Source: Bolero NR Capital, the innovative Singapore-based digital commodity trade finance fund manager has executed the world’s first-ever electronic Bill of Lading (eBL) for an SME in a gasoil floating storage investment transaction. The transaction, which took place on November 26th, follows NR Capital’s agreement earlier this year to partner with Bolero International, the premier trade finance digitisation expert. This allows NR Capital to leverage Bolero’s electronic Bill of Lading technology, enabling it to securely facilitate crucial investment support to companies in the bulk physical commodity markets around the world. The transaction involved the NR Capital Trade Flow Fund buying gasoil diesel from its SME customer in storage on a large oil tanker. As part of the transaction, the SME customer digitised and transferred the title and other trade documents over to NR Capital using the Bolero solution, and upon receipt an investment was released to the SME customer. The SME customer will buy back the gasoil as it needs it for its business operations during the agreed investment period. This gives the SME customer much-needed balance sheet relief and business growth support. Bolero’s Multi-Bank Trade Finance solution enables NR Capital to provide SME firms around the world with access… continue reading
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Source: CTRM Center