IQAX eBL

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Update & News


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IQAX obtain TradeReady Verification to MLETR: Strengthened and Reliable Solution
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IQAX’s eBL Integration on CargoWise: A Game-Changer for Freight Forwarders
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Cross-Platform eBLs become a reality as OOCL and a major oil and gas company go live

Feature & Use Case


 

Authenticated and original B/Ls

Through our blockchain platform, we can ensure authenticity and reliability by accessing a single source of truth with document legitimacy and security. Records are immutable and traceable, preventing documents from being lost or tampered with.

One-click title transfer

Transfer B/Ls securely and entirely online to save costs and operate more efficiently by removing courier costs, avoiding printing on paper and reducing the risk of detention and demurrage charges due to delayed title transfers. Enjoy lower costs and higher efficiency.

Digitized surrender accelerates cargo delivery

There is no need to physically courier documents, gaining efficiencies in delivery with faster title transfer for cargo release and transfer of ownership which improves delivery efficiency.

Full visibility

Track cargo movement details alongside the B/L transfer history and bank processing to enable a shared view among all parties.

IQAX eBL is an intelligence solution that connects the entire industrial chain including international finance, international trade and international shipping. Contact us to get more details.

eBL General Info

There are numerous benefits of using eBL, including prevention of document forgery, reduced paper consumption, lower carbon emissions, cost savings, faster processing, and a transparent BL trading process.

A seaway bill is a non-negotiable document that lacks effective cargo control between traders. It poses risks such as unauthorized cargo delivery. In contrast, IQAX eBL is essentially an original bill of lading built on blockchain technology, providing secure and traceable ownership transfer that enables efficient titleship management.

IQAX eBL Overview

Yes. IQAX eBL obtained approval from the IG P&I Club in June 2022, and the ebl issued by IQAX eBL holds an equivalent recognition to the traditional paper-based Bill of Lading. Our terms and conditions, IQAX eBL Services Terms and Conditions, have been reviewed and approved by the Group.

IQAX eBL supports the original bill of lading (BL) in both straight and negotiable eBL types.

Security is a critical priority of the IQAX eBL and we have implemented various measures which include; obtaining ISO/IEC 27001:2013 certification, implementing data encryption, enforcing identity and access management and maintaining high availability.

No, only the designated recipient can access designated eBL data,  information remains secure and private.

All eBL records on the IQAX platform are securely stored in accordance with the paper BL requirements and security policy, which is a period of 10 years starting from the issuance of the eBL. While the records are stored, it's important to note that they may not always be displayed in the user interface.

IQAX eBL only charges the carriers at present. Users are not subject to any fees. However, carriers may impose charges for certain actions such as requests for amendments or converting eBLs to paper BLs. Users may contact the corresponding carriers for further details.

IQAX eBL Usage

No setup is required for using IQAX eBL. It is a web-based application and customers only need to register for an IQAX eBL account to access the platform.

All parties involved in eBL transfers need to register for an IQAX eBL account. After registration, users will receive an activation email and must activate their accounts within 7 days.

IQAX eBL is a multi-carrier application which supports one user account to be used across multiple carriers. To enable a new carrier, you can contact IQAX customer services (customerservices@iqax.com) and the corresponding carrier for assistance. Once the access is activated, you will be able to view and manage eBL's for all these carriers under the same IQAX eBL account.

In IQAX eBL, company administrator is entitled to add or remove users and manage user permissions for your company.

Yes, users of IQAX eBL can upload related trading documents and attach them to the particular eBL. These documents will be transferred along with the eBL.

Yes, users of IQAX eBL can request to convert eBL to Paper BL when they hold the ownership and custody. Once the users submit the request, it will be sent to the Carrier who will handle this request via offline process.

Yes, users of IQAX eBL can request amendments to the eBL when they hold the ownership and custody. Once the users submit the request, it will be sent to the Carrier, who will handle this request via offline process.

Yes, users of IQAX eBL (excluding the shipper and it's agent) can request the surrender of the eBL for delivery when they hold the titleship and custody. Once the users submit the request, it will be sent to the Carrier who will handle this request via offline process.

Yes, IQAX eBL provides video tutorials within the application that users can refer to for assistance and to understand the platform's features and usage.

If you need assistance with IQAX eBL, you can contact the IQAX customer services team 24/7 at customerservices@iqax.com.