Twenty banks and corporates have now taken up the electronic letter of credit (L/C) advice application produced by Bolero, the secure electronic platform over which trade data and documentation can be exchanged on the worldwide web.

BoleroAdvise has now been adopted by a range of business operations in Europe and the Far East according to a company statement.

Documentary credit suite

The BoleroAdvise service application claims to provide exporters with a fast and efficient way to receive L/C advices from their financial institutions, replacing the traditional paper-based mail and fax communications commonly used today.

BoleroAdvise is part of the company's modular documentary credit suite, which aims to improve the management of an organisation's financial supply chain.

Customers

Bolero says that its 20 bank and corporate customers include financial institutions BNP Paribas, Natexis Banques Populaires and HSBC, as well as transport and logistic companies, such as Schneider, and corporates such as telecommunications giant Alcatel, yeast producer Lasaffre and Atofina, the chemical subsidiary of Total.

In the Asia-Pacific region, Bolero says two Japanese corporates have successfully deployed BoleroAdvise and the solution has also attracted considerable interest in Korea where Bolero has three corporate customers.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.