ACADEMIC LLM DISSERTATION

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Whether bill of lading is an
important instrument in giving
effect to carriage of goods
D Dissertation Title
contracts? A comparative and
analytical study

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Table of Contents
CHAPTER 1: INTRODUCTORY FRAMEWORK AND SCOPE OF DISSERTATION............................3
1.1. BRIEF INTRODUCTION.............................................................................................................. 3
CHAPTER 2: LITERATURE REVIEW..................................................................................................... 4
2.1. HISTORICAL ACCOUNT OF BILL OF LADING................................................................................................4
2.2. FUNCTIONS AND TYPES OF BILL OF LADING...............................................................................................4
2.3. ROLE AND PERFORMANCE OF PARTIES TO BILL OF LADING........................................................................7
2.4. PROBLEMS AND ISSUES WITH BILL OF LADING...........................................................................................9
CHAPTER 3: METHODOLOGY OF DISSERTATION...........................................................................................10
3.1. RESEARCH METHODS AND TECHNIQUES.............................................................................................................10
3.2. APPLICATION OF RESEARCH METHODS AND TECHNIQUES.......................................................................................10
3.3. RESEARCH PHILOSOPHY..................................................................................................................................12
3.4. ETHICAL CONSIDERATIONS..............................................................................................................................12
CHAPTER 4: FINDINGS................................................................................................................................. 13
4.1. BILL OF LADING AS A DOCUMENT AND PERFORMANCE IN CONTRACTS......................................................................13
4.2. MULTIMODAL NATURE OF BILL OF LADING AND EFFECTIVENESS.............................................................15
4.3. BILL OF LADING AND NEW DEVELOPMENTS AND THREATS.......................................................................16
CHAPTER 5: CONCLUDING REMARKS........................................................................................................... 20
5.1. CONCLUSION...............................................................................................................................................20
5.2. RECOMMENDATIONS.....................................................................................................................................21
5.3. LIMITATIONS AND FUTURE IDEAS......................................................................................................................21
BIBLIOGRAPHY............................................................................................................................................ 22
Chapter 1: INTRODUCTORY FRAMEWORK AND SCOPE OF DISSERTATION

1.1. BRIEF INTRODUCTION

The bill of lading, sometimes referred to as BOL, is a vital document in facilitating the
transportation of commodities across international borders. It operates in combination with a
verbal or written agreement for the transfer of commodities by marine means. This research
examines the historical background of the vocabulary, along with its primary classifications,
functions, and applications. This study employs a jurisprudential, doctrinal, and analytical
framework to evaluate the current economic value and significance of bills of lading. This
study utilises a diverse array of national, local, and academic resources to elucidate the
characteristics and roles of bills of lading. This research investigates the probability of
retaining, modifying, reconfiguring, and extending the bill of lading, while also analysing the
document's merits, limitations, and possibilities. The primary objective of this study is to
examine and analyse the foundational aspects of conventional and electronic bills, while also
highlighting the similarities and differences between these two formats. 1 This analysis will be
conducted within the context of legislative and jurisprudential advancements and principles.

This dissertation aims to conduct a comprehensive and systematic analysis of the historical
context of the bill of lading. It will explore its main functions and transferability, as well as its
importance as a document of title, a proof of goods receipt, and a contract of carriage.
Additionally, it will endeavour to consolidate its significant roles within the modern and fast-
paced transportation industry. A study examining the need for a shift in the legal approach
used by the courts has shown a substantial deficiency in understanding and decision-making
about issues pertaining to computerised transactions of the bill of lading. By providing a
comprehensive resource, our endeavour will showcase a profound commitment to the field of
writing, benefiting legal scholars, strategists, and corporate organisations. Individuals may
strategically use this opportunity to manipulate the bill of lading, so facilitating its efficient
utilisation in electronic form.

1
Amelia H Boss, ‘The International Commercial Use of Electronic Data Interchange and Electronic
Communications Technologies’(1991) 46(4) The Business Lawyer 1787, 1789
Chapter 2: Literature Review

2.1. Historical account of Bill of lading

The historical origins of the bill of lading may be attributed to the practises and customs
prevalent within the commercial community throughout ancient times. In Duncan's 1917
publication, it is posited that the transformation of the bill of lading occurred as a result of the
increasing intricacy of global commerce.2 This shift involved a transition from a mere
acknowledgment of goods received to a contractual agreement governing the shipment
between the merchant and the ship's master. The impetus behind this evolution was the
heightened necessity for standardisation and uniformity in business documentation. 3 The need
for harmonisation and standardisation of economic processes and instruments is perpetual
due to their inherent significance. The consistent, efficient, predictable, and fair management
of commercial and trade operations conducted by sea and other transportation modes has
become a more prominent and recurrent objective, owing to their exponential rise. In order to
maintain relevance in light of evolving trade and commercial dynamics, it is essential to
update company documentation.4 The instrument has undergone a transformation, becoming
a valuable asset for businesses, enabling them to engage in the resale of previously purchased
items and produce revenue that may be used as collateral for long-term loans. This
exemplifies the bill's renowned and dependable characteristics, which are widely
acknowledged in the banking and trading industries. 5 This elucidates the reasons for the
enduring prevalence of the bill of lading over its extensive historical trajectory, since other
forms of bills have failed to entirely replace it.

The contractual agreement pertaining to transportation has always included three key entities:
the shipper, the carrier, and the consignee. This state of affairs has persisted for several
centuries. In essence, a bill of lading is an autonomous document designed with the explicit
objective of expediting the transportation of goods to the carrier. However, at its original
creation, this was the underlying rationale. The talents of this entity much surpass those of its
first rudimentary form. When assuming the responsibilities of a bill of lading, its purpose is
to "operate as a form of acknowledgement, serving as written substantiation of a contractual
agreement for transportation between the sender and the carrier, functioning as a document
conferring ownership rights to the goods," and to "act as written evidence of a shipping
contract between the sender and the carrier." The stakeholders served by this entity include
the shipper, the consignee, the finance institution (such as a bank), and the carrier, among
others. The broad acceptance and use of a bill of lading in commercial transactions might
likely be attributed to its negotiability.

