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ARTICLE · 25 JANUARY 2021

Digitization: Blockchain Technology - Bill Of Lading In India

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The Covid-19 outbreak unleashed a set of challenges which like the rest of the world affected the shipping and logistics industry.

IndiaTechnology
Gautam Bhatikar
Gautam Bhatikar
Shruti Salian
Shruti Salian
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Introduction:

The Covid-19 outbreak unleashed a set of challenges which like the rest of the world affected the shipping and logistics industry. The overhaul necessarily required for ease of the much impacted business including financial institutions and every such remotely connected entity to ease certain rigid requisitions in the wake of social distancing or even as a matter of convenience given the shortage of staff, office supplies, etc. In the shipping business, ne such requisition which the authorities don't seem too keen to be flexible about, is their demand for a hard-copy of the bill of lading.  

A Bill of Lading ("BL") is the most vital document in International Trade. It is a legal document issued by a carrier (including a shipping line/freight forwarder/Non-Vessel Operating Common Carrier/ Third-Party Logistics Companies) covering three important functions:

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