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Product overview
Covantis eBL is our groundbreaking platform that empowers companies to issue and exchange electronic bills of lading (eBL) alongside other electronic documents, and supports real-time collaboration between all stakeholders, connecting exporters, charterers, buyers, agents, vessel owners and banks in a secure ecosystem. Built in partnership with Secro, our platform is approved by the International Group of P&I Clubs (IGP&I). Covantis eBL meets the highest industry standards for security and reliability.
As the legal framework evolved with UK law recognizing electronic documents, many Phytosanitary Certificates, Quality Certificates, and Certificates of Origin transitioned to digital formats. With many authorities now accepting electronic and digital documents for customs clearance, we partnered with Secro to introduce the Covantis eBL solution to the agri industry. We are confident that through this partnership we will once and for all make the change from paper to electronic a reality for the Agri industry.
Industry challenges
Time-consuming manual processes and delays
The trade industry continues to rely heavily on outdated and inefficient processes for creating and exchanging physical shipping documents and Bills of Lading (BLs) , leading to significant delays and operational inefficiencies. The manual handling of paper-based documents often leads to delays create bottlenecks that hinder timely payments, increase working capital requirements, and slow down trade operations overall.
Risks and Financial Consequences
The reliance on physical documents like Bills of Lading (BLs) creates significant inefficiencies and risks. These documents require ‘travel time’ and are prone to mishandling, fraud and forgery. To mitigate these risks traders and vessel owners fall back to Letters of Indemnity (LOIs), taking on additional risk. The loss of documents can also expose stakeholders to penalties like demurrage and detention fees, highlighting the urgent need for secure, digital alternatives.
Environmental Impact and Industry Vulnerability
Beyond financial and operational challenges, these processes also carry environmental consequences. The reliance on physical documents contributes to unnecessary paper waste, reinforcing an unsustainable approach to modern trade. By persisting with archaic practices, the industry not only incurs avoidable costs but also exposes itself to heightened risks of fraud, inefficiency, and environmental harm, underscoring the urgent need for digital transformation.
Key Features
Covantis eBL transforms how trade documents are managed in the supply chain. Electronic Bills of Lading (eBLs) can be presented alongside digital copies of other shipping documents. Using the platform participants can:
