Key Trade Documents and Data Elements

Key Trade
Documents and
Data Elements
Digital standards analysis and recommendations
March 2023
In this report
Entity Relationship Map: Key Documents & Data Elements in Trade 2
1. Executive summary 4
2. Introduction 6
2.1. Unpacking the KTDDE’s findings 7
3. Our vision 8
3.1. DSI’s vision for digital trade landscape 8
3.2. Assessing the current digital trade landscape 8
3.3. Responding to these digitalisation challenges 9
4. Our findings and recommendations 10
4.1. Key findings from analysis 10
4.2. Implications of analysis and recommendations 11
4.3. Cross-cutting recommendations 11
4.4. Document specific recommendations 11
5. Next steps 13
5.1. Key next steps and timeline 13
6. Detailed report and analysis 14
6.1. Methodology 14
7. Key documents analysis 15
7.1. Warehouse Receipts 15
7.2. Certificate of Origin 17
7.3. Commercial Invoice 19
7.4. Packing List 22
7.5. Bill of Lading 23
7.6 Customs/Goods Declaration 25
7.7. Insurance Certificates 27
8. Glossary of key trade data elements 29
8.1. Methodology 29
8.2. Data analysis results 29
8.3. Recommendations and best practice standards 29
8.4. Data elements 36
8.5. Annex: categorised data elements usage by document 43
9. Appendix A: working group members 48
Key Trade Documents & Data Elements Report 1

Entity Relationship Map
Shared Key Data Elements1

Identifier
Description HS Code Port (i.e. IMO Invoice Buyer
of Goods (Commodity Code) (UNCEFACT coded) of Charge Weight Consignee Vessel Number Contract Volume
Number)
xx xx xx
xx
# xx xx xx # CRN #
Levels of Levels of Levels of Levels of

Digitalisation Digitalisation Digitalisation Digitalisation
CERTIFICATE CUSTOMS / GOODS PACKING BILL OF

OF ORIGIN DECLARATION LIST LADING
A form which certifies Enables a declarant to Covers the physical Provides evidence of
expressly that a set of indicate the customs delivery of goods from contract of carriage;
goods originated in a procedure to be one physical site to confirmation of receipt
specific country applied to the goods another in line with a for the goods; and/or
transport contract a document of title
obligation
Kyoto Convention
ICC-WCF Origin
Guidelines
OASIS UBL
UN/CEFACT WCO DATA MODEL
from Seller / Exporter Seller / Exporter Seller / Exporter Ocean Carrier

Actors
to Issuing Authority Customs Agent Buyer / Importer Customs Agent
1. Note: these data elements are not the only ones appearing on a particular
document, rather they are those that one or more documents have in common
2 Key Trade Documents & Data Elements Report

Total
Country Invoice
Seller Buyer Supplier Importer Exporter of Origin Amount Incoterms Notify Party
NAME
XXXX # EXW #
Levels of Levels of Levels of

Digitalisation Digitalisation Digitalisation
COMMERCIAL WAREHOUSE INSURANCE

INVOICE RECEIPT CERTIFICATES
ISO/ IEC 19845:2015

GS1 EDI
European Standard
for invoicing
PEPPOL
ISO 20022
OFD Format based
on XML
Seller / Exporter Warehouse Keeper Insurance Company
Buyer / Importer Buyer / Importer Buyer / Importer

Seller / Exporter Seller / Exporter

1 Executive summary
Digital trade, or the application of digital on how common data approaches and
technologies to trade and supply chain digital standards could facilitate data
processes, is an opportunity to drive sharing and interoperability that would
efficiency, speed, and resilience for enable digital trade at scale. When taken
companies, industries and countries that together with the progress already achieved
rely on trade for growth. The pace of by both multilateral and private sector
technological advancement, and the falling organisations to ensure alignment between
cost of computing power and storage, now commonly used digital standards, this
make the benefits of digitally-enabled trade shows the feasibility of digital trade without
accessible to more parties than ever before. the creation of entirely new standards and
taxonomies, but rather, by adapting and
However progress towards digital trade is building on practices already in place.
slower than it could be, despite the progress
thus far. It is also uneven, with small and While there are over 40 key trade documents
medium-sized enterprises (SMEs) and the that can be digitalised, according to a
emerging markets relatively slower to adapt. United Nations Economic and Social
Barriers to digital trade include the lack of an Commission for Asia and the Pacific
enabling policy environment, the proliferation (UNESCAP)/WTO study1, and this exercise
of multiple digital trade practices and covered just seven, the outcome points to
standards, as well as a lack of capacity data sharing as a potential opportunity
and culture of data sharing. The ICC Digital with the attendant benefits of efficiency,
Standards Initiative (DSI) was established to accuracy and verifiability. Alas, given that
address these barriers. there are an estimated four billion pages
of documents circulating in documentary
This report contains the major findings and trade, this is no small task.2 The opportunity
recommendations of the DSI’s Key Trade is significant. According to a report3 from
Document and Data Elements (KTDDE) the Commonwealth Connectivity Agenda,
Working Group, which analysed seven the use of digital trade paperwork could
key trade documents and their respective increase trade within the 54 Commonwealth
digital versions, seeking to define, map countries by US$1.2 trillion. This sum reflects
and align the data and data elements efficiency gains and cost savings from a
contained therein. The resulting data set, lighter paperwork load, as well as the trade
together with a horizontal analysis to identify boost that would result from greater access
repeated data elements across the key trade to trade finance.
documents, provides guidance
1
World Trade Organisation and the UNESCAP countries, Cross Border Paperless Trade Toolkit https://www.wto.org/
english/res_e/booksp_e/paperlesstrade2022_e.pdf
2
Ibid.
3
https://thecommonwealth.org/news/12-trillion-commonwealth-trade-boost-digitalising-paperwork-report-finds

The cross-cutting guidance is relevant standards as key catalysts on the road to
to a wide range of trade actors, as well digitalisation. This task could be accelerated
as interested observers who support the by the adoption of four simple principles
adoption of global, industry relevant in support:
• Make systems and platforms compatible by design: Ensure that electronic data
interchange systems are compatible with at least one major recognised standard,
and preferably able to work with multiple standards
• Align to best practice definitions of key data elements: Issuing and acceptance
organisations, and relevant regulators, should consider how best to align with best
practice definitions in an effort to drive interoperability in practice
• Use existing agreements to adapt to a changing environment: Governments and

regulators should leverage existing trade relationships to collaborate on new standards
for emerging digital trade issues (e.g., smart contracts)
• Pursue a “digital by default” strategy: Issuing and acceptance organisations should

default to a 100% digital issuing process, eliminating manually issued documents where
possible and reducing the use of wet stamps and printing

2 Introduction
The DSI aims to digitalise global trade by DSI’s KTDDE workstream, which has
promoting policy reform, and aligning and produced this report, promotes the
driving adoption of digital trade standards interoperability of the digital representations
and practices for the benefit of business, of trade documents and the definitions of
governments and people everywhere. key data elements within them.
DSI’s Industry Advisory Board (IAB) brings With an estimated four billion pages
together the key private and public sector circulating in documentary trade, this is no
bodies associated with the advancement of small task.4 There are clear efficiency, speed
digital trade across all regions, sectors, and and transparency benefits to digitalising
supply chain functions. Working under the the global trading system. BCG estimates
oversight of DSI's, the IAB offers a neutral that fully digitising trade operations using
platform to align digital trade data, practices intelligent automation and future technology
and standards and to coordinate adoption of solutions could save global trade banks up to
these across international supply chains. US$6 billion on a cost base of US$12-16 billion.5
The IAB has created two working groups to On an individual document level, processing
progress this work: one focusing on Key Trade a paper Bill of Lading (BL) - a document
Documents and Data Elements (KTDDE) issued by a carrier to acknowledge receipt
and the other looking at building a Trusted of goods - costs three times as much as its
Technology Environment (TTE) respectively. digital equivalent.6 With the integration of
blockchain and other technologies related to
trust and verification, these benefits will only
be amplified.7
Digitised vs Digitalised
Digitisation involves converting data from an analogue to digital format

(e.g. taking a paper report and converting it to a pdf).
Digitalisation, on the other hand, is about transforming entire processes to be digital.
It is about using technology to change the way that business-as-usual is conducted.
4 ICC (2018), Global Trade - Securing Future Growth

5 ICC (2018), Global Trade - Securing Future Growth
6 Hariesh Manaadiar (2020), The beginning of the end for the Paper Bill of Lading
7 WTO & WEF (2022), Policy Approaches to Harness Trade Digitalisation