2.2. Functions and types of bill of lading

There are several unique categories of bills that have undergone evolution throughout time
and may serve as the fundamental basis for analysis and comparison in this research. There
are two distinct sorts of bills: order bills and bearer bills. The classification of a bill of lading
is determined by the nature of the products being transported, with two main categories being
"general merchandise bill" and "commodity bill." The former kind of transportation is used
2
‘Recent Periodicals and New Books’(1917) 27(108) The Economic Journal 582, 587
3
Ibid 589
4
Hugh Beale (ed), Chitty On Contracts (32nd edition Sweet & Maxwell 2015) 35
5
IBid
for the purpose of conveying conventional commerce, while the latter is mostly utilised for
transporting cattle, perishable goods, and other products. Furthermore, the potential for
negotiation may serve as a distinguishing factor between an order bill and a straight bill. The
transfer of ownership of the order bill may be accomplished via the process of indorsement.
In contrast, straight bills of lading alone permit consignment and necessitate their inclusion
with the goods for shipment to the designated consignee. The second significant component
of the bill of lading that has the capacity to give rise to inconsistencies is the contractual
terms and circumstances pertaining to the carriage agreement. The focus of this research
does not primarily lie on the scope, nature, and specific details of these disorders. The
primary areas of emphasis pertaining to this subject matter are its functionalities, structure,
practicality, interpretation, and utilisation, with the aim of addressing the current and future
requirements of the global community.

There exists a distinction between a bill of lading and a bill of exchange, since the latter is a
negotiable financial instrument, despite the fact that both serve as papers of title. The
effectiveness of the bill of lading is therefore constrained since the recipient of an approved
bill of lading assumes all possible flaws associated with it. The recipient of the transfer does
not get an improved title or a title free from any encumbrances. Due to the absence of
ownership, the transferor is rendered incapable of selling the title. Despite purchasing the bill
in good faith and at a substantial cost, the transferee failed to get a valid title to the property.
In the case of Gurney v Behrend, Lord Campbell remarked that:

“a bill of lading is not, like a bill of exchange or a promissory note, a negotiable

instrument which passes by mere delivery to a bona fide transferee for valuable
consideration, without regard to the title of the parties who make the transfer.
Although the shipper may have endorsed in blank a bill of lading deliverable to his
assigns, his rights are not affected by an appropriation of it without his authority. If it
be stolen from him, or transferred without his authority, a subsequent bona fide
transferee for value cannot make title under it against the shipper of the goods. The
bill of lading only represents the goods, and, in this instance, the transfer of the
symbol does not operate more than a transfer of what is represented”.6

Active engagement in the sales agreement is inherently necessary for the functioning of the
enterprise. This transaction includes supplementary agreements with several intermediaries,
including those involved in banking, insurance, and transportation. The aforementioned
factors are closely associated with the tangible transportation of items and the exchange of
relevant documentation, whether via physical means or technological transmission. The seller
of goods and the buyer often engage in remote collaboration due to their status as
autonomous corporate entities.

The divergent interests of buyers and sellers may lead to impasses arising from disparities in
legal authority, geographical separation, and the absence of contractual commitments. The
customer's readiness to make a purchase is contingent upon the receipt of the products. The
vendor may exhibit hesitancy in delivering the merchandise until they have a guarantee of
complete payment. The purchaser may also be compelled to provide finance, pledge the item
as collateral, or arrange for alternative means of disposal prior to or during the item's
transportation. Furthermore, depending upon the amount of cash to be received from the
purchaser, the seller may choose to get financing. In order to enhance the accessibility of
6
Gurney v Behrend [1854] 3 E & B 262
corporate operations, it is essential to achieve a harmonious resolution of these divergent
interests. In order to accomplish this objective, it would be imperative to use tools that
optimise the efficiency, reliability, and fairness of transactions.

Consequently, the documents have played a key role in facilitating the cessation of these
opposing agendas. The purchaser benefits from this agreement since it affords her the
capacity to effectively and lawfully oversee the relevant matters. The vendor is provided with
the documents that signifies a financial responsibility to make a payment. The use of this
technology facilitates the seamless and simultaneous interchange of delivery papers and
payment documents. Both parties involved are provided with protection and assurance.
Despite the ongoing processing of funds, consumers are assured that the delivery of goods
will be provided. Prior to the physical transfer of the merchandise, she has the ability to
navigate the circumstances by using the relevant documentation. This suggests that the things
have been subjected to legal oversight. Nevertheless, in the event of a time bill, the seller has
the choice to discount or pledge the bill, therefore transforming it into cash prior to its
maturity date. Conversely, if it is a cash bill, the seller may be eligible for prompt payment.
Documents serve to enhance adaptation, efficacy, productivity, lucidity, and equity.

The primary purpose of the bill of lading within the realm of international trade and business
is in its role as a record of title. The bill of lading has retained its economic significance due
to the crucial role it plays as a document of ownership. The bill of lading, in addition to its
function as a record of title, has the capacity to function as collateral, provide standardised
rules for dispute settlement, and fulfil several other functions.

When commodities are carried through maritime means, whether locally or internationally,
the considerable distance traversed poses a logistical challenge for the merchant, resulting in
a prolonged inability to physically deliver the items or cargo. It is plausible that, therefore,
merchants began using the bill of lading as a representative emblem for the merchandise. The
presence of the bill of lading alone bestows constructive ownership of the commodities.
However, it is conceivable that there may exist inefficiencies in the processes of obtaining,
retaining, and transferring a physical bill of lading. Consequently, the development of a
digital rendition of the law becomes imperative. In the event described, it is indisputable that
a bill of lading has the potential to function as a document of title. The transferability of the
bill of lading is enhanced by the act of delivering the goods to the buyer, which has symbolic
significance and legal consequences. The purchaser has the legal entitlement to demand the
receipt of the merchandise subsequent to their delivery to the retail establishment. Bowen Lj
accurately stated in the case of Sanders v Maclean:

“a cargo at sea, while in the hands of the carrier, is necessarily incapable of physical
delivery. During this period of transit and voyage, the bill of lading by the law
merchant is universally recognised as its symbol; and the endorsement and delivery of
the bill of lading operates as a symbolical delivery of the cargo ... It is a key which in
the hands of the rightful owner is intended to unlock the door of the warehouse,
floating or fixed, in which the goods may chance to be”.7

7
Sanders v Maclean [1883] 11 QBD 327
2.3. Role and performance of Parties to Bill of lading

The bill of lading was extensively used as a means to include several parties in a transaction,
given the intricate nature of the business transactions associated with the maritime movement
of commodities. The feasibility of this achievement has been made possible by the diverse
range of capabilities offered by the bill of lading, which have undergone continuous
refinement over the course of time. There is a diverse range of stakeholders that own an
interest in the business transactions related to carriage. The sponsoring banker is obligated to
safeguard their own interests and recover the fee as compensation for their involvement in the
transaction. Prior to granting approval for the transaction, the lender must consider the
authenticity of the bill of lading, together with its stipulations and conditions. To augment the
carrier's culpability while mitigating their own obligations, the shipper and the consignee will
jointly endeavour to safeguard their respective interests by shifting the onus of responsibility
for the transaction onto the latter party.

