Electronic (Paperless) Trading – TradeGo PTE. LTD (TradeGo eBL): Approval of second version of TradeGo User Agreement (2024.06.12)

IG Circular

Published: 8 July 2024

Circular issued by International Group clubs

Members are referred back to the circular dated 25 January 2023 by which the International Group approved TradeGo User Agreement (2022.12.15) ('the User Agreement'). The User Agreement remains approved for the purposes of Club cover.

This notice confirms approval by the International Group of a second version of the User Agreement: TradeGo User Agreement (2024.06.12) ('the Second User Agreement').

The most significant change is that in addition to the electronic bills of lading framework in the User Agreement, the Second User Agreement allows for interoperability, namely the transfer of electronic bills of lading to, and from, a third-party platform. The Second User Agreement contemplates that Users may make requests for interoperability to be considered, and anticipates that TradeGo will seek to enter into platform-to-platform agreements on interoperability with third-party platform providers. Only electronic bills of lading subject to laws that recognise their validity as equivalent to paper bill of lading, will be eligible for interoperability ('MLETR e-bills').

Other exclusions of cover under Group Club Rules relating to the carriage of cargo will of course continue to apply in respect of all the approved providers in the same way as for paper systems. These exclusions include discharge at a port or place other than the port or place provided for in the contract of carriage, the issue / creation of an ante or post-dated electronic document / record, and the delivery of cargo without the production of the negotiable electronic document / record, which in the case of an approved electronic trading system will mean delivery of cargo other than in accordance with the rules of that trading system.

All Clubs in the Group have issued a similar circular.