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Criteria
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Traditional Bill of Lading (B/L)
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Electronic Bill of Lading (e-BOL) or (e-BL) or (eBL)
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Impact on Stakeholders
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Format
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Paper document
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Digital document
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Ease in doing business
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Processing Time
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Slower due to manual handling and physical transportation
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Faster due to digital transmission and automation
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Improved efficiency for all stakeholders
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Cost
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Higher due to printing, handling, storage, and courier expenses
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Lower due to reduced paper usage and elimination of courier expenses
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Cost savings for all parties involved
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Exporter's Bank Impact
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Time-consuming manual verification, delays in processing transactions
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Faster, more secure verification and transaction processing
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Enhanced efficiency and security for financial transactions
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Importer's Bank Impact
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Time-consuming manual verification, delays in processing transactions
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Faster, more secure verification and transaction processing
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Enhanced efficiency and security for financial transactions
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Digital Features
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Tracking
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Facilitates electronic B/L issuance, tracking, and management
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Simplified management and tracking of documents
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Environmental Impact
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Higher paper consumption, increased carbon footprint due to courier services
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Reduced paper waste, lower carbon footprint due to digitalization
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Positive environmental impact for all stakeholders
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Data Security and Fraud Prevention
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Limited security features, higher risk of fraud, theft, or tampering
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Enhanced security through encryption, access controls, and blockchain technology
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Improved trust and confidence in the supply chain
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Interoperability and Integration
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Difficult to integrate with digital systems, requires manual data entry
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Easier to integrate with existing systems, supports digital data exchange
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Facilitates digital transformation and modernization
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Scalability and Flexibility
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Limited by physical constraints and manual processes
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Highly scalable and adaptable to changing business needs
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Enables businesses to grow and adapt to market changes
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Real-time Tracking and Updates
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Limited visibility, relies on manual updates
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Real-time tracking, automated updates, and improved visibility
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Enhanced decision-making and responsiveness to disruptions
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Accessibility and Storage
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Requires physical storage, risk of loss or damage, limited accessibility
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Easy digital storage, reduced risk of loss or damage, improved accessibility
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Better document management and retrieval for stakeholders
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Global Standardization
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Varying documentation standards across countries, less uniformity
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Promotes global standardization and uniformity across jurisdictions
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Enhanced interoperability and ease of doing business globally
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Collaboration and Communication
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Less efficient communication between stakeholders, information silos
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Improved collaboration and communication between stakeholders
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Stronger relationships and better information sharing
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How to Use
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Manually filled out, physically signed, and transported via courier
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Electronically issued, digitally signed, and transmitted via secure platforms
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Streamlined and user-friendly process for all stakeholders
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Application in Multimodal Transport
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Requires separate documents for each mode of transport, complex management
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Simplified and integrated document management across multiple modes of transport
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Facilitates seamless logistics management in multimodal transport
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Accessibility and Storage
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Requires physical storage, risk of loss or damage, limited accessibility
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Easy digital storage, reduced risk of loss or damage, improved accessibility
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Better document management and retrieval for stakeholders
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Switch B/L
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Requires physical document amendments, time-consuming, prone to errors
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Faster and easier digital amendments, reduced errors
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Improved flexibility and efficiency for stakeholders
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Exporter and Importer Usage
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Manual document creation, physical submission to banks and other parties
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Digital document creation, electronic submission, and tracking
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Simplified process, reduced time, and effort for parties
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Banks Usage
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Manual document verification, time-consuming transaction processing
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Automated verification, faster transaction processing
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Enhanced efficiency and security for financial transactions
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Required App and Usage
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N/A (physical documents)
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Dedicated e-BOL platform or software for creating, managing, and tracking e-BOLs
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Streamlined, user-friendly experience for stakeholders
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App Usage by Exporter and Importer
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N/A (physical documents)
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Register and log in to the e-BOL platform, create or receive e-BOLs, track shipments, and collaborate with parties