Data compatibility and interoperability chains on account of their being essential
among individual information systems to trade or required by laws and regulations.
owned by different stakeholders or networks These documents are: Certificates of Origin;
thereof, is a prerequisite to the development Commercial Invoices; Warehouse Receipts;
and implementation of automated electronic Packing Lists; Bills of Lading; Customs
data sharing and exchange. This meets the Declaration Forms; and Insurance Certificates.
operational and regulatory requirements
across trade and supply chains, and These seven are among the trade
reduces the barriers of cost, operational documents identified in the “Cross-border
risk and complexity which currently prevent Paperless Trade Toolkit” report co-published
digitalisation at scale. by the WTO, UNESCAP and UNCITRAL in
2022. They were chosen after consultation
For this project, a working group was formed with members of the IAB and within the DSI
of 44 members from user companies, network, as frequently used across supply
associations and Standards Development chains globally. It was noted that some of
Organisations (SDOs). The group has since these documents already have electronic or
completed an analysis of seven key trade digital versions and are at different stages of
documents, taken here to mean documents the digitalisation process.
that are used widely across global supply
2.1. Unpacking the KTDDE’s findings
The report’s recommendations have implications for a number of key stakeholders:
• Standards Organisations: Given the importance of cohesive and common data

definitions, standards bodies should ensure that their deliverables include data definitions
consistent with other SDOs, even if the syntax and format of their standards diverge.
In addition, steps should be taken to fill standards gaps where they exist (for example,
in insurance certificates). The publicly available ICC-WTO Standards Toolkit offers
a glossary of relevant definitions.8 The Management Group of the Memorandum of
Understanding (MoU) on electronic business between International Electrotechnical
Commision (IEC), International Organisation for Standardisation (ISO), (International
Telecommunication Union ) ITU, and United Nations Economic Commission for Europe
(UN/ECE)9 could also support the coordination of e-business standards between SDOs.
• Industry and Private Sector: Where possible industry actors – whether businesses
operating along the supply chain, service providers or supply chain networks - should
implement globally recognised standards . But this report also serves as a timely reminder
that a comprehensive digital transformation requires that all major links in the value
chain collaborate. Banks, shipping and transport companies, and corporates should
maintain constant dialogue in identifying the best way to reach the goal of harmonising
their approaches to digital trade.
• Issuing and Acceptance Organisations: The cross-cutting recommendations of this report

emphasise a “digital by default” strategy, from eliminating manually issued documents
where possible to reducing the use of wet stamps, to be led by issuing and acceptance
organisations. In practice, supply chains operate across multiple jurisdictions all of
which are at different stages of digitalisation. This means that issuing and acceptance
organisations should transition from paper to digital , and encourage adoption by
requiring trade parties to “opt out” of digital, rather than having to “opt in”.
8 ICC & WTO (2022) Standards Toolkit for Cross-Border Paperless Trade
9 https://www.itu.int/en/ITU-T/ebusiness/Pages/mou/default.aspx

3 Our vision
3.1. DSI’s vision for digital trade (MLETR) of UNCITRAL to ensure legal
interoperability across legal jurisdictions.
DSI works towards the ambitious aim
of establishing a globally harmonised • Enable the trade standards landscape:
digitised (and beyond that digitalised) trade Expand standards to share information
environment, addressing a divergence concerning trade-related processes, and
of legal and technical standards which enhance access to these standards to
threaten to undermine global flows of digital accelerate the digitalisation of trade-
information. Launched just prior to global related processes.
trade and supply chain disruptions during
the COVID-19 crisis, DSI aims to speed up 3.2. Assessing the current digital
legislative reforms; harmonise standards; trade landscape
and promote greater trade interoperability.
There are a number of ongoing efforts to
These efforts are much needed. According both harmonise, create alignment and share
to BCG, the end-to-end journey of a letter data generated by trade processes and their
of credit involves more than 20 players related key trade documents already.
and more than 100 pages across 10 to
20 documents, many duplicated and Several sectors, including the banking industry,
transmitted multiple times.10 Cargo vessels the freight forwarding industry or the shipping
can spend up to 70% of their port time at industry, have been particularly active in these
a berth, processing documents that may areas, with a number of initiatives to promote
arrive before – or even after – the goods common industry-wide standards around the
themselves.11 (electronic) Bill of Lading.
With this in mind, DSI seeks to realise its aims These provide good models for efforts
across four key activities: that touch other parts of the supply chain,
particularly those where supply chain partners
• Encourage harmonisation of digital include SMEs in the emerging markets.
standards efforts across alliance
groups, industry forums, standards Indeed, the creation of pathways for alignment
orgs, companies and countries: and interoperation of supply chain data
These standards are needed to drive could be the key to address the long-standing
interoperability between various trade challenge of trade finance faced by SMEs.
platforms and different components of
the trade ecosystem. As many have noted the data generated from
digital trade could lower the cost to accomplish
• Advocate for the adoption of legislation a single trade finance transaction, thereby
which creates legal equivalence between lowering the barriers to offering financing in
paper and electronic documents. This smaller amounts typically needed by SMEs.12
should be in line with the Model Law SMEs accounted for some 40% of rejected
of Electronic Transferable records trade finance
10 ICC (2018), Global Trade- Securing Future Growth


applications to banks globally during the One of the complexities of digital trade is
pandemic, producing a trade finance gap the huge increase in the amount of data
of US$1.7 trillion that stands in the way of job required to complete each stage of a supply
creation and growth in the emerging markets.13 chain transaction, and the amount of
data that is passed between parties along
The development of global standards– the supply chain. The working group thus
allowing for alignment of practices, data sought to identify key data elements used
sharing, and transparency within supply across documents and also to highlight
chains– is a major challenge facing advocates examples of best practices, such as the use
for digital trade. This is not to say that a of internationally unique identifiers instead
number of initiatives have not made progress of proprietary solutions. Thus it points to the
that has been beneficial for the industry. foundations for interoperability between
these large datasets given the overlap in
Indeed the emergence of digital trade and data elements between the various trade
supply chain platforms dedicated to data documents.
sharing, industry networks that promote
greater flows of finance within supply chains, While the primary focus of the report is on
and industry initiatives aimed at alignment of relevant standards and key data elements, its
data and practices, shows that many believe recommendations also imply that standards
that commonly used standards, practices, and and other agreements (e.g. trade agreements)
data are the key to the future of digital trade. can be leveraged to raise awareness of
digitalisation across markets, sectors, and
3.3. Responding to these national and international trade landscapes.
digitalisation challenges
Set against the current state of digital

trade, this report makes a number of key
contributions. From the perspective of
educating those who participate in trade-
related activity, it aims to clarify the purpose
and functionalities of Key Trade Documents,
as well as identifying the relevant standards
that are associated with them.
12 SWIFT (2021), Digitising Trade: The time is now

13 Asian Development Bank (2022), Driving Inclusive Digitalisation in Trade and Trade Finance

4 Our findings
and recommendations
4.1. Key findings from analysis The document-by-document analysis also

uncovered some gaps in standardisation, for
In thinking about the above challenges, the instance in relation to Insurance Certificates,
working group undertook a document-by- where a lack of globally accepted standards
document analysis and in doing so sought has resulted in the non-acceptance of some
to involve key parties – private, industry, documents by trade stakeholders (e.g. banks).
and public – which have knowledge and Even where standardisation is harmonised,
experience in digitalisation of the respective there are some legal and regulatory gaps yet
documents. The analysis covered purpose to be filled, such as in the case of Warehouse
and usage; legal frameworks; Key Standards; Receipts (WRs), where the UNIDROIT Model
and present challenges to digitalisation. Law on Warehouse Receipts is currently
For those documents facing specific being drafted to provide a cross-border legal
digitalisation challenges (for example diverse framework for the document.
and divergent standards), the working group
has made specific recommendations below. This document-by-document analysis was
followed by a horizontal analysis that sought
For each of the seven key documents, the to understand the degree to which overlap in
working group discovered that there could data and practices exists between the seven
be a number of standards existing and key trade documents.
used for the relevant document. Often
there were no material differences between Considering each of these key documents in
the various standards: they captured the a horizontal analysis revealed and confirmed
same data, referred to the same flows, and several patterns, enabling a mapping of gaps
even used the same data formats. In some in standards. This is presented visually in the
cases, where variations did exist, these were infographic at the beginning of this report.
rarely an obstacle to smooth trade flows,
except where they also create ambiguous This process generated four broader, cross-
definitions of data elements. cutting recommendations described below.
In the case of commercial invoices for Whilst significant progress has been
example, a variance in standards for entity made in recent years in the development
identification, date time stamps, country of international standards for these key
codes and currency are coupled with documents, it is nevertheless the case
differing Key Data Element (KDE) definitions, that former interoperability challenges
which has resulted in difficulties in customs has created a lag in the uptake of
authorities interpreting and processing digital trade documents. In some cases,
invoices from abroad. In the interests of commercial communities in selected
promoting the harmonisation of these countries are unaware of the opportunities
definitions, the working group has created a that digital provides, and the means of
glossary of KDEs included in this report digitalising documents. One of the key
. recommendations of this report responds
to this need in particular, suggesting that
issuing and acceptance organisations take a
“digital by default” approach when it comes
to working with these documents.

4.2. Implications of analysis (2) Issuing and acceptance organisations,
and recommendations and relevant regulators, should align to best
practice definitions of Key Data Elements
The work has produced four cross-cutting where they exist
recommendations and a further nine
The adoption of best practices will improve
recommendations relating to specific
the interoperability between various
documents.
implementations of different documents
using different standards. This will facilitate
the global growth of digitalisation across
4.3. Cross-cutting recommendations
multiple industries.
(1) Ensure that platforms and systems are (3) Issuing and acceptance organisations
designed to be compatible with at least should pursue a “digital by default” strategy.
one of the major recognised standards, and Default to a 100% digital issuing process,
preferably and preferably able to work with eliminating manually issued documents
multiple standards where possible and reducing the use of wet
stamps and printed documents
Rather than attempting to harmonise what
are in many instances similar standards – i.e. While regulation plays a key role in laying the
request that all trade stakeholders move to foundations for digitalised trade, this will not
one set of standards – it is more important occur in a widespread way without digital
that trade and customs platforms like becoming the norm. These organisations
electronic data interchange systems are able should continue to accommodate for
to translate syntax, meaning and formats companies that are unable to digitalise, but
across different standards. should create a digital-oriented environment
across their internal and external processes,
For support on navigating different toolkits, trade-related or otherwise.
trade parties should refer to the ICC WTO
Standards Toolkit for Cross-Border Paperless (4) Governments should leverage existing
Trade. trade relationships to collaborate on new
regulations for the issues that are likely to
define the future of digital trade
As the World Economic Forum notes, “trade

