“There are multiple advantages to single trade windows, including security, confidence, transparency, increased speed and simplification of processes, all of which reduce risk and therefore costs of finance and insurance,” he concludes.
The UK Electronic Trade Documents Bill was something of a surprise inclusion in the UK government’s proposed legislative agenda for the 2022/23 parliamentary session, despite the Law Commission’s publication of recommendations and draft legislation to allow for the legal recognition of electronic versions of trade documents, such as bills of lading and bills of exchange, in March.
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