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Simplified and efficient management of shipping documents
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Steps for Exporter's Usage
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1. Create and print B/L 2. Physically sign B/L 3. Courier B/L to parties 4. Manually track shipments and update documents
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1. Register on e-BOL platform 2. Create and digitally sign e-BOL 3. Submit e-BOL to parties electronically 4. Track shipments and update documents online
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Streamlined process, reduced time, and effort for exporter
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Steps for Importer's Usage
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1. Receive B/L via courier 2. Verify B/L 3. Physically submit B/L to bank and other parties 4. Manually track shipments
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1. Receive e-BOL electronically 2. Verify e-BOL 3. Submit e-BOL to bank and other parties electronically 4. Track shipments online
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Simplified process, reduced time, and effort for importer
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Steps for Exporter's Bank Usage
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1. Receive physical B/L from exporter 2. Manually verify B/L 3. Process transactions and coordinate with importer's bank
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1. Receive e-BOL electronically from exporter 2. Verify e-BOL digitally 3. Process transactions and coordinate with importer's bank online
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Enhanced efficiency and security for exporter's bank
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Steps for Importer's Bank Usage
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1. Receive physical B/L from exporter's bank 2. Manually verify B/L 3. Process transactions and release funds
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1. Receive e-BOL electronically from exporter's bank 2. Verify e-BOL digitally 3. Process transactions and release funds online
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Enhanced efficiency and security for importer's bank
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Payment Terms
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Based on the agreed terms between parties (e.g., advance payment, letter of credit, open account)
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Same as traditional B/L; terms are independent of B/L format
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No significant difference in payment terms between formats
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Types of Payment Terms Applicable
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Advance payment, letter of credit, open account, documentary collection, cash against documents
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Advance payment, letter of credit, open account, documentary collection, cash against documents
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Same range of payment terms applicable for both formats
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Types of B/L Involved
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Straight B/L, order B/L, negotiable B/L, bearer B/L, switch B/L
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Electronic equivalents of traditional B/L types, including switch e-BOL
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Expands the range of B/L types to include electronic versions
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Websites for Indian Exporters
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N/A (physical documents)
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1. Bolero.net 2. essDOCS 3. eTitle™ 4. TradeLens 5. CargoX
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Access to digital B/L services for Indian exporters
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Websites for Indian Importers
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N/A (physical documents)
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1. Bolero.net 2. essDOCS 3. eTitle™ 4. TradeLens 5. CargoX
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Access to digital B/L services for Indian importers
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Websites for Indian Banks
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N/A (physical documents)
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1. Bolero.net 2. essDOCS 3. eTitle™ 4. TradeLens 5. CargoX
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Access to digital B/L services for Indian banks
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Time to Process
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Slower due to manual handling and physical transportation
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Faster due to digital transmission and automation
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Improved efficiency for all stakeholders
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Why it is Required
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Serves as a contract of carriage, receipt of goods, and document of title
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Same functions as traditional B/L, but in a digital format
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Streamlines the shipping process for stakeholders
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Executing Payment Terms
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Manually processed, time-consuming
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Same payment terms, executed more efficiently through digital platforms
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Faster and more secure execution of payment terms
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Document against Payment (DP)
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Exporter submits B/L to the bank, bank presents B/L to importer upon payment
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Exporter submits e-BOL to the bank, bank presents e-BOL to importer upon payment
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Simplified and expedited process for both parties
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Document against Acceptance (DA)
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Exporter submits B/L to the bank, bank presents B/L to importer upon acceptance of the bill
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Exporter submits e-BOL to the bank, bank presents e-BOL to importer upon acceptance of the bill
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Streamlined and quicker process for both parties
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Letter of Credit (LC)
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Bank processes and verifies physical B/L as part of LC requirements
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Bank processes and verifies e-BOL digitally as part of LC requirements
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Improved efficiency and security for all parties involved
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Delivery Order
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Requires manual handling and physical submission to the carrier
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Digital submission to the carrier, enabling faster and more efficient processing
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Improved efficiency and communication for parties involved
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Applicable in Truck/By Road
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Yes, applicable for road transport as a traditional B/L
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Yes, e-BOL can be used for road transport similar to a traditional B/L
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Streamlined documentation for road transport
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e-BOL Services for Truck/Road
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N/A (physical documents)
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1. Bolero.net 2. essDOCS 3. eTitle™ 4. TradeLens 5. CargoX
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Access to digital B/L services for road transport
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e-Air Waybill (eAWB)
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N/A (specific to air cargo)
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Yes, eAWB is used for air cargo instead of e-BOL
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Efficient digital documentation for air cargo shipments
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eAWB or eLR for Truck/By Road
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N/A (specific to air cargo)
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Electronic Lorry Receipt (eLR) can be used for truck/road shipments
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Enables digital documentation for truck/road shipments
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