ICC WTO Standards Toolkit for agreements can play a key role in fostering
cross-border paperless trade regulatory convergence and interoperability”,
building on existing agreements to remove
a particular country’s extra trade barriers
The ICC WTO Standards Toolkit or requirements that create additional pain
aims to equip every supply chain points for shipping and logistics companies.15
participants, both public and private,
with some of the most notable and
widely used standards to help enable 4.4. Document specific
a future of secure, trusted and recommendations
seamless trade connectivity.
4.4.1. Warehouse Receipts:
The toolkit provides a starting point to
guide users in their adoption of existing Encourage the global adoption of the
standards, and gives an overview of UNIDROIT Model Law on Warehouse Receipts
interoperable digitalisation frameworks once it is formally published
and standards-setting bodies.
14 ICC & WTO, Standards Toolkit for Cross-Border Paperless Trade, https://iccwbo.org/publication/standards-toolkit-
for-cross-border-paperless-trade/#section--download

The model law is set up to tackle the problem 4.4.3. Commercial invoice:
of an underdeveloped regulatory environment
by giving national governments a framework SDOs should ensure standards are open;
to modernise Warehouse Receipts. internationally recognised; and cost/benefit
effective
SDOs, especially the International Federation
of Freight Forwarders Associations (FIATA), Digital commercial invoices are hindered
should promote usage of WR at a national by divergent standards. Rather than trying
level by advising governments on how to to develop one universal standard, the
adapt global standards for national purposes emphasis should be placed on building
translation capacity between standards
To adapt existing standards and frameworks designed in accordance with a set of
to local regulatory environments (which principles and based on common data
Warehouse Receipts are subject to), SDOs definitions.
can use their expertise to act as translators
between the global and local level. Governments should build on existing
regulations, such as the EU’s mandated
Increase familiarity of a country’s e-Invoicing for procurement, to encourage
commercial community with WRs, and suppliers to digitalise
incentivise the development of a private
storage industry Currently, the EU mandates that digital
Commercial Invoices are used by
Government intervention in agricultural procurement agents, but this mandate
industries has reduced incentives to develop does not extend to governments’ suppliers
a private storage industry in some countries, and invoices are rarely delivered digitally in
with a knock-on effect that commercial practice.17
communities have little familiarity with
Warehouse Receipts. 4.4.4. Insurance Certificates:
4.4.2. Certificate of Origin (CoO): SDOs should develop a document stating

the standard requirement for insurance
Continue to encourage the adoption of ICC certificates, together with clear definitions
guidance on digital procedures for issuing of Key Data Elements (to be harmonised
and attesting CoOs across other trade documents)
ICC has already produced guidance on A lack of global standards for Insurance
issuing and attesting CoOs, which should Certificates have led to some trade actors
be leveraged to increase the spread of not accepting documents that are delivered
digitalisation, rather than developing any in various formats, wasting both time and
new guidance.16 money.
SDOs should raise awareness through Allow integration or reuse of data in existing
standards guidance and asking chambers logistics digital platforms so that the
of commerce to encourage members to common data elements are not repeatedly
digitalise entered
Chambers of commerce are in a unique Current systems are inefficient, requiring the
position to support in raising the awareness re-entry of shipment information as opposed
of digital CoOs. Not only are they able to being auto-populated or reusing data
to communicate with a large number of already available from other documents.
industry representatives through their
membership, but they are also a common This is also a key step to achieving ‘clean
recipient of CoOs and can ask for these to be data’ sets, which are essential for the
delivered digitally. automatic processing of data. It is important
that master data information is correctly
formatted and ‘clean’ before engaging in
transactional data interchange.
16 ICC, Electronic Certificate of Origin (eCO) - Best Practices

17
European Commission (2022), European legislation on eInvoicing

5 Next steps
5.1. Key next steps and timeline participants, and knowledgeable observers
on how to improve data and standards
This document aims to catalyse a alignment in support of trade digitalisation
conversation regarding global trade, not worldwide.
conclude it. We welcome feedback from
industry, the public sector, supply chain

6 Detailed report
and analysis
6.1. Methodology are being leveraged to overcome

challenges of digitalisation.
6.1.1. Principles
6.1.2. Methodology
The analysis and recommendations have
been conducted in conjunction with DSI’s five Phase One of the working group’s activities
underlying principles, which aim to promote was conducted against a series of business
fairness, efficiency and transparency in objectives outlined in the Terms of Reference
global trade. of the group’s foundation. In the first instance,
the group mapped and identified key
• Re-use rather than recreate: documents; stakeholders and SDOs that
DSI advocates for the adoption of might prove relevant in discussions of trade
existing standards when viable, rather digitalisation. In adherence to DSI principles
than creating new standards. In each of outlined above, the key SDOs identified
the seven documents analysed, with the were ISO, UNECE-UN/CEFACT, GLEIF, WCO,
exception of the Insurance Certificates, GS1, DCSA, BIMCO, FIATA and SWIFT. Key
global standards already exist than can documents were selected by the Industry
be adopted by trade parties. Advisory Board based on their essential
• Engage standard-setting bodies: nature to trade or requirement by laws and
In order to leverage the expertise and regulations.
knowledge of trusted standard-setting
bodies, the working group contains The working group appointed focal points for
representatives from all of the major each document according to diversity and
global SDOs and trade associations, expertise, who worked with interested parties
many of whom have taken the lead to analyse their respective document. These
on both the Key Trade Document and sub-teams provided updates and discussed
horizontal analysis. A comprehensive approaches and findings every two weeks
list of working group members can be during working group meetings. Once these
found in an appendix to this report. documents had been considered individually,
• Consider all approaches: Both the a horizontal analysis revealed patterns across
document-by-document and horizontal the data, which formed the basis of cross-
analysis considered a wide range of cutting recommendations.
global standards without focusing
unduly on one sector, region or SDO. The horizontal analysis also proved useful
• Accessible to all: It is important to in identifying key data elements, those that
establish standards that are truly appeared across multiple documents. These
accessible to carriers, exporters, attributes were extracted and grouped by
importers, banks and customs agencies. similar meaning (e.g. brand description and
Encouraging a “digital by default” product description), before being organised
response means also having non-digital into 12 categories: amount; banking;
options for those who need it, and consignment; document; date; duty/tax;
recognising that moving to digital is a goods; location; measure; party; transport;
journey rather than an absolute shift. and terms.
• Enhance capacity: This report’s
recommendations are sufficiently broad With this data representation, the working
to ensure that the appropriate capabilities group was able to map any conflicts in
within relevant industries definitions that arose, and has recommended
best practice on those data types.

7 Key document analysis
The following section includes the analysis of an approximate visual representation of our
the key documents, which have been edited findings – is based on the experience of the
for consistency, tone and clarity. The analysis contributors to the report as well as wide
– including the sliding scales which provide secondary research.
7.1. Warehouse Receipts
Summary
A Warehouse Receipt (WR) is a document most commonly issued by

a Warehouse keeper, acknowledging the receipt of goods placed in a
Purpose
Warehouse. It can also be used as a tool for financing and commodity
trading, and can in certain cases also be used as collateral.
The creator or sender of the document is most commonly the

Warehouse Keeper or Owner of the Warehouse in which the goods are
Sender
stored, but in certain cases a contractual party such as a forwarder or
transporter could also become a creator of the document.
The receiver of the WR is the Buyer or Seller who has requested the
Receiver
goods be deposited in the warehouse.
The specific legal framework of the WR is determined by the national

laws applicable in each country.
The FIATA Warehouse Receipt (FWR) is used in freight forwarders’

Legal Framework warehousing operations, and is a standard document mainly used at
national/territorial level. It too is subject to individual countries’ laws,
but there are also provisions regarding the activity of warehouse
keepers in countries where forwarders use standard trading conditions.
It is difficult to estimate the number of WRs in circulation, however it

is very widely used in the commodity and agriculture markets. There
Usage
have been millions of copies of the FWR, used in freight forwarders’
warehousing operations, issued.

A FWR is used by Forwarders around the world and is a globally
Key Standards accepted document. It is adapted by each member country and is
therefore issued as per the Standard Trading Conditions in each country.
Major Differences
There are no major differences in standards, as the documents are issued
between
in accordance with regulations or laws applicable in each country.
Standards
Currently this document is being issued in a paper format, but

Platforms individual organisations may also issue the same document in
electronic format.
• Party: Supplier of the Goods; Depositor of the Goods; Warehouse

Keeper; Warehouse Operator
• Transport: Means of Transport
Key Data • Documents: Insurance
Elements
& Definitions • Goods Identification Marks; Number and Kinds of Packages:
Description of Goods; Condition that the Goods were Received in
• Measure: Gross Weight of the Goods
• Date: Date and Signature of the Issuance of the Document
Once digitalisation of the document is complete, greater awareness

amongst trade actors of the digital WR can be achieved through
either direct issuance from a treasury management system (TMS),
Adoption
software providers, or through a common platform. Marketability to
financial companies would also prove important, since the WR is often
used in commodity futures.
The use of WR is limited in many developing countries because of

institutional and structural shortcomings, among which the most
prevalent are the following: lack of incentives for the development
of a private storage industry owing to government intervention in
Document- agricultural markets ; lack of an appropriate legal, regulatory, and
Specific institutional environment to support a system of WR; and familiarity
Challenges of the country’s commercial, including its banking, community with
warehousing receipts.
• Under-developed legal & regulatory environment

• Raising awareness of digitalisation
• Encourage the global adoption of the UNIDROIT Model Law on

Warehouse Receipts once it is formally published
Document • SDOs, especially FIATA, should promote usage of WR at a national
Specific level by advising governments on how to adapt global standards
Solutions for national purposes
• Increase familiarity of a country’s commercial community with
WRs, and incentivise the development of a private storage industry

7.2. Certificate of Origin
Summary
A form which certifies expressly that a set of goods originated in a

specific country. They are used in trade policy measures which are not
related to the granting of tariff preferences. Note, the working group has
Purpose specifically considered Non-Preferential CoOs, those that relate to rules
of origin that are not linked to Free Trade Agreements. Non-Preferential
CoOs are also used as part of a Letter of Credit or Call for Tender. Can
also be used in the administration of the importer as proof of origin.
Varies between business-to-business (B2B) and business-to-

Sender government (B2G), but usually an exporter or authorised representative
(e.g. freight forwarder).
Varies between B2B and B2G, but usually an issuing authority (e.g.
Receiver
chamber of commerce or customers).
The main framework is provided by the WTO Agreement on Rules

of Origin, and revised Kyoto Convention on Simplification and
Harmonisation of Customs Procedures, but there are many laws that
Legal Framework
can influence the CoO. Sometimes there is no legislation involved, as
when the importer is asking for the document as a part of internal
origin procedures of the company.
More than 15 million documents a year, but there are no exact numbers
Usage
available.
Major
differences The layout of CoO’s is mostly standardised, and there are no major
between differences between the definitions of different key data elements.
Standards
Electronic CoOs are supported by the development of National Single

Platforms
Window services.

