The International Group of P&I Clubs (IG) has announced a new approval process for electronic bills of lading (E-bills), set to take effect on 20 February 2025.
Under this revised system, E-bill providers will be deemed approved if they meet the following criteria:
- They operate under a legal framework that explicitly recognizes E-bills as equivalent to paper bills of lading.
- They demonstrate reliability and compliance through an independent audit, a regulatory declaration, or adherence to industry standards.
Implications for Shipowners: E-bills are gaining wider acceptance as key jurisdictions implement supportive legal frameworks. While this new approval process simplifies adoption, shipowners must remain vigilant in regions where E-bills are not yet fully recognized.
To ensure seamless transactions and P&I coverage, members should:
- Verify the governing law of the E-bill system before use.
- Confirm that the system meets reliability standards to prevent potential coverage issues.
- Ensure that E-bills are legally recognized at relevant ports of trade.
With these steps, shipowners can leverage the benefits of E-bills while mitigating operational and legal risks.
A list of approved E-bill systems is available on the International Group’s website.
For more information, please refer to the IG circular here or contact us at claims@nnpc.nl.
