Key Trade Documents Can be Digitalised Under Proposed Changes to Electronic Transactions Law

The Electronic Transactions (Amendment) Bill was read in Singapore's Parliament for the first time on 4 January 2021. The Bill is part of the Government's efforts to encourage the wider digitalisation of commercial and legal documents and would bring trade documents representing transferable rights or obligations, such as bills of lading, warehouse receipts, negotiable instruments, and documents of title, under the Electronic Transactions Act. If passed, the Bill will pave the way for faster document processing, lower costs, and lower risks of fraud.

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