The bill of lading has the potential to serve as a pivotal tool in the resolution and equilibrium
of conflicts pertaining to these interests. Nevertheless, the efficacy of this method relies on
the requisite criteria outlined in the sales agreement, among other duties and regulations
mandated by international law. The construction of the Hague norms, Hague-Visby Rules,
Hamburg Rules, and Rotterdam Rules has been undertaken to build a framework of authority
that confers standards and duties onto the parties involved in the operation of their
organisation. Several rules were enacted in response to the Hague Convention. The utilisation
and development of the firm may undergo transformation throughout the course of time. The
bill of lading has transitioned from a private document to a public one due to the rise of
global commerce and its significance in the 20th century. The establishment of basic
standards and harmonised business forms and documentation is seen advantageous for the
shipping industry, buyers, sellers, lenders, charterparties, and all other relevant stakeholders,
given the inherent characteristics of global commerce. Consequently, in the context of a bill
of lading that involves several interconnected parties, it is essential to ensure that the
vocabulary, functions, and application of the document are unambiguous, practical,
foreseeable, and effective.

The application of the Contracts (Rights of Third Parties) Act 1999 and its corresponding
legal framework is likely to be relevant in the given scenario, since a bill of lading in the
United Kingdom is considered a contractual agreement. The subject matter is to the
regulation of the exclusion or restriction of responsibility within the framework of a
contractual agreement for the transportation of goods by marine means. The ongoing
international agreement aims to harmonise the interpretation of sections in bills of lading that
include third parties, allowing for potential amendments in this area.

Nevertheless, it is important to bear in mind that in the context of bills of lading involving
third parties, the elucidation of the contractual terms and the precise stipulations would be
required. There is no universally applicable form that can be used in all circumstances. In
support of his argument, F. Reynolds provided a concrete example, stating that the recipient
of the bill of lading enters into a distinct agreement, distinct from that of the consignor, based
on the information shown on both sides of the bill of lading. In a similar vein, Thomken have
observed that the presence of several contracts resulting from the involvement of various
parties might give rise to challenges in the interpretation of contractual requirements. 8
According to the authors, the complexities come firstly from the use of the charter-party and
the bill of lading, which are distinct contractual arrangements. In this particular scenario, it is
customary for the bill of lading to be generated subsequent to the loading of the items into the
truck. The bill of lading functions as evidence of the contract of affreightment.

It has been observed that in the Heidberg case, the recipient of the bill of lading does not
assume an identical contractual agreement to the one established between the shipper and the
shipowner.9 Hence, the validity of bills of lading might provide challenges for courts and
arbitrators in the process of dispute resolution, evidentiary weight assessment, establishment
of privity of contract, and the dispensation of remedies. This phenomenon leads to an
escalation in the intricacy and degree of unpredictability for the parties involved in the
management of their respective affairs. Nevertheless, considering the contractual basis of the
bill of lading, it is likely that the occurrence of such challenges is inevitable. Furthermore,
there is a perspective that asserts that a bill of lading should be seen as not constituting the
actual contract of carriage, but rather serving as evidence (albeit highly reliable evidence) of
the terms and conditions of said contract.

Carriage contracts and transport papers have been impacted by a variety of international
bodies, which still have an effect today. The process by which private business organisations
and international legal bodies engage in the formation of international legal instruments has
helped to harmonise and standardise the operations and functions of documents like bills of
lading. It continues to function as a catalyst for the production of electronic bills of lading.
The bill of lading has grown from its early usage as a plain ship record attesting to the kind
and quantity of the commodities delivered to supplying the conditions of shipping contracts
owing to the concerted efforts of multiple parties to produce a standardised bill of lading. In
order to design criteria for the allocation of risk, establish documentation processes, and
construct a framework for the concurrent interchange of various transactions, such as the
delivery of documents, payment, and shipment, it is vital to have institutional backing. This
will assist to fund foreign transactions and promote global commerce.

By accepting the legal status of marine sales of commodities, delivery, shipping, and payment
duties, the parties are better able to plan and conduct their company. The formation of
domestic codes, laws, and jurisprudence is also made viable by this realisation. The power to
negotiate a bill of lading originated from the worldwide evolution of domestic laws, which
took the form of commercial codes in countries with both common law and civil law systems.
The future of cargo transportation by water will primarily rely on the multimodal carrying of
goods and the adoption of uniform standards for multimodal transportation across sea, rail,
road and air components of a voyage. As a consequence, the exploitation of multimodal
transport and automated systems for the documentation of transit have gained major attention
under the Rotterdam Rules. This creates further foundation for the adoption, modification,
usage, and legitimization of electronic bills of lading.

The emergence of containerized shipping made it feasible to deploy a number of modes of

transportation. The breadth and importance of the function the bill of lading performs have
also risen as a consequence of this. The correct papers must be produced when transporting
items from one warehouse to another or from one door to another by vehicle, train, boat, or
8
T.K Thommen, ‘CARRIAGE OF GOODS BY SEA : THE HAGUE RULES AND HAMBURG
RULES’(1990) 32(3) Journal of the Indian Law Institute 285, 289
9
The Heidberg [1994] 2 Lloyd's Rep 287
aircraft. At every phase of the shipping procedure, distinct international conventions may be
applicable. The bill of lading has also been used in facilitating the transfer of goods through
other modes of transportation. It is likely that the subject matter pertains to a contractual
agreement that incorporates a bill of lading to include many phases of goods transportation.
In conjunction with at least one other method or phase of transportation, such as land or air,
the transportation of goods will always include the utilisation of water.

2.4. Problems and issues with bill of lading

Over the last several decades, there has been a significant growth in both the dimensions of
ships and the mass of the cargoes they carry. Consequently, bills of lading are sometimes
produced to represent specific portions of the bulk, corresponding to the monetary value
indicated on the bill. The stakeholders who benefit from the approval of a bill of this kind at
the completion of commodities unloading from vessels are those individuals or entities that
may be affected by the issue. The Sale of Goods Act bans the transfer of property title in an
indeterminate fraction of an already existent amount. Therefore, it is probable that a fraction
of the mass will not be approved.

