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Bolero (Bill of Lading Electronic Registry Organization) is a method that basically maintains an existing method of L/C transaction but substituting all documents accompanying such transaction with electronic documents. All electronic documents between trading parties will be exchanged through CMP (Core Messaging Platform) of the Bolero System, and the core of such system is to substitute B/L (negotiable securities) with on-line documents. |
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Payment using SURF (Settlement Utility for Managing Risk & Finance) |
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It refers to a system that simplified the handling process for complicated electronic documents within the Bolero System enabling to implement the entire process from entering into a contract to making payments for bills through the Internet and to verify consistency of shipping documents automatically.
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Bolero Advise: Automatic Notification Service for Export L/C through Internet |
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It refers to service that receives a L/C notice presented in the MT700 system of SWIFT by an exporter in a form of XML in real time using the Internet service network.
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An exporter may receive the full text of L/C by clicking 3 times after accessing the Internet as manipulation of transmitting the full text is extremely prompt and convenient.
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The system not only reduces time and operating expenses but it also increases efficiency of the flow of actual distribution and is effective in management of information.
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Thorough security is acquired.
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It is able to realize perfect automated processing of trade documents by processing data through computers without being handled by people.
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It possesses legal force as same as existing paper documents.
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