• Document: CoO Certificate Number; Additional Numbers (LC
Number etc.)
• Party: Exporter - Consigner (applicant); importer- consignee
– to order (facultative); Certifying body (details of the issuing
organisation including place and the date of issuance and
authorisation)
• Location: Origin of the Goods (UN/LOCODE)
Key Data • Transport: Particulars of transport details (facultative)
Elements • Goods: Marks and numbers; Number and Kind of Package;
& Definitions Description of the Goods
• Measure: Gross weight- quantity
• Other Information
A CoO is connected to a shipment, therefore information about the

exporter and description of the goods has to be the same as that
used in other documents. In other words the CoO is following other
elements of the shipment, and as such there is no discussion for ex-
ample about the definition of an exporter or applicant.
Challenges in raising awareness of digitalisation and proportion

Adoption of digital certificates of origin addressed in challenges and
recommendations.
Other
Information
Framing the problem: DSI's work suggests that most CoOs have the
same lay-out, and in those countries where there are some additional
boxes on the CoO this is not creating a blocking issue. There is also no
blocker when it comes to thinking about key definitions (of exporter or
applicant for example), since the CoO follows the other elements of
the shipment.
Document- So the question becomes around how to digitise. A challenge is that
Specific other parties require the CoO and establish sometimes their own
Challenges requirements. For example, in the Netherlands, 500,000 CoOs are
issued annually and 30,000 of them are going through an extra step
with the Ministry of Foreign Affairs.
• Lack of digitalisation
• Raising awareness of digitalisation
• National governments sometimes establish their own requirements
• Continue to encourage the adoption of ICC guidance on digital

Document procedures for issuing and attesting CoOs
Specific
Solutions • SDOs should raise awareness through standards guidance and
asking chambers of commerce to encourage members to digitise

7.3. Commercial Invoice
Summary
A commercial document which consists of an itemised account of

Purpose
goods or services delivered, together with a demand for payment.
Sender Sellers of goods and services.
Receiver Buyer of goods and services.
The legal framework is determined by the national laws applicable in

Legal Framework
each country.
SWIFT conducted a study of cross-border payments with credit

confirmations in the months of September and October 2020. The
amount of cross-border payments on the SWIFT network for these
two months was approximately 42 million. This of course includes
Usage
B2B, business-to-consumer (B2C) and consumer-to-consumer (C2C)
payments and excludes any payments that occur outside the SWIFT
network. But it gives a starting point to understand the large volume
of commercial invoices that are processed annually around the world.
There are a large amount of standards, some of which are conflicting.

UN/CEFACT Cross Industry Invoice; ISO/IEC 19845:2015; GS1 EDI;
Key
European standard for eInvoicing (semantic model); PEPPOL (a set of
Standards
technical specifications); ISO 20022 (metadata model); OFD format
based on XML (data exchange format), a China-specific fixed format.
Major
There is a variance in standards for entity identification, date time
Differences
stamps, country codes and currency etc., together with differing KDE
between
definitions.
Standards

There are a large number of eInvoicing platforms, with some of the
major players including E-Fatura (Turkey); Factura Electronica (Peru);
SimplerInvoicing (the Netherlands); CHORUS-factures (France) and
Tradeshift (globally).
There are a number of platforms using the Universal Business

Language (UBL) format specifically. Beginning with the 2005
adoption of UBL for all public sector invoicing in Denmark (known as
OIOUBL), UBL has become the foundation for a number of successful
European public procurement frameworks, including EHF (Norway),
Svefaktura (Sweden), ePrior (European Commission DIGIT), the
National Health Service (UK), SimplerInvoicing (the Netherlands) and
Platforms PEPPOL, the pan-European public procurement platform.
The PEPPOL community (OpenPEPPOL) serves government agencies

and their suppliers from Austria, Denmark, France, Ireland, Italy,
Norway, Poland, and Sweden through a network of over 100 Access
Points all exchanging UBL conformant documents. Currently, there are
OpenPeppol members in 41 countries in total. (32 countries in Europe
plus Australia, Canada, China, India, Japan, Mexico, New Zealand,
Singapore and USA). OpenPeppol has Certified Access Points in 29
European countries plus Australia, Canada, China, New Zealand,
Singapore and USA, with Peppol Authorities placed in 17 countries.
The European eInvoice Service Providers Association (EESPA) also
recommends UBL for their Model Interoperability Agreement.
• Document: Invoice Number; Documents Remitted, Contract

Number, Buyer Contract, Sales Order Number, Customer Order
Number
• Party: Entity Type (Seller, Buyer, End Customer, Applicant of the
Letter of Credit); Entity (Text- name, address, telephone, fax
number, VAT reference); Bill to (entity type), Seller’s signatory
• Location: Country of Origin
• Goods: H.S. Number; Product
• Measure: Quantity; Unit of Measurement, Moisture
Key Data
• Date: Date Type (invoice date, B/L date, payment due date);
Elements
& Definitions • Transport: Loading Port; Discharge Port; Vessel Name
• Terms: Incoterm; Payment Term; Payment Method
• Banking: Bank details
• Amount: Unit Price; Tax Amount; Exchange Rate, Credit Amount,
Total Amount
Such a variety of standards and platforms has meant that there is

a lack of language codes for entity names and addresses, and a
difficulty in translating invoice content into requirements for payment
orders.
Adoption of digital commercial invoices is at different states around

the world. The EU mandates the implementation of eInvoicing in
Adoption public procurement. Given that mandates issued by governmental
bodies clearly have a huge impact on the level of adoption, some
governments might also think about following suit.

Other
Information
Framing the problem: These documents largely depend on analogue

processes. They must be printed and possibly stamped according to
some jurisdictions, carried as legally valid original paper documents,
and often endorsed by a state consulate.
There is also a large amount of conflicting standards, a ‘lack of

language codes for entity names and addresses’, and difficulty
translating invoice content into requirements for payment orders.
There is currently an international initiative led by the Financial
Stability Board (FSB) to enhance cross-border payments. In particular,
this initiative addresses the lack of by a global unique identifier for
Document- payment originators and beneficiaries (legal entities) in cross-border
Specifc payments 18.
Challenges
Finally there are issues with the takeup of invoicing. The EU mandates
the implementation of eInvoicing for public procurement, based
on a receiving capability of invoices presented in the European
Standard in each member state. But the suppliers are not mandated
to send invoices in a structured and electronic format- so contracting
authorities can manage electronic invoicing, but often don’t due to a
low takeup.
• Mandated analogue processes

• Differing standards & KDE definitions
• Poor take-up of e-invoicing
• SDOs should ensure standards are open; internationally

Document recognised; and cost/benefit effective
Specific • Governments should build on existing regulations, such as the EU’s
Solutions mandated e-Invoicing for procurement, to encourage suppliers to
digitalise
1
Financial Stability Board’s Recommendation: Options to Improve Adoption of The LEI, in Particular for Use in Cross-
border Payments (Jul 2022)

7.4. Packing List
Summary
A document which covers the physical delivery of goods from one

Purpose
physical site to another in line with a transport contract obligation.
Sender Seller of goods and services.
Receiver Buyer of goods and services.
The B2B document in its primary usage is not subject to private and/or
Legal Framework
public laws.
Usage There are no exact numbers available.
Key UNCEFACT Buy-Ship-Pay (BSP) is the Global Supply Chain Reference

Standards Data Model used by key industry stakeholders.
Major
Differences
Other standards have not yet been identified at global level.
between
Standards
Platforms Any platform could be used as this is a B2B data exchange.
• Document: Invoice Number; Seller Reference; Buyer Reference;

Transport Contract Number
• Party: Original Consignor (Seller); Final Consignee (Buyer);
Transport Service Provider
Key Data • Location: Port of Loading; Port of Discharge; Place of Delivery (UN/
Elements LOCODE)
& Definitions • Goods: Number of Packages; Type of Packaging (UNCEFACT
coded) and Shipping Marks; HS Code (Commodity Code);
Description of Goods; UNDG Number (Dangerous Goods); Proper
Shipping/ Technical Name (Dangerous Goods); Packaging
Requirements (Dangerous Goods)

• Measure: Temperature Setting for Reefer Containers’ Number of
Packages; Type of Packaging (UNCEFACT coded) and shipping
marks; volume (cube); weight
• Transport: Conveyance Reference Number (i.e. Voyage/ Flight/
Trip number); Mode of Transport (Air, Road, Rail or Sea) Coded
value UNCEFACT; Identifier (i.e. IMO Vessel Number or Vehicle
VIN)
• Terms: Incoterms
• Consignment: Consignment, including consignment item, based
(giving the details of a consignment item from the point of view
of the goods transported); Package based (giving the details of a
consignment from the point of view of the package used for the
transportation i.e. the logistics units within which the goods are
transported); Container Number
• Instructions: Delivery Instructions; Packaging Instructions
All semantic data elements quoted above have definitions aligned to

the UN/CEFACT BSP Reference Data Model Definitions.
Adoption Covered in Cross-Cutting Recommendations.
Document-
Specific No Document Specific Challenges.
Challenges
Document
Specific Covered in Cross-Cutting Recommendations.
Solutions
7.5. Bill of Lading
Summary
A document to provide evidence of contract of carriage; confirmation

Purpose
of receipt for the goods; and/or a document of title.
An ocean carrier issues the final Bill of Lading, but the drafting process
Sender
involves a freight forwarder or shipper too.

