The International Group (‘the Group’) has confirmed its approval of the IQAX eBL interoperable addendum (version dated 6 December 2024). This follows the Group’s previous approval of the IQAX eBL system and its legal framework, as outlined in the IQAX eBL Service Terms and Conditions dated 17 February 2022.
Purpose of the Interoperable Addendum
The Interoperable Addendum enables inter-platform transfers of electronic bills of lading (eBLs) between IQAX and other approved eBL system providers. This interoperability is subject to the following conditions:
- Transfers must be made to another International Group-approved platform.
- The eBL must be governed by the law of a ‘Recognised Jurisdiction’, as listed in the Annex to the Interoperable Addendum—a jurisdiction that legally recognizes eBLs as equivalent to traditional paper bills of lading.
Exclusions and Compliance
All Group Club Rules regarding cargo carriage remain applicable to approved eBL providers just as they do for traditional paper-based systems. Key exclusions include:
- Cargo discharge at an unauthorized port or location.
- Issuance of ante- or post-dated eBLs.
- Cargo delivery without producing the required negotiable eBL, unless done by the rules of the approved trading system.
This approval reinforces the legal certainty of IQAX eBL’s interoperability while ensuring compliance with Group Club Rules for electronic trading.
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Source: The Swedish Club
