The ICC Banking Commission conducted its final meeting of 2024 virtually via Teams on 20-21 November. Four separate portions of the event open to Banking Commission members and ICC National Committee representatives took place.
Alignment between UK Electronic Trade Documents Act 2023 and MLETR. Criteria for electronic trade document reliability, the Act's impact on eUCP, and systems for digitising trade.
The evolution from traditional paper Bills of Lading to electronic formats, detailed in ICC Opinion TA.929, reflects a seismic shift; as eB/Ls gain traction through digital platforms like Bolero and pioneering blockchain technology, legal recognition and harmonization lag.
This is the full text of the UK Electronic Documents Act (UK EDA) of 2023, including all definitions, how the law applies, and when it went into effect.
UK Electronic Trade Documents Act 2023 marks a sea change in trade finance industry. At its core, the Act does something incredibly simple: it provides legal status to electronic trade documents, making them equivalent to their paper counterparts
Despite advancements, eUCP has limited use, especially in China. The article discusses the challenges of electronic presentation and underscores the importance of recognizing electronic records on par with paper documents in LC transactions.
Global Shipping Business Network (GSBN), a technology consortium building blockchain- enabled operating systems geared toward global trade, announced two new
