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SAFETY4SEA

IG Clubs approve updated system for electronic trading

by The Editorial Team
June 15, 2021
in Smart
mpa singapore

Credit: Shutterstock

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The International Group of P&I Clubs recently approved an updated version of essDOCS (former ESS)’s electronic trading system for the issue, transfer, and surrender of original bills of lading.

To remind, IG clubs had previously approved Electronic Shipping Solutions (ESS) version DSUA 2013.1.

As explained this new version is called DSUA 2021.1 and supersedes essDOCS’s previous electronic trading system DSUA 2013.1, which remains approved for the purposes of Club cover.

For the record, DSUA 2021.1 will come into effect as of 1 July 2021.

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What is more, the club notifies its Members of the following changes to the DSUA:

  1. a minor change in trading name from ESS-Databridge Exchange Limited to essDOCS
  2. updating the reference to the applicable data protection law in T&C 4.12
  3. extending T&C 8 to include recent amendments to Singapore law, specifically the Singapore Electronic
    Transactions (Amendment) Act which came into force on 19 March 2021 and which recognises electronic bills of lading under Singapore law
  4. adding the option to select the jurisdiction of the Singapore courts in T&C 17

“Members are reminded that 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 IG 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”.

…as IG clubs concluded.

Tags: Bill of LadingdigitalizationIG Clubsshipping tradesmart

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