News 06 Oct, 2022

No.10 2022/2023 - Electronic (Paperless) Trading - Update to TradeLens Terms and Conditions

Tony Paulson
Tony Paulson
Head of Asia & Corporate Director

October 2022

Members are referred to Notice to Members No.1 2021/2022 dated March 2021.

Version dated 24 February 2021 – Previously Approved

The International Group had previously approved TradeLens’ RuleBook and Service Description version 24 February 2021. These versions continue to be approved.

Version dated September 2022 – Approved

This Notice confirms approval by the International Group of updated versions of TradeLens’ RuleBook and Service Description. These versions are dated September 2022 and supersede the previous versions dated 24 February 2021 which remain approved for the purposes of Club cover. The versions dated September 2022 came into effect as of Friday 30 September 2022.

Changes in Tradelens dated September 2022

This Notice notifies Members of the following changes to the TradeLens Rulebook and Service Description:

TradeLens RuleBook:

1) Minor change of wording in 7.4 and 8.3 referencing issuance of the paper bill and transfer to paper respectively;

2) Note 8.6 - revision of wording relating to the exclusion of the Contracts (Rights of Third Parties) Act of 1999 now extends to cover ‘….any similar legislation or rule of law applicable (or potentially applicable) under the law governing any TradeLens eBL….”.

Service Description:

1) Cloud Service (1) - Note there is now a definition of TradeLens eBL

2) Offerings now includes Single Transfer (1.1.1), Multiple Transfer sections (1.1.2), as well as Acceleration Services (1.2)

3) Amendments to Charge Metrics (4.1)

4) Overriding Terms – Note new section covering Termination (6.3)

Other exclusions of cover under Club Rules continue to apply

Members are reminded that other exclusions of cover under 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 a) discharge at a port or place other than the port or place provided for in the contract of carriage, b) the issue / creation of an ante or post-dated electronic document / record, and c) 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.

All Clubs in the International Group have issued a similar circular.