ABSTRACT
It is now five years since the first edition of this book was produced. The predecessor version of this chapter recognised that whereas dematerialisation of documents which contain only information, such as non-negotiable waybills, was relatively straightforward, the development of electronic negotiable bills of lading was more difficult in principle than electronic waybills. The bill of lading differs fundamentally from the waybill in conveying, in addition to information, proof of title, or at any rate the right of the holder to take delivery of the goods. It also transfers contractual rights and liabilities. Nevertheless, the chapter argued that it was possible, in principle, to dematerialise it, albeit that changes in the law would ideally be desirable to achieve this objective. Moreover, it was essential to do so, since for many cargoes, and in particular the carriage of bulk oil, the paper bill of lading was simply no longer serving its original function, and replacement by a waybill was obviously out of the question. All these conclusions are still valid.
