade Platforms in each country and Bolero's Core Messaging Platform and e-Title Registry must be established in each country. Each e-Title Registry must be connected with another registry. Like Korea, Recognized Electronic Document Repository must be established as proxy for preserving, attesting, carrying out sending and receiving electronic document to prevent from disputes between parties and to carry out notarizing electronic documents and related transaction. The purpose of this paper is to promote the introduction of e-Title Registry in the e-Trade and to streamline the procedures of the electronic bill of lading.

• International Commerce and Information Review
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• v.2 no.1
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• pp.67-95
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• 2000

Owing to the Boero Service, Global Trading will be materialized as international Business to Business E-Commerce. There are three principles in the letter of credit transaction, that is to say, independence and abstraction, document dealing, strict compliance. In the electronic letter of credit, these principles are called as independence and abstraction, electronic document dealing, strict compliance. As a joint venture between SWIFT and TT Club, bolero.net is changing the way the world trades by providing a web-based, paperless mode of commerce that is designed to become a global standard. As bolero.net supplies the service of the title registry resolves the problem of Electronic Bill of Lading, the electronic letter of credit will be easily introduced. Thus, this study deals with the Nature of the Electronic Letter of Credit Transaction and the Presentation of the Documents, in particular, the Bolero Bill of Lading.

• International Commerce and Information Review
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• v.9 no.1
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• pp.149-168
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• 2007

e-Trade Payment system has been transformed by quickly and effectively. The e-trade Payment system such as TradeCard System, Bolero Surf, Identrus Eleanor and e-Escrow and e-letter of Credit issued by SWIFT System enable partly sellers, buyers and service providers. This paper studies for SWIFT, Surf, TradeCard, Eleanor, e-Escrow as international trade payment, As reason following : The First, Bolero is a neutral secure platform enabling paperless trading between exporter, importer, and their logistics service and bank partners, insurance company. The Second, TradeCard is to manage procurement-to-payment worldwide, that is exporter, importer and connected partners, paperless platform. The Third, Identrus is the global leader in trusted identity solutions, recognized by global financial institutions, commercial organizations and bank partners around the world. The Forth, Escrow payment have effect to L/C issue and enter into electronic contracts in internet bank. Trader practice use Escrow Bank as the same bank that rules to Issuing Bank and Advising Bank and payment, acceptance. This paper of these electronic payment have studies new international trade payment to approach such as eUCP rules and TradeCard System, Surf of bolero, eleanor of Identrus, SWIFT.

• Management & Information Systems Review
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• v.14
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• pp.151-180
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• 2004

Owing to the digital revolution, Internet Commerce and Electronic commerce, revolutionize the way of doing business and making payment. The entrance of the Internet has a prominent for spread of Electronic Commerce and those phenomenons will result in paperless trading and cashless trade. By virtue of Internet, an increasing share of business transactions occurs online. Electronic payment is essential for the smooth progress of the electronic commerce as electronic payment plays the important role in the electronic commerce, that is, the value transfer restyling from the electronic commerce. Traditionally international settlement systems such as letters of credits, remittance and documentary collections operated as important and poplar method of payment, Now, information technology has made it possible to pay for the sale of goods and services over the internet. In international trade, there are service providers (bolero, TradeCard, BeXcom) to settle payment electronically through the Internet. The purpose of this study is to Conduct comparative analysis with approach manner functional respect systematic respect, role. It is shown which the Electronic payment system is better. In this study, the author attempts to find the problems is (bolero, TradeCard, BeXcom) and solutions in switching from the documentary payment system to the electronic one. This conclusion of this study can be summarized as followings. In resoect of the law, bolero should seek to prevert the users from being treated unfairly due to multilateral agreement on Rulebook. TradeCard, BeXcom do not have the proper law that users are governed. so far as the practice problems concerned, stability of computer's operation and security of message interchange should be warranted and improved continuously. Through the standardization of the electronic document and the development of software, the examination of the shipping occuments must be done automatically. Bolero should induce more banks to take part in Bolero, and make the carrier the cost and time in managing the traditional document which will be used for the time being. In respect of information technology and security, to deduce the risk in the electronic settlement system and positively uses the global authentication guideline(Identrus).