Presented to the nominated agent or office at destination in return
Receiver
for the goods.
Legal There are some countries which have national legislation on bills of
Framework lading or multimodal transport.
Usage Containerised Ocean Freight is estimated at 50 million per annum.
Key industry stakeholders have collaborated on and mapped their

Key
standards to the UN/CEFACT MMT Reference Data Model, such as
Standards
BIMCO; DCSA; and FIATA.
The minor difference between the Bill of Lading standards is purely

Major
around the business use cases. For containerised freight movements
Differences
the appropriate standard is DCSA; for Bulk Shipping BIMCO; and when
between
Freight Forwarders act as a multimodal transport operator,
Standards
FIATA eFBL.
For the electronic exchange of Bills of Lading in containerised ocean

shipping, the platform provider must be approved by the International
Platforms Group of Protection & Indemnity (IGP&I). As of September 2022, there
are seven approved platforms for the exchange of electronic Bills
of Lading.
• Document: Carrier Booking Reference Number; Freight Forwarders

Reference Number; Shippers Reference Number; Bill of Lading
Number; Contract/ Quote Reference Number
• Party: Shipper; Consigness; Notify Party; Carrier Party (using either
SCAC or SMFG code)
• Location: Place of Receipt; Port of Loading; Port of Discharge;
Place of Delivery; Place of Payment (UN/LOCODE)
• Goods: Number of Packages; Type of Packaging (CEFACT Coded);
HS Code (Commodity Code); Description of Goods; Product
identifier (i.e. product code or SKU); IMDG (Dangerous Goods);
Danger Level (Dangerous Goods); Proper Shipping/ Technical
Key Data Name (Dangerous Goods)
Elements • Measure: Temperature Setting for Reefer Containers; Temperature
& Definitions Units (i.e. CEL) coded from UNCEFACT; Total Number of
Containers; Volume; Weight
• Date: Estimated Time of Departure (ETD); Actual Time of Departure
(ATD); Estimated Time of Arrival (ETA); Actual Time of Arrival (ATA);
Estimated and Actual Dates for place of receipt and delivery (if not
port). Note: These above data attributes are separated into Pre
Leg, Main Leg and On Carriage which contains the above data
attributes along with the Means of Transport information below
• Transport: Conveyance Reference Number (i.e. Voyage Number);
Mode of Transport (Air, Road and Sea) Coded Value UNCEFACT;
Vessel Name; Identifier (I.e. IMO Vessel Number)
• Terms: Incoterms

• Consignment: Container Number; Container Size/ Type (ISO
Coded); Full or Empty Indicator
Each stakeholder group has its clear business case, and whilst there
are some very minor differences in use of business domain language,
their mappings to UN/CEFACT MMT Reference Data Model easily
allow interoperability through a common semantic anchoring.
A lack of interoperability has in the past hindered development and

growth in the uptake of electronic Bills of Lading, so adoption is
Adoption currently very limited. However through the contributions made by the
various stakeholder groups there is now clear alignment between them
using international standards.
Other
Information
Framing the problem: Part of the reluctance to adopt eBLs stems

from uncertainty around their legal validity. Only a very small number
Document- of jurisdictions give electronic trade documents the same standing
Specific as their paper counterparts, which means commercial eBL solutions
Challenges have had to get around this using contract law – whereby all parties
essentially agree that the eBL is equivalent to a paper BL.
• Uncertain legal landscape
Document
Specific Relevant actions covered in cross-cutting recommendations.
Solutions
7.6. Customs/Goods Declaration
Summary
A document to enable a declarant to indicate the customs procedure

Purpose
to be applied to the goods.
A variety of actors, such as the declarant, exporter, importer, owner of

Sender
the consignee, carrier etc.
Receiver Customs administration.

The legal basis for Customs/Goods Declarations is governed by the
Revised Kyoto Convention on the Simplification and Harmonisation of
Legal
Customs Procedures/ General Annex Standard 3.6, 3.7, 3.8, 3.11. Also
Framework
relevant is the World Customs Organisation (WCO) Recommendation
on the use of the WCO Data Model (DM).
According to the WCO Annual Report 2021/2022, there were 485.5

million Customs/Goods Declarations import declarations (of which 94.9%
Usage
were digital) and 506.4 million export declarations (of which 95.5% were
digital).
Standards are defined by the WCO Data Model, which also contains
Key
definitions for KDEs referring to the UN Trade Elements Directory
Standards
(ISO-7372).
Major
Differences
There are no other major global standards.
between
Standards
WCO Data Model is a platform agnostic standard. Customs

Platforms administrations may determine appropriate data exchange protocols
for their automated customs systems.
• Document: Document Reference Number; Conveyance reference

number; Transport Document Number; Invoice Number; UCR:
Trader Reference; Previous Document Number
• Party: Office of Declaration; Submitter; Office of Declaration;
Agent/ Exporter/ Importer; Carrier identification’ Supplier’
Warehouse
• Location: Location of Goods; Transport Document Issue Place;
Country of Origin
• Goods: Total Number of Items; Delivery Destination; Office of Exit;
Country of Exportation; Item Level Information; Description of
Goods; Commodity Classification; Number of Packages; type of
Packages Identification
Key Data • Measure: Total gross weight; total number of packages
Elements
• Date: Transport Document issue Date; Date of Arrival at place of
& Definitions
Discharge; Invoice Data
• Transport: Type of means of transport at arrival; identification of
means of transport crossing the border; type of means of transport
crossing the border; Type of means of transport at departure’
Transport Equipment Loaded Status; Shipping Marks
• Terms: Terms of Payment Code
• Amount: Total Invoice amount; Customs Value; Statistical Value
• Consignment: Equipment Identification Number; Seal
• Duty/ Tax: Duty/ Tax/ Fee Type (Header Level); Duty/ Tax Payment
Method/ Duty/tax/fee assessed; Charges; Valuation Method; Duty/
tax/fee type; Type of Duty regime; Duty/tax/fee assessed; Tariff
quantity/ supplementary quantity

Both the status of global adoption of the WCO DM and the adoption
Adoption of the electronic Custom/ Goods Declaration appear in the WCO
Data Model
Other
Information
Document-
Specific No Specific Challenges Identified.
Challenges
Document
Specific Relevant actions covered in cross-cutting recommendations.
Solutions
7.7. Insurance Certificates
Summary
The Insurance Certificate serves as proof of a cargo insurance cover

Purpose
for a shipment of goods.
Sender Insurance companies or authorised broker.
Dependent on the Incoterms agreed upon by trade parties (e.g. CIF

Receiver
dictates that the seller is responsible for the insurance).
Legal There is no evidence to confirm that the document is subject to public

Framework or private laws, or even local regulations.
Usage The exact number is not known, but many.
A lack of globally accepted standards may result in the non-

Key Standards
acceptance of some stakeholders of the document (e.g banks).

Major
Differences
As above, no globally accepted standards.
between
Standards
Insurance Certificates are issued by insurance companies through

pre-printed certificates, in-house digital platforms or through third
Platforms party providers (e.g., Oceanwide, Merimen). At present, the electronic
certificate issuance technology may also be integrated with other
digital platforms and issued electronically.
• Document: Certificate/master policy number/reference number

• Party: Insured Name; Name of Issuing Insurance Company; Claims
Key Data survey/ settling agent at the port of destination; party to notify
Elements immediately
& Definitions • Terms: Main Insurance Terms and Conditions
• Amount: Insurance Cover amount; currency of the insurance
cover; insurance premium
At present, insurance certificates are mostly electronic while some

Adoption remain unavailable electronically and still in traditional pre-printed
paper.
Other
Information
Framing the problem: Lack of standards or standard definitions for

Key Data Elements is a problem. Though mostly electronic, the system
also requires re-entry of shipment information as opposed to being
Document-
just auto-populated or reusing data already available from other
Specific
documents.
Challenges
• No common standards or definitions
• No auto-population or data reuse
• SDOs should develop a document stating the standard

requirements for insurance certificates, together with clear
Document definitions of KDEs (to be harmonised across other KTDs)
Specific
Solution • Allow integration or reuse of data in existing logistics digital
platforms so that the common data elements are not repeatedly
entered

8 Glossary of key trade
data elements
8.1. Methodology
The horizontal analysis consisted of identifying Consignment, Document, Date, Duty/Tax,

the data elements used across the key trade Goods, Location, Measure, Party, Transport,
documents. For each data category, key Terms. The standards in which these
data elements were identified based on their elements are defined were consulted, and
usage across several documents. The data recommendations on which standard to use
elements were marked as belonging to one and best practices issued where appropriate.
of the following categories: Amount, Banking,
8.2. Data analysis results
A total of 269 data elements were identified progress already achieved by both multilateral
across the seven key documents. The resulting and private sector organisations to ensure
data set, together with a horizontal analysis alignment between commonly used digital
to identify repeated data elements across the standards, this shows the feasibility of digital
key trade documents, provides guidance on trade without the creation of entirely new
how common data approaches and digital standards and taxonomies, but rather, by
standards could facilitate data sharing and adapting and building on practices already in
interoperability that would enable digital place.
trade at scale. When taken together with the
8.3. Recommendations and best

practice standards
Many standards have been developed over agencies. Best practice: Adopt a standard
the years to enable the representation of that is recognised internationally and has a
trade documents in electronic format and proven implementation experience from many
the interchange of documents between parties.
commercial operators and governmental

