Testing has begun and we have received bills of lading, packing lists, invoices, inspection certificates, requests for collection schedule and HSBC's collection schedule. Not only is the retailer looking to improve the flow of documents between its vendors and banks, but to use Bolero to implement the principles and practices of effective supply chain management. An electronic document is inserted into the Bolero envelope, which in turn states the Sender, Recipient, and Document type. If the envelope states that the document is a Bill of Lading when Bolero receives the message, the document is added to the Title Registry and only the Holder can open that envelope. HSBC has asked Bolero to also include the Bill of Exchange in the Title Registry, since the Bill of Exchange is a negotiable instrument.
Bolero takes no responsibility for the content of envelopes.
It does not verify that an envelope labeled to contain a Bill of Lading actually contains one, nor does it set message standards for the content of envelopes. Envelopes could contain spreadsheets, a word processor file or an EDI message and could be in any one of thousands of different formats or variations. This makes it difficult to integrate into a client's own computer systems. As such, trading parties must agree on standards before automation can take place. However, Bolero has recognized this problem and is looking to resolve this issue in the future.