The Electronic Trade Documents Bill 2022: Disruptive Technology for Global Supply Chains.

The Electronic Trade Documents Bill 2022 is currently reading in the Lords before being passed onto the Commons.70 percent of international trade is done with the help of documents that are backed by English law;

The International Chamber of Commerce (ICC), the United Nations Model Law on Electronic Transferable Records (MLETR), and the UK Parliament (through the Law Society of England and Wales) are all working on a bill called the Electronic Trade Documents Bill. Bills of lading, bills of exchange, contracts, commercial invoices, and letters of credit are old ways of exchanging paper documents that have been used for hundreds of years.

In conclusion, and following in the footsteps of early adopters like the United Arab Emirates and Singapore, we should embrace a global digital trade environment to help SMEs, corporates, and their banks close the +$2 trillion annual global trade finance gap while reducing the number of paper documents that travel around the world by courier.

After many years of research, our team wants to put together its recommendations, which will be based on disruptive technology. They will point to the URDTT in particular and the ICC's guidelines on how unified data models can help with this revolution.