Consequently, there is a possibility that this might give rise to complications pertaining to the
endorsement of the bill of lading or the transfer of the contract, particularly in instances when
just the consignment of goods is involved. The issue was brought to attention by the Dutch
case of the Gosforth, when individuals who had placed delivery orders with a merchant for a
portion of a large cargo were compelled to endure delays in receiving their supplies. 10 The
Dutch court concluded that the bill of lading does not confer advantages onto the purchasers
due to the principle of bulk goods, and so, it is necessary to adhere to the bulk goods concept
as stipulated by English law. Nevertheless, the issue in question was ultimately settled by
Mustill LJ by common law principles in the Delfini case.11 The court determined that the
relevant legislation was applicable as long as the endorsement of the bill had an important
causal role in the property transfer. Put simply, in order for the laws to be implemented, it was
necessary for the bill to have significant support.12 The transfer of ownership for a designated
parcel is established via the use of a bill of lading. It has been determined that in the context
of bulk items, such transfer does occur. This underscores the significance of adaptability and
the breadth of possible explanations within the framework of common law, together with the
significance of a bill of lading as a contractual instrument used to facilitate the transfer of
ownership rights.

10
Francis Reynolds, 'Bills of Lading: Do they have a future?' (1994) 10 MLAANZ J 22, 25
11
The Delfini [1990] 1 Lloyd’s 252
12
Ibid
Chapter 3: Methodology of dissertation
3.1. Research methods and techniques

This study utilises many research methodologies, including exploratory, qualitative,

analytical, comparative, and epistemological approaches. As this study is based on secondary
research, it extensively utilises primary and secondary sources to explore many facets of the
subject matter, including bills of lading. The examination of terminology used in bills of
lading across various countries encompasses primary sources like as legislation, government
consultations, independent studies, jurisprudence, and any relevant empirical research. This
epistemological approach is used to examine the conceptual and theoretical foundations as
well as the historical evolution of the bill of lading. This study delves into the historical roots
of the axioms, notions, and terminological foundations associated with a bill of lading. The
present methodology employs an analytical framework to scrutinise the legal handling of bills
of lading. The qualitative and comparative method acknowledges the idiosyncrasies inherent
in research that draws from diverse sources from different legal systems.

The investigation is bolstered by distinct resources that were uncovered using both offline
and internet means. This pertains to the customary provisions of the bill of lading, as well as
the legal requirements imposed by statutes. This study examines the legal precedents
produced by many courts. Other significant sources include government consultations, white
papers, Law Commission conclusions, international treaties and comments, as well as
relevant legislative provisions, such as those included in the United States Uniform
Commercial Code. Secondary sources include a variety of scholarly materials, such as
research journals, academic books, comments, news items, and other pertinent sources, which
undergo a rigorous peer-review process and are accessible in both online and print formats.
Consider the variety of cases and academics regarding utility and application of bill of lading.

3.2. Application of research methods and techniques

The purchaser in the case of The Aliakmon violated the terms outlined in the bill of lading by
declining to make payment for the merchandise. The buyer was had the opportunity to act as
the seller's representative for the subsequent sale of the products by the seller. Regrettably, the
purchaser encountered the delivery of damaged products, leaving them with limited legal
recourse against the transporter. Moreover, in the context of commodity exchange, it is
common for multiple sellers and purchasers to be involved, resulting in a separation between
the documentation and the physical items. In instances of this nature, the goods are received
and transported in compliance with the stipulations outlined in the letter of indemnity.
However, the issuance of the bill of lading is deferred until a later point in time.

Consequently, the party that ultimately possesses the goods is unable to make a valid claim
over insufficient delivery, as the delivery of the items takes place regardless of the bill of
lading. The case study pertaining to The Delfini provided an exemplification of this concept.
The ruling rendered in the legal matter of Brandt v. Liverpool established that it is permissible
to include an implied provision in the contractual arrangement between the carrier and the
individual presenting the bill of lading (or delivery order). 13 Consequently, the carrier
assumes the responsibility of delivering the goods in accordance with the stipulations
13
Brandt v. Liverpool [1924] 1 Kb 575
outlined in the bill of lading. However, it is arguable that the creation of a collateral contract
may not be feasible under the principles of English contract law pertaining to the doctrine of
consideration. According to the Court of Appeal, another obstacle in the case of The Aramis
was the absence of any clear intention to form a contract on the side of the involved parties.
These instances, which give rise to certain concerns, introduce scepticism regarding the bill
of lading's intrinsic universality as the record of title.

Section 2 of the Canadian Grain Standards Act of 1992 specifically addresses the
complexities associated with the transferability of rights. The issues raised in the cases of
Aliakmon, Aramis, and Delfini have been resolved through the determination that it is
permissible to establish a legal claim regarding a bill of lading even after the delivery has
taken place.14 Nevertheless, there exists the potential for illicit trade in bills of lading,
whereby these papers can be converted into monetary assets within the public marketplace,
enabling individuals to pursue legal actions against carriers even after the items have been
successfully transported and delivered. The issue at hand is effectively addressed in Section
2(2)(a), which explicitly prohibits the transfer of rights to a holder, except in cases where the
party in possession of the bill of lading obtains it through a transaction that was initiated prior
to the termination of the right to possess the bill. The resolution of a bottleneck that had the
potential to lead to unjust and exploitative commercial practises was achieved by the
enactment of a statute that aligned it with the progress made in legal precedent. This
exemplifies the natural capacity of the English legal system to tackle practical and
commercial misconduct through the evolution of legal principles, followed by future
legislative involvement.

The carrier is obligated to ensure the delivery of the goods in accordance with the initial bill
of lading, as the bill of lading holds the status of a title document. In the event that the bill of
lading is not presented during the delivery of goods, the owner of said bill may have legal
grounds to initiate a lawsuit against the carrier, based on both contractual and tort principles.
Conversely, the regulations are subject to modification and contingent upon commercial
efficacy and prudent corporate decision-making, akin to other components inside a bill of
lading. In the event that the individual receiving the delivery lacks the bill of lading, it
remains permissible for them to accept the package, provided they provide the carrier with a
valid and justifiable explanation. The requirements regarding the "notify party" require the
carrier to provide notification to a third party upon the delivery of the commodities. The
inclusion of these measures enables the carrier to promptly notify relevant stakeholders such
as bankers, customs agents, brokers, or warehouse personnel.

This action will not supersede the delivery that contravenes the provisions of the bill. The
inclusion of this document within the bill of lading is of utmost importance as it functions to
ensure that the products are handed over exclusively to the individual who possesses the legal
authority to receive them. The rule stipulates that electronic release mechanisms or any other
means are not allowed to circumvent the requirement of presenting a delivery order or bill of
lading as evidence of shipment until such documentation is provided. According to the ruling
in the Sormovskiy case, in jurisdictions where the practise of delivering goods without a bill
of lading is common, the customary practise is interpreted strictly within that jurisdiction. In
his study, Clarke J. conducted an analysis of the distinctions among practise, custom, and law.

