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BHP Billiton and Cargill have shifted an entire bulk trade and payment transaction into a first time four-corner bank payment obligation with ANZ, Westpac, and an essDocs electronic bill of lading.
BHP Billiton and Xiangguang Copper have transacted a first of a kind back-to-back electronic letter of credit over Bolero, shaving 20 days off a typical transaction.
Cargill and BHP Billiton have run a series of electronic-document presentations through Electronic Shipping Solutions (ESS) confirming letters of credit between RBS and Westpac.
Cargill is increasing it use of electronic bills of lading [E B/Ls] to include agricultural shipments from South America. It also has designs for usage in Asia.
Indicator of confidence in trade finance is modestly up in Asia, according to a recent study commissioned by HSBC, but it’s debatable how useful the index is.