Primechain-Guarantee

Programmable blockchain for documentary credits

Introduction

    Primechain-GUARANTEE is a blockchain repository of Letters of Undertaking, Bank Guarantees, Letters of Credit and other Documentary Credits.

    Primechain-GUARANTEE records are stored in the blockchain in an encrypted form and can only be viewed by banks that have been "whitelisted" by the issuer bank.

    This ensures data privacy and confidentiality while at the same time ensuring that records are shared only between banks that trust each other.

    Each entry on the blockchain is digitally signed by the member bank. Regulator nodes enable real-time supervision by the authorities. The system is API driven and can easily be integrated with the banks' core banking and other legacy systems

Supported documents

  • Bank guarantee
  • Letter of credit
  • Commercial Invoice
  • Transport Document covering at least two different modes of transport
  • Bill of lading
  • Non-Negotiable Sea Way Bill
  • Charter Party Bill of Lading
  • Air Transport Document
  • Road Transport Document
  • Rail Transport Document
  • Inland Waterway Transport Document
  • Courier Receipt, Post Receipt or Certificate of Posting
  • Clean Transport Document
  • Insurance Document and Coverage