As a result of this, the involved parties often incorporate specific provisions into the bill of
lading that enable the goods to be unloaded without the need for presenting a bill of lading, so
14
Supra
waiving the title warranty. Additionally, the carrier assumes no liability for any potential
losses in such cases. Despite its limited scope, something possesses a restricted significance.
According to the ruling made by Lord Denning in the legal case of Sze Hai Tong Bank Ltd. v.
Rambler Cycle Co. Ltd., it was emphasised that a shipowner assumes a significant risk when
delivering goods without the presentation of a bill of lading. 15 In circumstances where the bill
of lading has been unavailable, it may be necessary to seek a court injunction. In the case of
Motis, the learned Lord Justice Stuart-Smith opined that the utilisation of a counterfeit bill of
lading for the purpose of releasing goods would likely be seen as mis delivery, so rendering
the bill null and void.16 The case involved a statement. Conversely, analogous regulations are
applicable in cases when the bill of lading does not designate a particular consignee, unless
otherwise stipulated by additional provisions.

The existence of these burdensome regulations underscores the need for contracts that are
both streamlined and intelligent, enabling the prompt exchange of products, securitization of
assets, and verification. The utilisation of an electronic bill of lading, as a substitute for the
traditional paper-based version, can help mitigate challenges associated with the
transportation and acknowledgment of products. Conversely, paper bills of lading exhibit a
significant level of adaptability. To ensure equitable treatment of all parties involved and
safeguard the interests of consignees and bill of lading holders, the courts have consistently
upheld their responsibility to accept and deliver goods.

3.3. Research philosophy

The study is very much focused on secondary as well as primary data of law. As explained
above primary sources are based on statues, case law, regulations, law commission reports,
and others. The study has also considered and engaged secondary sources i.e., academic
journals, reviews, blogs, and online data bases. For understanding and integrating these
sources very well, the research uses interpretivist philosophy to advance the study. The use of
variety of sources such as cases and key provisions of statutes articulate about bill of lading
and importance attached to it.

3.4. Ethical considerations

As it is a secondary research that involves previous literature regardless of any primary data
collection, therefore no serious concerns of ethical nature. Secondly, the study adopts
analytical, comparative, and doctrinal research techniques that interpret and critically
evaluate sources which do not have any ethical concerns. The study backs up argument from
different sources and cite or reference them accordingly to avoid any concerns of copying or
illegally using someone’s content.

15
Sze Hai Tong Bank Ltd. v. Rambler Cycle Co. Ltd No. 159
16
Motis Exports Ltd v. Dampskibsselskabet AF 1912 Aktieselskab, Akteiselskabet Dampskibsselskabet
Svendborg [2000] 1 Lloyd’s Rep 211
Chapter 4: Findings
4.1. Bill of lading as a document and performance in contracts
The bill of lading is an invaluable tool in business operations due to its function as a
document of title. The acceleration of the transactional process enhances the value of
commodities by mitigating inefficiencies caused by prolonged transit durations. Moreover,
this process generates secondary markets and converts bills of lading into a tradable
commodity. The enduring dominance of the bill of lading over the course of centuries, despite
the emergence of several modifications, may likely be attributed to this factor.

Bills of lading has the potential to accommodate the evolving demands of contemporary
commerce and effectively respond to its rapid speed and heightened intensity via the use of
innovative electronic formats and the resolution of pertinent legal concerns. There may be
other modifications that need implementation at both local and global levels. The subsequent
chapters will address the transition to electronic document storage. The bill of lading is an
instrument that has significant use, practicality, predictability, and risk mitigation, making it
the only document that encompasses these attributes. Financial institutions, such as banks,
have acknowledged and embraced the involvement of third parties in the exchange of
documents instead of tangible products. The legal system, particularly in the United
Kingdom, does not recognise the introduction of new forms of negotiable instruments as a
result of the widespread use of bills of lading. Furthermore, bills of lading have received
backing from many international conventions. The Hague-Visby Rules, which represent a
substantial modification of the Hague Rules, provide support for the bill of lading. The
enactment of the Carriage of Goods by Sea Act in 1971 necessitates the creation of a bill of
lading in response to these imposed limitations. As a result of the aforementioned law, among
other requirements, it is necessary to provide a bill of lading that provides a description of the
items and includes any identifying markings or other pertinent information to the shipper.

The financial viability of a novel transit document is likely to be prioritised above other
considerations in determining its acceptance. According to an evaluation conducted by
UNCTAD, the increasing use of electronic bills of lading and maritime waybills has
encountered obstacles due to apprehensions over their acceptance in relation to letters of
credit that pertain to the cargo. Notwithstanding the elimination of these dangers resulting
from two policy modifications, this issue persists. The use of a marine waybill or letter of
credit may include the introduction of a non-negotiable document in compliance with the
regulations outlined in UCP 600. Furthermore, the eUCP facilitates the electronic display of
electronically submitted records. The aforementioned papers are accessible in a digital
format.

However, it is important to emphasise that the execution of a sales contract is essential for the
dissemination of these materials. Conversely, the presence of several papers exhibiting
plurality, duplication, and variety may lead to inefficiencies and a burdensome user
experience. The Simpler Trade Procedures Board (SITPRO) has prepared master papers as
part of its efforts to standardise and simplify the many procedures and paperwork involved in
international trade. The potential issue lies in both the quantity of items and their physical
attributes. The use of electronic means to communicate information and pictures related to
bills of lading and other ship-related papers, such as ship manifests, has been further
substantiated by this development. However, this development has also led to the rationale
for switching from bills of lading to non-negotiable marine waybills for the transportation of
goods. The proponents of the movement have advocated for the establishment of standardised
documentation protocols.

The designation of a bill of lading as a document of title implies that the purchaser has the
ability to transfer ownership of the goods during their transportation via sea or other means,
subject to the conditions outlined in the Hague-Visby Rules, which may supersede alternative
agreements. This is due to the fact that the possession of the bill of lading is tantamount to the
ownership of the goods. Merely endorsing the bill of lading and transferring the goods to a
third party may potentially constitute a satisfactory means of transferring ownership. The
legal entitlement of the third party to request the delivery of the goods upon their arrival is
established by its possession of the bill of lading. The measure in question must adhere to a
certain sequence, as previously mentioned in the prior chapter.

