On 13 October, the Department for Digital, Culture, Media and Sport issued a news release about this Bill which would make digital documentation legally recognised, aiming to reduce processing times for electronic documents to 20 seconds and see carbon emissions reduced by at least 10%. Business-to-business documents such as bills of lading and bills of exchange – used to help importers and exporters complete transactions – currently have to be paper-based. Under the Bill, digital trade documents will be put on the same legal footing as their paper-based equivalents and it would modernise old legislation such as the Bills of Exchange Act 1882 and the Carriage of Goods by Sea Act 1992. Commonly used documents in the UK for the trade in or transport of goods which the Bill will enable to become electronic include:
- a bill of exchange
- a promissory note
- a bill of lading
- a ship’s delivery order
- a warehouse receipt
- a mate’s receipt
- a marine insurance policy
- a cargo insurance certificate
https://www.gov.uk/government/news/paperless-trade-for-uk-businesses-to-boost-growth
https://www.lawcom.gov.uk/electronic-trade-documents-bill-introduced-to-parliament/
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