Give feedback on options to enable electronic trade documents in New Zealand

About the consultation

International trade is increasingly moving towards paperless trade and electronic commerce.

While New Zealand law generally recognises electronic transactions, it does not comprehensively enable electronic transferable records (for example bills of lading, bills of exchange, promissory notes and warehouse receipts) to perform the same legal functions as paper originals. This creates legal uncertainty, increases transaction costs, slows trade processes, and makes it harder to exchange electronic trade documents with overseas partners.

We are seeking feedback on options to address these issues and support the wider use of electronic trade documents in New Zealand.

The discussion document outlines four options for consideration. These range from limited reforms to broader adoption of the United Nations Commission on International Trade Law Model Law on Electronic Transferable Records, an international framework to enable electronic transferable records to have the same legal effect as equivalent paper documents.

Who we want to hear from

We invite submissions from anyone with an interest in electronic trade documents and/or digital trade more broadly. This includes, but is not limited to:

• exporters and importers
• industry associations
• freight and shipping operators
• legal professionals
• export support providers
• technology providers
• banks and trade finance providers
• other interested parties.