Clifford Chance

UK Electronic Trade Documents Act 2023: A Further Step Towards Paperless Trade

1 August 2023

On 20 July 2023, the Electronic Trade Documents Act 2023 (ETDA) received Royal Assent and became law in the UK. From  20 September 2023, the ETDA will allow for the legal recognition of trade documents such as bills of lading and bills of exchange in electronic form. 

The aim of the ETDA is to help to rectify deficiencies in the treatment of electronic trade documents under English law. This will allow businesses to take advantage of reduced costs and accelerated transaction timelines, increasing trade and access to trade finance. Prior to the ETDA, electronic documents did not have the same legal recognition as their paper counterparts under English law. The ETDA will give electronic equivalents of paper trade documents the “same legal treatment, effects and functionality” as their paper equivalents.  

In this briefing, we consider some of the ETDA's key provisions and its likely impact on global trade.

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