Casio Computer has started Japan’s first letter of credit (LC)-based exporting e-trade services on Bolero. Initially focused on the export LC transaction, this involves a number of trade documents including the bill of lading that utilises Bolero’s unique Title Registry capability.


This trade chain covers goods shipped direct from Hong Kong to Korea. Before starting with the Bolero e-trade service, NVOCC in Hong Kong would issue the bill of lading or airway bill by paper, and send the original paper-based document to Casio headquarters in Tokyo.


After receiving the bill of lading or airway bill, Casio would send these documents with the other trade documents to the bank for negotiation.


It takes a long time before the importer in Korea receives these trade documents. As a direct result the importer asks to issue a letter of guarantee to the bank for earlier collection of the goods.


Bolero’s Title Registry service enhances the credibility and safety of document exchange over the internet. Casios is now enabled to receive bill of lading securely, with high credibility, speed and reliability.


In addition Bank of Tokyo-Mitsubishi UFJ as negotiation bank and Korea Exchange Bank as LC issuing bank are also receiving these electronic trade documents with attached digital certificate security.


Using Bolero for this e-trade service, the time to collect goods is reduced by up to nine days, it claims. As a direct consequence the Korean importer no longer needs to issue a letter of guarantee.