The following organisations issue standards that have been identified as meeting these criteria.
8.3.1. United Nations Centre for Trade Facilitation and Electronic Business (UNECE-UN/CEFACT)
Source https://unece.org/trade/uncefact/standards
The United Nations Centre for Trade Facilitation and Electronic

Business (UN/CEFACT) is a subsidiary intergovernmental body of the
United Nations Economic Commission for Europe (UNECE), which
Who
serves as a focal point within the United Nations Economic and Social
Council for trade facilitation recommendations and electronic business
standards.
UNECE-UN/CEFACT offers a portfolio of standards addressing

the needs of electronic data interchange between independent
What
computerised information systems. It covers all major trade documents
required by private and public organisations.
The UN/CEFACT set of standards is widely recognised and used for

national and international trade transactions in many sectors. The UN/
CEFACT standards make provision for many options to meet diverse
Why requirements, which are harmonised across industry sectors and
transport modes. Therefore, some industries have developed standard
subsets of the general UN/CEFACT standards to narrow down these
options and thus provide guidance meeting their specific needs.
UN/CEFACT publishes and maintains a Reference Data Model as a

subset of the UN Core Components Library (UNCCL) in the context of
a specific sector of activity. UNCCL is a library of business semantics.
The United Nations Trade Data Element Directory (UNTDED)-ISO 7372
Data
is a directory comprising a set of data elements intended to facilitate
an open interchange of data in international trade. UN/CEFACT is in
the process of submitting its BSP RDM to ISO as the future ISO 20197-1;
20197-2; and 20197-3.
8.3.2. OASIS Open
Source https://docs.oasis-open.org/ubl/UBL-2.3.html
OASIS Open is a non-profit standard body. It offers projects — including

Who opensource projects — a path to standardisation and de jure approval
for reference in international policy and procurement.

People join OASIS to advance projects for cybersecurity, blockchain, IoT,
emergency management, cloud computing, legal data exchange, and
Who much more. The technologies vary, but DSI's mission stays the same: to
advance the fair, transparent development of open-source software and
standards through the power of global collaboration and community.
UBL, defines a library of standard XML business documents supporting

the digitalisation of the commercial and logistical processes for
What domestic and international supply chains such as procurement,
purchasing, transport, logistics, intermodal freight management, and
other supply chain management functions.
OASIS UBL has been recognised as an ISO/IEC standard (ISO/IEC

19845:2015). It has become the foundation for several successful public
Why
procurement frameworks, including PEPPOL, the pan-European public
procurement platform.
OASIS UBL includes several semantic considerations. The UBL

Data data model design follows the principles of the UN/CEFACT Core
Components Technical Specification.
8.3.3. GS1: Electronic Data Interchange (EDI)
Source https://www.gs1.org/standards/edi
GS1 is a not-for-profit, international organisation developing and

maintaining standards for identification, automatic data capture and
Who data sharing. The goal is to provide a global language of business.
Through a network of local organisations in 115 countries, GS1 enjoys a
membership of more than two million companies.
GS1 Electronic Data Interchange (EDI) provides global standards for

electronic business messaging that allow automation of business
transactions commonly occurring across the entire supply chain. It
covers master data alignment, order, delivery, financial settlement, as
well as transport and warehouse management. The main business
What partners in scope are retailers, manufacturers, material suppliers,
healthcare operators and logistic service providers. The GS1 EDI
standards are available in EDIFACT format, fully compliant with UN/
EDIFACT and in XML format. The GS1 EDI standards specify the use
of globally unique GS1 identifiers for parties, locations, trade items,
logistic units, documents, and assets.

The GS1 EDI standards are used worldwide by close to 200,000
companies from various sectors including consumer goods
manufacturers and retailers, healthcare, transport & logistics. More
Why
than 40 trade documents are routinely implemented, the most popular
being purchase order, invoice, despatch advice, receiving advice,
inventory report and product data alignment.
GS1 provides an EDI Semantic Data Model, with a dictionary based on

business language definitions of shareable data, and syntax neutral
Data
models of the most relevant transactions. The GS1 semantics are
largely compatible with the UN/CEFACT Core Components.
8.3.4. The World Customs Organisation (WCO)
Source https://www.wcoomd.org/DataModel
The World Customs Organisation (WCO) is an independent

intergovernmental body whose mission is to enhance the effectiveness
and efficiency of customs administrations. Today, the WCO represents
184 customs administrations across the globe that collectively
Who
process approximately 98% of world trade. As the global centre of
customs expertise, the WCO is the only international organisation with
competence in customs matters and can rightly call itself the voice of
the international customs community.
The WCO Data Model has been the data foundation for global trade
interoperability for over two decades. It was developed to provide
a universal language for cross-border data exchange enabling the
implementation of Single Window systems and fuelling data analytics.
What It is a compilation of clearly structured, harmonised, standardised, and
reusable sets of data definitions and electronic messages designed
to meet the operational and legal requirements of customs and other
cross-border regulatory agencies (CBRAs) responsible for border
management.
Customs are an integral part of any international trade transactions.

Why The WCO Data Model is widely adopted and sometimes mandated by
customs organisations around the globe.
The WCO Data Model is mapped to the United Nations Trade Data
Elements Directory (UN/TDED) and leverages standards established
by international organisations such as the United Nations Centre for
Data
Trade Facilitation and Electronic Business (UNECE-UN/CEFACT) and
the International Organisation of Standards (ISO) to ensure global
interoperability.

8.3.5. International Organisation for Standardisation (ISO)
Source https://www.iso20022.org/
International Organisation for Standardisation (ISO) is an independent,

non-governmental international organisation with a membership of
167 national standards bodies. Through its members, it brings together
Who
experts to share knowledge and develop voluntary, consensus-based,
market relevant International Standards that support innovation and
provide solutions to global challenges.
ISO 20022 is a multi-part international standard prepared by ISO

Technical Committee 68 Financial Services. ISO 20022 describes a
common platform for the development of messages using:
• A modelling methodology to capture in a syntax-independent way

financial business areas, business transactions and associated
What message flows
• A central dictionary of business items used in financial
communications
• A set of XML and ASN.1 design rules to convert the message
models into XML or ASN.1 schemas, whenever the use of the ISO
20022 XML or ASN.1-based syntax is preferred
ISO 20022 is targeted at these standards initiatives that are generally

driven by communities of users looking for more cost-effective
Why communications to support specific financial business processes
with a particular view of facilitating interoperability with other existing
protocols.
The ISO 20022 Data Dictionary contains Business Concepts, Message

Concepts and Data Types. All these items are reusable and are called
Data
Dictionary Items. The Data Dictionary as a whole is under release
control.

8.3.6. Global Legal Entity Identifier Foundation (GLEIF)
Source https://www.gleif.org/en
Established by the Financial Stability Board in June 2014, the Global Legal
Entity Identifier Foundation (GLEIF) is tasked to support the implementation
and use of the Legal Entity Identifier (LEI). The foundation is backed and
Who overseen by the Regulatory Oversight Committee, representing public
authorities from around the globe that have come together to jointly drive
forward transparency within the global financial markets. GLEIF is a supra-
national not-for-profit organisation headquartered in Basel, Switzerland.
The Legal Entity Identifier (LEI) is a 20-character, alpha-numeric code

What based on the ISO 17442 standard developed by the International
Organisation for Standardisation (ISO).
The publicly available LEI data pool is a unique key to standardised

information on legal entities globally. By the end of Q4 2022, there were
Why
over 2.19 million active LEIs globally, 234 regulations mandating use of
the LEI in 21 jurisdictions globally.
Daily reporting of LEI and legal entity reference data is conducted

by the LEI issuing organisations using the Common Data File (CDF)
Data
formats. Level 1 Data defines the information on ‘who is who’. Level 2
Data defines information on ‘who owns whom’.
8.3.7. Digital Container Shipping Association (DCSA)
Source http://dcsa.org
A non-profit, independent organisation established in 2019 by several

of the largest container shipping companies, the mission of the Digital
Container Shipping Association (DCSA) is to shape the digital future
Who of container shipping. Together with its member carriers and other
stakeholders such as cargo owners, terminals and governments, DCSA
creates vendor-neutral, technology-agnostic, standards for IT and non-
competitive business practices.
Amongst other standards, like for tracking and tracing cargo and
What vessel schedules, DCSA maintains a standard for the electronic Bill of
Lading for container shipping.
To move containerised transport forward in terms of customer experience,

Why efficiency, collaboration, innovation and respect for the environment, by
working towards the widespread adoption of digital standards.
All of the standards created by DCSA are open source and free of
Data charge for all stakeholders to build and innovate upon. They are
available at http://dcsa.org

8.3.8. International Federation of Freight Forwarders Associations (FIATA)
Source https://fiata.org/
A non-governmental, membership-based organisation representing

Who
freight forwarders in some 150 countries.
Amongst other documents, the International Federation of Freight

Forwarders Associations (FIATA)maintains a standard for the warehouse
What
receipt document, https://fiata.org/resources/,as well as a standard for
the electronic House Bill of Lading https://fiata.org/digital-bill-of-lading/
To facilitate the exchange of data between freight-forwarders and

Why their stakeholders, through the platform of their choice, by promoting
the usage of digital standards.
FIATA’s data standards are open source and free of charge for all
Data
stakeholders. They are available at: https://github.com/FIATA
8.3.9. Baltic and International Maritime Council (BIMCO)
Source https://www.bimco.org/
Baltic and International Maritime Council (BIMCO) is the world’s largest

international shipping association, with over 2,000 members in more
Who than 130 countries, representing over 60% of the world’s tonnage. Its
global membership includes shipowners, operators, managers, brokers
and agents. BIMCO is a non-profit organisation.
BIMCO has been producing paper standards for more than a century.
What It now maintains a standard for the electronic Bill of Lading for wet and
dry bulk shipping, https://www.bimco.org/ebl.
To help promote and support digital transformation and harmonised

Why open standards across all sectors of the shipping industry through
cooperation and collaboration.
BIMCO’s data standard for bulk shipping bills of lading is an open

Data
standard freely available to developers.

