intermediary, said it will start using Bolero.net services by yearend.
It will use the system to exchange monthly accounting information electronically in an attempt to cut administrative costs.
The system from London-based Bolero Ltd. is the result of five years of effort centered at Swift, the Society for Worldwide Interbank Financial Telecommunication. Bolero.net, which became operational in September, is designed to facilitate the secure paperless exchange of international trade documents, such as bills of lading, via the Internet.
Tokyo-based Mitsui, which has 900 trade partners in 93 countries, was one of 120 companies that tested Bolero.net this year.
"Mitsui is demonstrating its market leadership in e-commerce with this commitment to Bolero.net," said Peter Scott, a director at Bolero. Its system, he said, "provides the world trade community with a way of doing business electronically that is secure, offers legal certainty, has adopted open standards, and is guaranteed by a neutral third party."