The UN/CEFACT Buy/Ship/Pay Business Requirement Specification and Reference Data Model (based on the UN/CEFACT Core Component Library (CCL)) identify the involved in the international supply chain and provides an overview of the information exchanged between the parties throughout its various processes of trade (Buy), transport (Ship) and payment (Pay).
Trade finance, the cornerstone of international trade requires exchanging information including the following:
• Supply Chain Reference Data Model (SCRDM) Invoice (CII), an itemized account of goods shipped, services performed or work done, an amount expended or owed, and a demand for payment. It may contain a range of other administrative or logistical information and usually states applicable taxes payable and provides a crucial link or pivot between physical and financial supply chains.
• Negotiable Maritime Bill of Lading (eB/L) - moving goods require moving as well important trade documents between exporters, shipping agents, banks, importers and other parties is a complex and costly process, which can lead to delays and disruption. The standards in support of electronic Bill of Lading adoption (eBL) offering more efficient, secure and sustainable digital alternative have been developed by UN/CEFACT and adopted by DCSA, BIMCO and FIATA.
• Buy Ship Pay (BSP) Preferential and Non-Preferential Certificates of Origin (CoO) that certify that goods in a particular export consignment are wholly obtained, produced, manufactured or processed in a particular country.
• Documentary Credit Advice (DCA) a bank guarantee that a buyer's payment to a seller will be received on time and for the correct amount. The Documentary Credit Advice message is used to indicate to the Beneficiary the terms and conditions of a documentary credit that has been originated by the Issuing Bank and received by the Advising Bank (or an Intermediary Advising Bank). Unless otherwise specified, the documentary credit is issued subject to the Uniform Customs and Practices for Documentary Credits, International Chamber of Commerce, Paris, France, which are in effect on the date of issue.
• Buy Ship Pay (BSP) Export Packing List (PL), Export Packing Lists support sellers providing transport services providers with shipment delivery information.
• Multi Model Transport (MMT) Warehouse Receipt, a document that provides proof of ownership of commodities (e.g., bars of copper) that are stored in a warehouse, vault, or depository for safekeeping. Can be digital thanks to the standards that were developed in collaboration with FIATA based on MMT eBusiness Standard
• Multi Model Transport (MMT) Maritime Cargo Insurance Certificate (IC), a data exchange which is used for insurance purposes either by the shipper to inform the insurer and/or insurance intermediary about a planned transport, or by the shipper or carrier to inform the insurer and/or the insurance intermediary about a consignment under contract (eB/L) or to convey an Insurance Certificate or Insurance Policy or to provide details of the insurer or the underwriting agent of the insurer to confirm evidence of insurance for a consignment to the shipper, bank or third party. |