The Singapore government introduced a bill into parliament to amend the Electronic Transactions Act (ETA) (Cap. 88) (ETA) on January 4, 2021. The amendments set out in the Electronic Transactions (Amendment) Bill will be of relevance to the trade and commodities finance and fintech sectors as their primary object is to achieve recognition and equivalence for transferable documents and instruments, such as bills of lading, bills of exchange and promissory notes, represented in electronic form.
Our recent client alert summarizes the key proposed changes and outlines some of the potential implications for the trade and commodities finance and fintech sectors.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.