WaveBL is a digital platform using proprietary blockchain technology to electronically transfer trade documents. It enables the instant, encrypted, and authenticated transfer of electronic Bills of Lading and related trade documents. The platform is designed to meet the needs of all parties involved in trade, including Ocean carriers, shippers, consignees, freight forwarders, agents, and banks.
An eBL, or electronic bill of lading, also known as an electronic BoL or B/L, is a digital version of the traditional paper-based bill of lading. It serves as evidence of the contract of carriage, receipt of goods, and document of title to the goods.
Traditional paper-based logistics processes can be slow, inefficient, and prone to errors. Switching to electronic bills of lading (eBLs) enables a streamlined process with reduced risk and increased efficiency. With eBLs, transfer time is reduced to minutes, and it aligns with the digital transformation in the trade industry.
WaveBL supports all types of trade documents that are part of the trade process, including Original, Master and House Bills of Lading, certificates, and other documents required for trade and trade finance. To learn more, click here.
Yes, WaveBL’s solution complies with applicable industry standards and global trade regulations, including the IGP&I, DCSA, IFTA, ICC, UNCITRAL, and ISO 27017.
It is important to know that the front and back of an eBL look exactly the same as a paper BL. The only difference is the additional text “Issued electronically on WaveBL”, which is automatically added to the issued BLs for legal reasons.
You can expand your network by onboarding additional partners using the most innovative and easy-to-use WaveBL’s onboarding features. Contact us to learn more.
Yes, an eBL issued on WaveBL is legally recognized and carries the same significance as a traditional paper-based Bill of Lading. WaveBL’s electronic documents comply with the requirements of various international regulations and conventions, such as the UNCITRAL Model Law on Electronic Transferable Records and the Rotterdam Rules. The eBL issued on WaveBL includes all the necessary information and functionalities required for trade and trade finance, ensuring smooth transactions and legal validity.
WaveBL’s platform eliminates the need for physical transfers and manual tasks involved in paper-based processes. Transactions with Wave eBL take approximately 8 minutes, whereas a traditional paper-based process can take 10-14 days.
WAVE BL supports all types of documents including all Bills, Certificates and other documents required for trade and trade finance.
Yes. WAVE BL mirrors the business process that the industry is used to. Amending a document over the WAVE BL network works exactly the same as it would with a paper document — but much faster.
WAVE BL enables the exchange of all documents for all purposes. Documentary credit, collections and receivables are just a few examples of the trade finance tools supported by our network.
Yes. When they first activate the WAVE BL application, users generate their own electronic signatures. These are used to sign, endorse, add signed comments to, and surrender electronic documents.
WAVE BL uses blockchain technology to let parties track and manage the originality, title and transaction history of the documents they send and receive via our network. The network’s decentralized architecture, which blockchain enables, ensures that any party holding the possession or title of a document has the same level of control as they would with a paper document.
Yes, you can. Ocean carriers, beneficial cargo owners, freight forwarders, NVOCCs, banking institutions, agents, business units, etc. all use the WaveBL platform.
WaveBL provides a trusted multi-carrier platform that fosters trust and collaboration. All issued and transferred eBLs on the WaveBL platform are verified and authenticated, enhancing transparency and efficiency in global trade.
WaveBL provides 24/7 global support as well as onboarding assistance in English, Spanish, Chinese, French, Portuguese, Hindi, German, Korean, and Hebrew. WaveBL assists through the entire Wave eBL experience, from onboarding to usage. You can reach out to support@wavebl.com for any assistance.
WaveBL is the largest eBL issuer working with all the trade parties in over 100 countries in any scale. By using WaveBL, you can experience faster and safer global trade, eliminate the need to wait for paper documentation, reduce costs, errors, and disputes, and contribute to sustainability by reducing paper usage and carbon emissions.
Yes, by connecting with a broader range of trade parties, you can access more business opportunities, enhance collaboration, and streamline your trade processes. Expanding your network allows for greater flexibility, improved access to trade partners, and potential growth opportunities.
WaveBL guarantees trust through its patented blockchain-based technology. With over 100 countries and the support of major shipping lines such as MSC, ZIM, ONE, and Hapag Lloyd, WaveBL is a proven and trusted solution that eliminates the risks of forgery, loss, or theft.
Yes, they are. When they first activate the WaveBL application, users generate their own electronic signatures. These are used to sign, endorse, add signed comments to, and surrender electronic documents.
Yes, WaveBL collaborates with other eBL platforms to ensure interoperability. This means that WaveBL allows business partners to transfer eBLs between trade partners using different platforms, facilitating seamless communication and document exchange.
LightWave is our app to help you take the most common eBL actions in a fast and simple way. It allows for LightWave, the feature for streamlining your eBL actions, regardless if you are a shipper or consignee. With just a few clicks, you can open, send, amend, or surrender your eBL, eliminating the need to log in to the platform.
Yes, they can be amended if necessary. WaveBL mirrors the business process that the industry is used to. Issuing, amending, transferring, and surrendering a document via the WaveBL network follow the traditional process of paper documents – but much faster, securely, and cost-effectively.
WaveBL enables the exchange of all documents for all purposes. Documentary credit, collections, and receivables are just a few examples of the trade finance tools supported by our network.
The WAVE BL bylaws are a legal document that defines the roles, rights and liabilities of all users amongst themselves, defining contractual obligations with regards to the issuing of documents or any other usage of the network.
Exactly the same as a paper BL, including both the front and back page (i.e., the contract of carriage itself). The one difference is that the words “Issued electronically on WAVE BL” are automatically added to issued BLs.
No, the contract of carriage entered into by the carrier is the same as that used for paper Bills of Lading, and is governed by whichever laws and regulations apply to that carrier. The WAVE BL bylaws strictly address the transfer of documents, and not any of the commercial dealings between the parties.
As of December 2019, P&I liability for a WAVE BL Bill of Lading is exactly the same as for a paper Bill of Lading. The International Group of P&I Clubs has fully approved the WAVE BL network and bylaws.
WAVE BL has been built to fully implement the rules defined in the English COGSA-1992 law. The WAVE BL bylaws are governed by the laws of
on contractual obligations between all potential parties, there is no need for a state law enabling the use of electronic Bills of Lading. The main obstacle facing digitization is in countries where customs authorities still require the presentation of physical paper documents. However, this requirement is increasingly disappearing as a result of the COVID-19 pandemic.
All parties using WAVE BL, including issuers, exporters, importers, and banks, must agree to accept the WAVE BL bylaws with respect to the definition of an original document on WAVE BL and not challenge the originality of a document issued on WAVE BL in court.
All documents transferred between WAVE BL applications are encrypted using a combination of symmetric and asymmetric keys. Documents are encrypted such that only the intended recipient, and no one else, can decrypt the document.
No. WAVE BL, as a company, has no access to customer documents.
Upon issuance, the issuer signs the title document with their own private key which embeds a reference of this signature in the issuance blockchain transaction. Each future holder of the document or even an entity that holds a copy of the title document, can verify that the document hasn’t been changed from the issuance by using the public key embedded in the issuers contact and issuance blockchain transaction.
After a document is surrendered, the issuer has the ability to send a copy of the surrendered document with an added surrender acceptance signature. This signature will be validated only if the surrendering party’s possession has been revoked.
Yes. WAVE BL contact verification is a process which is handled directly between two WAVE BL users. Its purpose is to verify that the contact information that you have imported to WAVE BL is in fact the contact information of the user you are communicating with via phone, email, SMS or other methods.
