Electronic Trade Documents Act 2023

The Electronic Trade Documents Act 2023 (c. 38) is a United Kingdom Act that received Royal Assent on 20 July 2023 and came into force on 20 September 2023. It extends to England and Wales, Scotland and Northern Ireland. It gives effect to the Law Commission of England and Wales's report on electronic trade documents of 16 March 2022. UNCITRAL lists it as legislation influenced by the Model Law on Electronic Transferable Records. Section 1 defines a paper trade document as a paper document of a type commonly used in trade, transport or their financing whose possession is required to claim performance; a bill of lading is among the listed examples. Under section 2, electronic information is an electronic trade document if a reliable system is used to identify it, protect it against unauthorised alteration, ensure that no more than one person can exercise control at a time, let the controller demonstrate control, and ensure that a transfer removes the transferor's control. Section 2(5) lists factors for judging reliability. Section 3 lets a person possess, indorse and part with possession of an electronic trade document, which has the same effect as its paper equivalent. Section 4 governs change of form. Under section 8(3), sections 3 and 4 do not apply to documents issued before 20 September 2023.