Singapore may implement digitised cross-border trade documents Thursday 7 January 2021 13:50 CET | News The Singapore parliament has proposed an amendment to the current Electronic Transactions Act, which could allow cross-border trade documents to be digitised.
According to the proposed changes, important documents such as a Lasting Power of Attorney (LPA), which allows an appointed person to make medical and financial decisions on another s behalf should the latter lose mental capacity, will also be digitised.
Most maritime trade transactions currently use physical bills of lading that are legal and commercial documents that provide evidence for the contract of carriage, receipt, and ownership of goods. The Infocomm Media Development Authority (IMDA) and the Maritime and Port Authority of Singapore have been working with the Port of Rotterdam s blockchain centre Blocklab on introducing title transfer capability in relation to electronic Bills of Lading.
NewOcean 6, a bunker tanker at the centre of Singapore's latest Covid-19 cluster, has been quarantined and will cease all operations until further notice.. Read more at straitstimes.com.
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Shore-based staff in the maritime sector will now have to be tested every seven days instead of 14 before they are allowed to board ships for work.. Read more at straitstimes.com.