Germany-China Digital Trade Test Executed Between Commerzbank, Siemens, and FMS

Germany-China digital trade test executed between Commerzbank, Siemens, and FMS

Commerzbank, Siemens, and freight forwarder Fr. Meyer’s Sohn completed the proof of concept on 14 July, using electronic bills of lading (eBLs) and digital document flows to process what would traditionally require extensive paper-based procedures under a letter of credit arrangement. The test transaction showcased the exchange of digital original documents between a German exporter and Chinese counterparts, utilising technology from Swedish com…

Enigio completes proof-of-concept for Germany-China digital trade

Sweden-headquartered fintech Enigio has teamed up with Commerzbank and Siemens to complete a proof-of-concept for a digital trade transaction between Germany and China.  The project entailed transmitting original electronic versions of trade documents, including an electronic bill of lading (eBL), to support the export of goods from Siemens in Germany to an importer in China.  The test transaction also involved an export letter of credit issued …