It is important to clarify if the consignee mentioned in the list or their assigns will be the
recipients of the product. The acceptance of "straight bills of lading" as legally recognised
documents of title is not permitted. 17 The transfer of rights and duties outlined in the bill of
lading occurs via the process of endorsement, therefore excluding the original party from
further involvement. Subsequently, the recipient of the endorsement would possess the legal
capacity to contest all of the provisions, including both those that are implicit and those that
are explicitly stated. The bill of lading is an invaluable tool in business operations due to its
function as a document of title. The acceleration of the transactional process enhances the
value of commodities by mitigating inefficiencies caused by prolonged transit durations.
Furthermore, this process generates secondary markets and converts bills of lading into a
tradable commodity. The enduring dominance of the bill of lading throughout time, despite
the emergence of several modifications and its centuries-long existence, may likely be
attributed to this factor.

The bill of lading has conventionally assumed the responsibility of serving as evidence of the
contract of carriage, although its frequent inclusion of the terms and conditions governing the
transportation. This phenomenon arises due to the fact that, in the majority of cases, the
contractual arrangement between the shipper and the carrier will have been finalised prior to
the issuance of the bill of lading. The legal framework may not sufficiently capture the whole
range of provisions, both explicit and implicit, that were mutually agreed upon by the
involved parties. The shipper possesses the opportunity to substitute the verbal agreement
with evidentiary support.

The case of The Ardennes exemplified a scenario when the shipowner faced legal action for
alleged violation of contract initiated by the shipper. The shipowner provided a defence by
referring to the bill of lading, which contained provisions permitting variations from the
planned path during the course of the journey. According to the court's decision, the
shipowner emerged as the prevailing party in the case. Despite the general inadmissibility of
such evidence in English law for trials pertaining to impartially executed commercial
transactions, the court exercised its discretion to allow the utilisation of oral testimony in the
present case.

According to Lord Goddard, the Chief Justice of the Court of Appeal, it should be noted that
a bill of lading does not constitute the actual contract between the shipowner and the shipper
of the goods. However, it has been acknowledged as valuable evidence of the terms of the
agreement. Lord Goddard further emphasised that the contract itself is established well before
17
The Rafaela S [2003] EWCA Civ 556
the bill of lading is signed, indicating its pre-existing nature. Moreover, in the seminal case of
Cho Yang Shipping Co Ltd v Coral (UK) Ltd,18 the court affirmed the case of Ardennes in
respect of utility and signfincace of bill of lading for evidentiary purposes.

"in English law, the bill of lading is not the contract between the original parties but is
simply evidence of it (for example, The Ardennes.19 Indeed, though contractual in
form, it may in the hands of a person already in contractual relation with the carrier
(for example, a character) be no more than a receipt Rodocanachi v Milburn).20
Therefore, as between shipper and carrier, it may be necessary to inquire what the
actual contract between them was; merely to look at the bill of lading may not in all
cases suffice. It remains necessary to look at and take into account the other evidence
bearing upon the relationship between the shipper and the carrier and the terms of
contract between them”.

4.2. Multimodal nature of Bill of lading and effectiveness

The specification of this transportation method would be included on a multimodal bill of

lading. This document may serve as a contractual agreement whereby the carrier assumes the
responsibility of executing a certain kind of transportation while concurrently coordinating
other transit phases. The bill of lading's obligations may be subject to domestic legislation
such as the Carriage of Goods by Sea Act 1992 and the Hague-Visby Rules. 21 It is
conceivable that a law of this kind may not warrant deliberation on its implementation or
endorsement. Nevertheless, some methods may explicitly reference and enforce the Hague-
Visby Rule across various forms of conveyance, therefore enhancing the rule's level of
acceptance among the business community.22 This highlights the need for further
modifications to the multimodal component and use of the bill of lading, with the aim of
improving its functionalities and efficacy as a negotiable and transferable document.

The bill of lading encompasses several categories, phrases, and components that have been
explicitly specified to emphasise the significance, development, and use of this document. It
continues to make a substantial contribution to the global commerce landscape and provides a
diverse array of services to various sorts of organisations. The endeavours of institutions such
as UNCITRAL have significantly contributed to the facilitation of the use of bills of lading.
Various treaties governing the transportation of commodities over maritime channels
recognise the significance of the bill of lading. 23 In recent times, the Rotterdam Rules have
18
Cho Yang Shipping Co Ltd v Coral (UK) Ltd [1997] 2 Lloyd’s Rep 641
19
The Ardennes [1951] 1 Kb 55
20
Rodocanachi v Milburn [1886] 3 TLR 115
21
Robert Bradgate, and Fidelma White, ‘The Carriage of Goods by Sea Act 1992’(1993) The Modern Law
Review 188, 189
22
Ibid
23
Renaud Sorieul, Jennifer R. Clift, and José Angelo Estrella-Faria, ‘Establishing a Legal Framework for
Electronic Commerce: The Work of the United Nations Commission on International Trade Law
(UNCITRAL)’(2001) 35(1) The International Lawyer 107, 109
shown a tendency to refrain from imposing limitations on the types of transportation
documents or the formats in which these records might be delivered. This action may be
undertaken in order to facilitate the development of alternative modes of transportation,
promissory notes, and many other financial instruments.

The standards have provided distinct treatment to electronic documents in order to enhance
efficiency, facilitate concurrent transactions, enable intelligent contracts, and ensure
reliability. This aligns with the historical evolution of the bill of lading as a highly efficient
and extensively used instrument that has significant significance within the commercial
sector. However, it is necessary to further standardise and harmonise the functions of the
system, particularly in situations when several parties and related contracts are involved. The
incorporation of several modes of transportation in the international movement of
commodities serves as an indication of the continuous evolution of the legal framework
governing this domain. The bill of lading symbolises the adaptable characteristics that allow
it to assume either a passive or active role in implementing international standards throughout
many stages of the transportation process, depending on the specific requirements. By
formulating comprehensive criteria and rules for the use of these instruments, it also
highlights the need of implementing new laws pertaining to multimodal transportation. This
is crucial for the efficient and successful utilisation of bills of lading or other comparable
instruments. Simplification of future disputes and litigation within local courts would provide
notable benefits, since divergent interpretations may lead to disparities in the application of
international law.

