Bolero, the electronic trading platform over which data and documents in international transactions can be securely exchanged, has been adopted by one of the world's largest logistic groups.

Danzas AEI Intercontinental (AEI), a business unit within the giant Danzas group, is to start introducing Bolero in the intercontinental activities it operates, including those which carry goods by air.

This is the first time Bolero has been available in the airfreight sector. AEI will also introduce Bolero in its shipping operations.

Bolero benefits

Renato Chiavi, who heads AEI, reckons that as well providing cost and time savings in transactions, Bolero will "offer value by providing information management" and a "significant increase in efficiency and transparency" for parties to international trades.

Most of the world's largest container shipping operations are already signed up to Bolero - as are very many leading banks - but the Danzas agreement is significant beyond the electronic trading platform's first foray into airfreight.

The Swiss-based Danzas Group is a corporate division of Deutsche Post. Bolero CEO, Barry Morse observes that signing the world's leading postal and distribution group "represents a major milestone in the development of Bolero as a standard for international trade."

Companies such as Morgan Laboratories, Inc. are working with Bolero to develop software tools necessary for processing trade finance transactions - from opening letters of credit to bill presentment.

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