Casio Goes Live for E-trade on Bolero
Casio Computer Company has started Japan’s first letter of credit (LC)-based exporting e-trade services on Bolero. Initially focused on the export LC transaction, this involves a number of trade documents including the bill of lading that utilises Bolero’s title registry capability. This trade chain covers goods shipped direct from Hong Kong to Korea. Bolero claims that its Title Registry service enhances the credibility and safety of document exchange over the Internet, so Casio would be able to receive the bill of lading securely. Using Bolero for this e-trade service, the time to collect goods could be reduced by up to nine days. As a direct consequence, the Korean importer no longer needs to issue a letter of guarantee.