4.3. Bill of lading and new developments and threats

This study explores the distinct challenges associated with systemic risks, data privacy and
protection, electronic form and signature, and compliance with anti-money laundering
legislation in the context of electronic systems, specifically within the framework of
Distributed Ledger Technology (DLT).24 The primary likelihood is that a cyberattack may
potentially result in the system becoming inoperable. An illustrative case in point is the
occurrence of data loss pertaining to electronic bills of lading, which are owned by shippers,
transferees, carriers, and consignees.25 The potential loss of prima facie evidence by the
parties may imply a corresponding loss of their rights. One advantage of implementing paper
bills of lading is that, in the event of any issues arising from the paper type or the quality of
ink used, the impact is limited to a relatively small number of bills. The matter at hand
pertains to the identification of the responsible entity that would bear the responsibility for
the aforementioned financial losses.26

The inherent transparency of the DLT system is a notable advantage. By facilitating

unrestricted access to information for parties involved in economic transactions and
enhancing public trust in the system, it is possible to mitigate the extent of informational
asymmetry.27 Moreover, it can facilitate the establishment and enhancement of partnerships

24
Susmitha P Mallaya, ‘DOCUMENTARY CREDIT FRAUDS: NEED FOR REGULATION OF BANKING
SECTOR IN INDIA’(2018) 60(2) Journal of the Indian Law Institute 216, 218
25
Ibid 219
26
Ibid 220
27
Mann Ronald J, ‘The Role of Letters of Credit in Payment Transactions’(2000) 98(8) Michigan Law Review
2494, 2496
between maritime carriers and purchasers, who often operate in separate locations and are
physically distant from each other. Conversely, there exist valid reasons to be apprehensive
regarding the safeguarding of personal information.28 The decentralised ledger technology
(DLT) system, also known as blockchain technology, and the use of encryption during
information transfer have the potential to compromise the security of sensitive data. The
primary objective of maintaining a persistent record of bills of lading within the Distributed
Ledger Technology (DLT) is to effectively deter fraudulent activities and ensure the
authentication of transactions. The very minimal requirement is this. The aforementioned
facts exhibit specificity in relation to each respective individual. The perpetual retention of
data is crucial, as it necessitates both widespread accessibility and transparency to all
participants inside the blockchain or network.

This action contravenes both the legal provisions established to safeguard the confidentiality
of personal information and the fundamental tenets outlined in data protection treaties. The
aforementioned laws hold a higher priority in terms of their influence compared to all other
laws. An example of a regulatory framework that governs the transfer of personal data
throughout the European Union (EU) is the General Data Protection Regulation (GDPR),
which imposes stringent rules. Individuals who violate the regulations outlined in the General
Data Protection Regulation (GDPR), namely by disclosing "any information pertaining to a
living individual who can be identified or is identifiable (subject to subsection 14(c))," may
face criminal prosecution. Nevertheless, it is important to note that there exists a provision
that grants individuals the ability to voluntarily waive their rights to the government's
regulations pertaining to personal data through contractual agreements.

The General Data Protection Regulation (GDPR) defines an individual as a natural person,
implying that it refers to a living human. Undoubtedly, the inclusion of the new definition of
personal data in the General Data Protection Regulation (GDPR) exhibits a comprehensive
breadth, encompassing all existing definitions. In contrast to prevailing public sentiment,
corporations are commonly seen as juridical entities rather than natural individuals. The
majority of bills of lading are commonly employed in commercial transactions among
corporate entities, so endowing them with an independent legal status that is distinct from any
individuals or legal entities that may possess them. It is likely that the data contained in bills
of lading generated by corporate entities is exempt from the limitations imposed by the
General Data Protection Regulation (GDPR). The laws of the country in question should not
be overlooked due to their significant and consequential nature.

The significance of incorporating a digital signature or alternative electronic verification

method during the course of commercial transactions cannot be overemphasised. The
signature encompasses the personal details of the signatory, which are encoded and serve the
purpose of identifying the individual. By employing this methodology, the relevant document
will undergo verification to establish its authenticity. The electronic signature fulfils a
comparable role to that of a conventional signature, although through the utilisation of
electronic means. Furthermore, it has the capability to be utilised on digital platforms,
eliminating the need for physical paper. The utilisation of electronic signatures may give rise
to certain challenges, hence impeding the secure integration of sea carriers with customers
and other relevant stakeholders.

28
Ibid
The identification and linkage of a digital signature, performed either in WordPress or a PDF
document, as opposed to a handwritten signature, cannot be deemed reliable or established in
any way. This phenomenon elicits concerns on the ease with which others can replicate one's
work. In a similar vein, an individual's password has the potential to be compromised by
methods such as theft, skimming, or cloning, hence rendering it insufficient for the purpose
of distinctively identifying said individual. The aforementioned distributed ledger technology
(DLT) has the potential to circumvent this issue, provided that the password remains
confidential. The safeguarding of passwords is essential for ensuring that transactions within
the ledger system are attributed to the rightful possessor of the bill of lading. In this regard,
electronic bills of lading offer enhanced security measures compared to their paper
counterparts, effectively mitigating risks associated with theft and fraudulent signatures. The
lack of uniformity in this domain arises from the inability of various legal systems to reach
consensus on a unified framework of standards and protocols for the collection and protection
of electronic signatures.

The potential for money laundering remains an undiscovered and potentially hazardous area
inside unfettered and digitalized peer-to-peer networks, which serve as the foundation for
electronic bills of lading.29 The participation of national regulators and authorities is crucial in
implementing a bill of lading system that utilises Distributed Ledger Technology (DLT) to
mitigate the risk of digital cesspools being used for money laundering purposes. 30 The
implementation of trade-based anti-money laundering processes can be facilitated through the
utilisation of a permissioned distributed ledger technology (DLT) system that operates under
a centralised authority.31 The implementation of procedures aimed at ensuring accurate Know
Your Customer (KYC) compliance may be necessary in this context. Furthermore, it is
imperative to establish a standardised and cohesive legal framework in order to construct the
design of the Distributed Ledger Technology (DLT) system. The attainment of this purpose
necessitates the assistance of international groups, together with cooperative efforts and
legislative measures.

