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About Seaborne Settlement Solution

SeaborneSS is a platform for instant payment processing in maritime cargo industry. The current processing inefficiency partially is a reason for demurrage, inability to match in time product and services delivered vs payment and others. Any shipping involves several participants from different location around the globe. To settle a particular shipment logistic companies should create a chain of prepayment to many counterparts: shipowner, ports, fueled, crew, etc. Payment execution could take from 2 to 10 days. Such a long and inconsistent execution is explained by the complexity of global international payments involving a number of jurisdictions, both clients and banks and correspondent bank in between. Each bank involved should make its own compliance checks. Seaborne Settlement Solution puts all the parties of the payment process within one platform and makes payments instant, easy and safe by digitalization of compliance and invoice checking procedures.


Achievements
  • validation of concept

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