8.4. Data elements
The analysis of the data elements did not standard, the working group decided to issue
reveal any major conflicts in definitions. recommendations on best practice for those
While not identical across the various key data elements used across multiple trade
standards, these definitions are sufficiently documents.
interoperable for the differences to not cause
problems of interpretation. The general principles of the best practice
are based on a commitment to using globally
Rather than creating a new glossary of recognised standards and globally recognised
terms that could possibly become a new identifiers for relevant objects and subjects.
8.4.1. Country code
Requirement Many, if not all, trade documents include the coding of countries.
The recommendation is to use ISO 3166 to define internationally

recognised codes of letters and/or numbers that can be used to refer
Recommendation
to countries and their subdivisions. ISO 3166 does not define the names
of countries – this information comes from United Nations sources.
Using codes saves time and avoids errors as instead of using a

country’s name (which will change depending on the language being
Rationale
used), we can use a combination of letters and/or numbers that are
understood all over the world.
Source https://www.iso.org/iso-3166-country-codes.html
8.4.2. Currency code
Requirement Many, if not all, trade documents include the coding of currencies.
The recommendation is to use ISO 4217, which specifies the structure

Recommendation for a three-letter alphabetic code and an equivalent three-digit
numeric code for the representation of currencies.
ISO 4217:2015 is intended for use in any application of trade,

commerce, and banking, where currencies and – where appropriate
Rationale
-funds are required to be described. It is designed to be equally suitable
for manual users and for those employing automated systems.
Source https://www.iso.org/iso-4217-currency-codes.html

8.4.3. Date and time
Requirement All trade documents include a representation of date and time.
The recommendation is to use ISO 8601 to help remove doubts that

can result from the various day–date conventions, cultures and time
Recommendation zones that impact a global operation. It gives a way of presenting
dates and times that is clearly defined and understandable to both
people and machines.
When dates are represented with numbers, they can be interpreted

in different ways. For example, 01/05/12 could mean January 5, 2012,
Rationale
or May 1, 2012. On an individual level this uncertainty can be very
frustrating; in a business context it can be very expensive.
Source https://www.iso.org/iso-8601-date-and-time-format.html
8.4.4. Party
There is a requirement to identify uniquely and unambiguously the

Requirement
main legal entity and supply chain roles referred to in trade documents.
The recommendation is to use globally unique and unambiguous

identifiers for the identification of the sender, receiver, and other
parties relevant to the electronic interchange of a trade document.
• The Legal Entity Identifier (LEI) is applicable to legal entities,

which include, but are not limited to, unique parties that are
legally or financially responsible for the performance of financial
transactions or have the legal right in their jurisdiction to enter
independently into legal contracts, regardless of whether they
are incorporated or constituted in some other way (e.g. trust,
partnership, contractual). It includes governmental organisations,
Recommendation supranationals and individuals when acting in a business capacity,
but excludes natural persons. The LEI is managed by GLEIF and
information on assigned LEIs is publicly and freely available.
• The Business Identifier Code (BIC) is used for addressing
messages, routing business transactions and identifying business
parties within the financial services industry. SWIFT in its role of
ISO registration authority issues BICs. The BIC is used in financial
transactions, client and counterparty databases, compliance
documents and many others, although not all BICs are connected
to the SWIFT network used by banks and other institutions for
financial messaging.

• The Trade Identification Number (TIN) is a globally unique
identification number that can be used for retrieving underlying
information relating to an economic operator involved in cross-
border supply chain, to enable customs administrations to perform
the appropriate actions, particularly in the context of mutual
recognition arrangements/agreements of authorised economic
operators.
• The GS1 Global Location Number (GLN) is widely used in multiple
business processes to identify parties such as a corporation,
subsidiary, or government body and functions, such as
organisational subdivisions or departments.
• Government agency trader identifiers will also be important.
All trade documents require the identification of parties. Using the

plain name of the party or codes that are only meaningful to the
sender and receiver of a document is inefficient and prone to errors.
Parties are identifiable by a number of globally unique identifiers for

Rationale all sorts of business processes and it would be impractical to suggest
that all forms of electronic data interchange migrate to sole use of
LEI. A way forward is to encourage the mapping of identifiers like the
mapping between BIC and LEI, see https://www.gleif.org/en/lei-data/
lei-mapping.
LEI: https://www.gleif.org/en/about-lei/introducing-the-legal-entity-
identifier-lei
BIC: https://www.swift.com/standards/data-standards/bic-business-
identifier-code
Source
TIN: https://www.wcoomd.org/en/topics/facilitation/instrument-and-
tools/tools/trader-identification-number.aspx
GLN: https://www.gs1.org/standards/id-keys/gln, also recognised by

ISO/IEC 6523
8.4.5. Location
There is a requirement to identify uniquely and unambiguously the

Requirement
locations referred to in trade documents.
The recommendation is to use globally unique identifiers for the

Recommendation identification of physical or digital locations relevant to the electronic
interchange of a trade document.

• The GS1 Global Location Number (GLN) can be used to identify
physical or digital locations. A physical location is a tangible place
that may be represented by an address, coordinates, or other
means. A digital location is an electronic (non-physical) address
that is used for communication between computer systems.
The GS1 GLN and EDI standards are used worldwide by close to
200,000 companies from various sectors including consumer
goods manufacturers and retailers, healthcare, transport &
logistics.
• The United Nations Code for Trade and Transport Locations is
commonly more known as “UN/LOCODE”. Although managed and
maintained by the UNECE, it is the product of a wide collaboration
in the framework of the joint trade facilitation effort undertaken
within the United Nations. Currently, UN/LOCODE includes over
103,034 locations in 249 countries and territories. It is used by
most major shipping companies, by freight forwarders and in the
manufacturing industry around the world.
All trade documents require the identification of locations. Using only

Rationale the postal address or using proprietary coding solutions in electronic
documents is inefficient and prone to errors.
GLN: https://www.gs1.org/standards/id-keys/gln, also recognised by

Source ISO/IEC 6523
UN/LOCODE: https://unece.org/trade/uncefact/unlocode
8.4.6. Product
All trade documents refer to the products that are the object of the
Requirement
transactions.
The recommendation is to use globally unique identifiers for products

that are traded. ISO/IEC 15459-4 specifies a unique string of characters
for the identification of individual products and product packages.
The standard makes provision for different coding schemes managed
by recognised issuing agencies, including GS1. The GS1 Global Trade
Item Number (GTIN) is used to identify any item (product or service)
Recommendation
upon which there is a need to retrieve predefined information and that
may be priced, or ordered, or invoiced at any point in any supply chain.
This definition covers raw materials, consumer packaged goods,
healthcare items and items for general distribution. The GS1 GTIN is
used and applied by millions of companies around the world. A free
and publicly available service enables to verify the product’s identity.

All trade documents require a reference to the goods being traded.
Rationale Textual descriptions or proprietary coding solutions is inefficient and
prone to errors in electronic documents.
ISO/IEC 15459-4: https://www.iso.org/standard/54782.html

Source
GTIN: https://www.gs1.org/standards/id-keys/gtin
8.4.7. Logistic unit
Requirement References to the logistic units is required in some trade documents.
The recommendation is to use globally unique identifiers for logistic

units. ISO/IEC 15459-1 specifies a unique string of characters for
the identification of individual transport units. The standard makes
provision for different coding schemes managed by recognised issuing
Recommendation
agencies, including GS1. The GS1 Serial Shipping Container Code
(SSCC) can be used by companies to identify a logistic unit, which
can be any combination of trade items packaged together for storage
and/ or transport purposes; for example, a case, pallet or parcel.
Proprietary coding solutions are inefficient and prone to errors in

Rationale
electronic documents.

Source
SSCC: https://www.gs1.org/standards/id-keys/sscc
8.4.8. Consignment
UN/CEFACT defines a consignment as a separately identifiable

collection of goods items (available to be) transported from one
Requirement consignor to one consignee via one or more modes of transport
as specified in one single transport document. References to
consignments are required in many trade documents.
The recommendation is to use globally unique identifiers for

consignments. ISO/IEC 15459-6 specifies a unique string of characters
for the identification of groupings of products, product packages,
Recommendation
transport units and items. The standard makes provision for different
coding schemes managed by recognised issuing agencies, including
GS1.