Consequently, there will be several legal challenges. The involved parties, potentially
originating from many countries, must initially reach a consensus on a law that aligns with
their collaborative endeavour, prior to establishing a standardised and harmonised legal
framework. The bill's transferability qualities are preserved, enabling the utilisation of
electronic bills as valid documents of title within the framework of the Hague Rules and the
Hague-Visby Rules. Another aspect to consider is the legitimacy of utilising electronic
evidence in a court of law. Furthermore, the implementation of specific protocols within
banking institutions can effectively impede money laundering activities during such
transactions. The design of a distributed ledger technology (DLT) necessitates increased focus
on centralised control and warrants the establishment of international standards to regulate its
operations and facilitate coordination among financial institutions and governmental entities.
Furthermore, the implementation of international law is vital in achieving a state of
harmonisation among several nations with regards to electronic signatures. This
harmonisation is crucial in facilitating the successful deployment of the emerging Distributed
Ledger Technology (DLT). The adoption of electronic identity certificates and centralised
evidence of delivery can facilitate communication between purchasers and marine carriers.
Consequently, prior to attaining their complete capabilities, both electronic bills of lading and
29
Nicky Gregson, and Mike Crang, ‘Illicit Economies: Customary Illegality, Moral Economies and
Circulation’(2017) 42(2) Transactions of the Institute of British Geographers 206, 207
30
Ibid 43
31
Ibid
distributed ledger technology (DLT) still have a considerable distance to traverse. Paper bills
of lading continue to demonstrate apparent efficacy and utility, with no significant alteration
in their business sustainability during the intervening period.
Chapter 5: Concluding remarks
5.1. Conclusion

The bill of lading remains the prevailing form of commercial and transportation
documentation. The parties are afforded a significant amount of discretion in the selection of
terms, the determination of applicable legislation, and the allocation of risks, rights, and
duties. The assertion is substantiated by established principles of contract law, statutory
mandates, and widely acknowledged norms in the business community. International
conventions have played a crucial role in facilitating the process of harmonisation and
standardisation. Extensive research and diligent analysis have been dedicated to examining
and evaluating the objectives of bills of lading. Some examples of practises commonly
employed in the realm of logistics and transportation encompass the utilisation of a bill of
lading as a means to establish ownership, the acceptance and delivery of goods, the provision
of evidence pertaining to the carriage contract, the utilisation of collateral and security as a
means to secure funding, and the utilisation of the carriage contract under specific
circumstances. The ramifications and applicability of this phenomenon have shown to be
highly advantageous for a wide range of commercial enterprises. Despite the potential
challenges that may develop, this system has the capacity to cater to a diverse range of
stakeholders, encompassing the carrier, shipper, shipowner, and consignee. This musical
instrument exhibits imperfections. The presence of conflicting interests prevents the
assurance of perfect safety for all persons involved.

Nevertheless, the courts, statutes, and international conventions have endeavoured to strike a
harmonious equilibrium among the diverse stakeholders through the establishment of
obligations, contract interpretation, and regulation of organisational operations. The
formulation of standards is influenced by various factors, including the expansion of global
trade, the increase in travel activities, and the proliferation of business operations. The
fundamental structure and functions of the bill of lading have exhibited a consistent and
foreseeable pattern for several decades. However, further modifications are necessary to
ensure the effective and simultaneous implementation of transactions, the promotion of
certainty in international trade, and the expeditious completion of transactions.

The elimination of the conventional paper bill of lading renders the attainment of this
objective unattainable. The negative consequences would extend to both the instrument's
commercial viability and the global trading landscape. The bill of lading plays a crucial role
in facilitating transactions within collateral markets for the entire duration of commodities'
transportation. It enables the sale, financing, and acquisition of goods. The aforementioned
system operates under the principles of contractual freedom and implicit obligations,
effectively distributing risks in a suitable manner. The broad interpretation of exclusionary
and restriction provisions has the potential to leave the party with less power vulnerable. The
presence of fraudulent activities, delays in transactions, inefficiencies, and unpredictability
present compelling arguments in favour of transitioning to digital methodologies. One
potential approach to accomplish this objective involves making an investment in a
distributed ledger technology (DLT) system that utilises blockchain technology and operates
autonomously, without the need for a centralised authority with restricted access. The
technology has the capability to ensure secure, confidential, and immediate transactions and
interactions among various entities, such as a maritime carrier and a purchaser, or a transferor
and a transferee. The use of this solution has the potential to mitigate bottlenecks arising from
the strict prerequisites for bill of lading submission during goods delivery, as well as address
issues stemming from lost or stolen bills of lading, delayed deliveries, or instances of forgery.

5.2. Recommendations

The non-ratification of The Hague Rules and Hague-Visby Rules serves as an example,
highlighting the traditionally sluggish pace of development in international law pertaining to
the transportation of goods over sea. In contrast, the Rotterdam Rules endorse and
acknowledge electronic papers and transactions in a manner that is characterised by
responsibility, adaptability, and modernization. This observation is supported by the fact that
the development of international maritime law pertaining to the transportation of goods has
historically been characterised by a slow pace of progress. The adoption of a reliable
electronic bill of lading is further hampered by many legal difficulties, each of which
amplifies the challenges posed by the others. The establishment of legal frameworks that
possess the capacity to effectively address significant technological advancements is crucial
for the successful commercialization of emerging technology. It is recommended that a
distinct convention, encompassing multiple states and multiple parties, be formulated for the
purpose of establishing an international system for electronic transport documentation. This
convention should be subject to thorough consultation and implemented promptly, to the
extent that it is feasible. It is recommended that states which have previously established
systems, laws, and legislation supporting electronic bill of lading should proceed with its
implementation. Furthermore, it is imperative to undertake similar action in states that have
previously enacted legislation in support of electronic bills of lading. The presence of
different regulations pertaining to the technology aspects of electronic documentation and
domestic transfers is a significant obstacle that necessitates resolution. This particular issue
stands out as unique in its capacity to be effectively addressed by a combination of soft and
hard approaches in accordance with principles of international law.

The lack of a centralised and coordinated system necessitates attention to privacy concerns
and the possibility of systemic harm, which cannot be disregarded. However, it is imperative
to acknowledge the significant role played by private entities in this context. Unauthorised
systems offer greater transaction efficiency, although they also entail legal dangers due to the
ambiguity surrounding the response and interpretation of such transfers by domestic legal
frameworks. The observed phenomenon can be attributed to the significant variations in
legislative frameworks pertaining to electronic transactions. The utilisation of electronic bills
of lading is vital to ensure the sustained effectiveness of transportation documentation, given
the anticipated demands arising from economic transactions and international trade.
However, it is important to note that the traditional bill of lading should still retain its
relevance and be employed alongside electronic counterparts. The legislation that grants
authorization and regulates a significant portion of the bill of lading and its associated
practises provides validity to electronic bills of lading.

5.3. Limitations and future ideas

The study is limited to an extent of exploring the utility and significance of bill of lading. It
does not evaluate it from different perspectives in future related issues with respect to
electronic nature although it is touched upon but not in a comprehensive manner. In future, it
can be critically evaluated from the said perspectives.
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