EVALUATION OF EFFORTS OF PRIVATE AND INTERNATIONAL ORGANIZATIONS AT RESOLVING LEGAL CHALLENGES OF ELECTRONIC BILLS OF LADING WORLDWIDE

Abstract

This paper is an evaluation of efforts of private and international organizations at resolving the legal issues which have inhibited the implementation of electronic bills of lading (e-Bs/L) in international trade. Since the introduction of paper bills of lading (Bs/L) in the 13th century, it has served as a crucial document in international trade. However, this very important document subsequently developed some flaws, ranging from late arrival of the document at the destination port to fraud and excessive costs owing to the volume of paper work involved. Stakeholders’ efforts at seeking solution to these problems led to the introduction of e-Bs/L in international trade 40 years ago. Notwithstanding, its implementation has been very slow. The objectives of this paper are to: evaluate the efforts made thus far by private and international organizations towards resolving the legal issues which have inhibited the implementation of e-Bs/L in international trade; and suggest the way forward. This paper adopted the doctrinal research methodology, employed the functional equivalence approach and found that private and international organizations have made tremendous efforts at resolving the legal issues inhibiting the implementation of e-Bs/L in international trade. Accordingly, the paper concluded that these challenges can be resolved by the adoption of the relevant and specific solutions respectively proffered by the Comite Maritime International Rules (CMI Rules) and the United Nations Commission on International Trade Laws’ (UNCITRAL) Model Laws and strongly recommended the incorporation of same into national legal frameworks for the recognition of e-Bs/L worldwide.