Three solutions are recommended:
1. The Global Shipment Identification Number (GSIN) is a number

assigned by a seller and shipper of goods to identify a shipment
comprised of one or more logistic units that are intended to be
delivered together.
2. The Global Identification Number for Consignment (GINC) can

be used by transporters and freight forwarders to identify a
consignment comprised of one or more logistic units that are
intended to be transported together.
3. Unique Consignment Reference (UCR) standardised by the World

Customs Organisation.
Proprietary coding solutions are inefficient and prone to errors in

Rationale
electronic documents.
GSIN: https://www.gs1.org/standards/id-keys/gsin
Source GINC: https://www.gs1.org/standards/id-keys/ginc
UCR: https://www.wcoomd.org/en/topics/facilitation/instrument-and-
tools/tools/ucr.aspx
8.4.9. Container
The identification of containers being transported is a requirement in

Requirement
several trade documents.
The recommendation is to use ISO 6346, Freight containers — Coding,

identification and marking. This document provides a system for the
identification and presentation of information about freight containers.
Recommendation The identification system is intended for general application, for
example in documentation, control, and communications (including
automatic data processing systems), as well as for display on the
containers themselves.
ISO 6346 is recognised internationally for the identification of

Rationale
containers.
Source https://www.iso.org/standard/83558.html

8.4.10. Commodity code
The classification of goods is required by customs organisations for the

Requirement calculation of customs tariffs. Other goods classification systems may
be used by trading partners.
The Harmonised System (HS) nomenclature maintained by the WCO,

is used worldwide for the uniform classification of goods traded
internationally and has been accepted by all contracting parties to the
Harmonised System Convention.
The United Nations Standard Products and Services Code (UNSPSC),

Recommendation managed by GS1 US for the UN Development Programme (UNDP), is an
open, global, multi-sector standard for efficient, accurate classification
of products and services.
The Global Product Classification (GPC) classifies products by

grouping them into categories based on their essential properties as
well as their relationships to other products.
The Harmonised System is a legal requirement in several trade

Rationale documents. Commercial classifications of products can be used
additionally to facilitate trade transactions.
HS: https://www.wcoomd.org/en/faq/harmonized_system_faq.aspx
Source UNSPSC: https://www.unspsc.org/
GPC: https://www.gs1.org/standards/gpc
8.4.11. Terms
Many trade documents need to refer to the commercial terms of the

Requirement
trade transactions.
Recommendation The recommendation is to use Incoterms in relevant trade documents.
The Incoterms or International Commercial Terms are a series

of pre-defined commercial terms published by the International
Chamber of Commerce (ICC) relating to international commercial
Rationale
law. Incoterms define the responsibilities of exporters and importers in
the arrangement of shipments and the transfer of liability involved at
various stages of the transaction.
https://iccwbo.org/resources-for-business/incoterms-rules/
Source
incoterms-2020/

8.5. Annex: Categorised data elements usage by document
CoO = Certificate of Origin, INV = Commercial Invoice, WR = Warehouse Receipt, PL = Packing

List, BL = Bill of Lading, CD = Customs Declaration, IC = Insurance Certificate
CoO INV WR PL BL CD IC
Amounts
Customs Value X
Statistical Value X
Total Invoice Amount X X
Declared Value X
Freight and Charges X
Prepaid Amount X
Collect Amount X
Currency X
Insurance Cover Amount X
Insurance Premium X
Credit Amount X
Exchange Rate X
Tax Amount X
Banking
Bank Details X
Consignment/Container/
Equipment
Container Number X X
Container Size/Type (ISO Coded) X
Full or Empty Indicator X
Equipment Identification number X X
Seal X X
Details of a Consignment - Goods X
Transported View
Details of a Consignment - Package X
View
Documents
Bill of Lading Number X
Carrier Booking Reference Number X
Contract/Quote Reference Number X X

Freight Forwarders Reference X
Number
Shippers Reference Number X
Conveyance Reference Number X
Document Reference Number X
Invoice Number X X X
Previous Document Number X
Trader Reference X
Transport Document Number X X X
Unique Consignment Reference X
(UCR)
Letter of Credit No X
Certificate/Master Policy Number/ X
Reference Number
Buyer Contract X X
Customer Order No X
Sales Order No X
Seller Reference X
Insurance X
CoO Certificate number X
Date & time
Actual Time Arrival (ATA) X X
Actual Time Departure (ATD) X
Estimated Time Arrival (ETA) X
Estimated Time Departure (ETD) X
Estimated and Actual Dates for X
Place of Receipt and Delivery
Invoice Date X X
Document Issue Date X X X X X X X
Bill of Lading Date: [Date Which X
Vessel Finish Loading]
Shipped on Board Date X
Received for Shipment Date X
Payment Due Date X
Date and Signature of the Issuance X
of the Document
Duties/tax
Duty Tax Fee (Item level) X

Duty/Tax Payment Method, Coded X
Duty/Tax/Fee Assessed X
Duty/Tax/Fee Type X
Tariff Quantity/Supplementary X
Quantity
Type of Duty Regime, Coded X
Goods
Description of Goods X X X X X X
Product Identifier X X X X
No of Packages X X X X X
Harmonised System (HS) X X X
Commodity Code
Type of Packaging X X
Dangerous Goods Packaging X
Requirements
United Nations Dangerous Goods X
(UNDG) Number
The International Maritime X
Dangerous Goods (IMDG) Code
Proper Shipping / Technical Name X X
Danger Level X
Location
Place of Delivery X X
Place of Payment X
Place of Receipt X
Place of Delivery X
Onward routing location X
Port of Discharge X X X
Port of Loading X
Country of Exportation, Coded X
Country of Origin, Coded X X X X
Delivery Destination X
Empty Container Pick-up Location X
Location of Goods, Coded X
Office of Exit, Coded X
Transport Document Issue Place X
Measure

Temperature Setting for Reefer X X
Containers
Reefer Humidity X
Reefer Ventilation X
Temperature Units (i.e. CEL) Coded X
from UNCEFACT
Volume X X
Weight X X X
Total Number of Containers (or X
Equipment)
Container Tare Weight X
Total Gross Weight X X X X
Total Number of Packages X
Moisture Content According to X
Certificate of Analysis
Party
Transport Document Issuer X
Freight Payer X
Consignee X X
Notify Party X X
Shipper Forwarding Agent X
Consignee Forwarding Agent X
Shipper X
Carrier Identification X X
Exporter, Coded X X
Importer, Coded X X
Office of Declaration, Coded X
Supplier, Coded X X
Warehouse, Coded X
Certifying Body (Details of the X
Issuing Organisation, Including
Place and the Date of Issuance and
Authorisation).
Claims Survey/Settling Agent at the X
Port of Destination
Insured Name X
Name of Issuing Insurance X
Company (Stamp & Signature)

Bill To X
Seller X X
Buyer X X
End Customer X
Applicant of the Letter of Credit X
Transport Services Provider X
Depositor of the Goods X
Warehouse Keeper X
Warehouse Operator X
Transport
Conveyance Reference Number X X
(i.e., Voyage Number)
Identifier (i.e., IMO Vessel Number) X X
Mode of Transport (Air, Road, and X X
Sea) Coded Value
Vessel Name X X
Identification of Means of Transport X
Crossing the Border
Transport Equipment Loaded Status X
Type of Means of Transport at X
Arrival
Type of Means of Transport at X
Departure
Type of Means of Transport X
Crossing the Border
Particulars of Transport Details X
Means of Transport X
Terms
Incoterms X X
Terms and Conditions X
Carrier Clauses X
Terms of Payment Code X
Main Insurance Terms and X
Conditions
Payment Method According to the X
Contract
Payment Term Agreed in the X
Contract

9 Appendix A: Working
Group Members
Associations/
Standards Bodies User Companies
BIMCO Anglo American
DCSA BHP
FIATA CMA CGM
GLEIF DANGOTE
GS1 ExxonMobil
ICC FINASTRA
ICISA HSBC
IUMI INDITEX
ISO Rio Tinto
SWIFT Swiss Reinsurance
UNECE- UN/CEFACT VALE
WCO

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Key Trade

Key Trade Documents & Data Elements Report 1

Shared Key Data Elements1

Levels of Levels of Levels of Levels of

CERTIFICATE CUSTOMS / GOODS PACKING BILL OF

UN/CEFACT WCO DATA MODEL

from Seller / Exporter Seller / Exporter Seller / Exporter Ocean Carrier

2 Key Trade Documents & Data Elements Report

Levels of Levels of Levels of

COMMERCIAL WAREHOUSE INSURANCE

ISO/ IEC 19845:2015

Seller / Exporter Warehouse Keeper Insurance Company

Buyer / Importer Buyer / Importer Buyer / Importer

Key Trade Documents & Data Elements Report 3

4 Key Trade Documents & Data Elements Report

• Use existing agreements to adapt to a changing environment: Governments and

• Pursue a “digital by default” strategy: Issuing and acceptance organisations should

Key Trade Documents & Data Elements Report 5

Digitisation involves converting data from an analogue to digital format

4 ICC (2018), Global Trade - Securing Future Growth

6 Key Trade Documents & Data Elements Report

2.1. Unpacking the KTDDE’s findings

The report’s recommendations have implications for a number of key stakeholders:

• Standards Organisations: Given the importance of cohesive and common data

• Issuing and Acceptance Organisations: The cross-cutting recommendations of this report

Key Trade Documents & Data Elements Report 7

10 ICC (2018), Global Trade- Securing Future Growth

8 Key Trade Documents & Data Elements Report

Set against the current state of digital

12 SWIFT (2021), Digitising Trade: The time is now

Key Trade Documents & Data Elements Report 9

4.1. Key findings from analysis The document-by-document analysis also

10 Key Trade Documents & Data Elements Report

As the World Economic Forum notes, “trade

Key Trade Documents & Data Elements Report 11

4.4.2. Certificate of Origin (CoO): SDOs should develop a document stating

16 ICC, Electronic Certificate of Origin (eCO) - Best Practices

12 Key Trade Documents & Data Elements Report

Key Trade Documents & Data Elements Report 13

6.1. Methodology are being leveraged to overcome

14 Key Trade Documents & Data Elements Report

7.1. Warehouse Receipts

A Warehouse Receipt (WR) is a document most commonly issued by

The creator or sender of the document is most commonly the

The specific legal framework of the WR is determined by the national

The FIATA Warehouse Receipt (FWR) is used in freight forwarders’

It is difficult to estimate the number of WRs in circulation, however it

Key Trade Documents & Data Elements Report 15

Currently this document is being issued in a paper format, but

• Party: Supplier of the Goods; Depositor of the Goods; Warehouse

Once digitalisation of the document is complete, greater awareness

The use of WR is limited in many developing countries because of

• Under-developed legal & regulatory environment

• Encourage the global adoption of the UNIDROIT Model Law on

16 Key Trade Documents & Data Elements Report

A form which certifies expressly that a set of goods originated in a

Varies between business-to-business (B2B) and business-to-

The main framework is provided by the WTO Agreement on Rules