In Part 1 of this article I wrote a bit about the history of globalisation and trade and its connection with the bill of lading and the road to Electronic Bills of Lading..
I also posed the question whether you and your country are ready for electronic bill of lading..
An electronic bill of lading is a paperless bill of lading that is issued electronically said to fulfill the above functions in the same manner as a traditional paper bill of lading..
Many believe that the electronic bill of lading will be a game changer in the shipping industry with its faster, efficient transactions, reduction in costs with greater security and less risk..
While various countries have various regulations and legislations which allows contracts to be created and signed electronically, the legal status of the electronic bill of lading seems clear as mud..