Various attempts have been made since the last century for digitalization of trade-related documents, in particular bills of lading, and services by many system providers are already offered and used in practice. However, legal effects of those services are based on the contractual arrangements among the participating parties through agreements to the terms and conditions of the services. Recently, many countries are moving for legislation to give electronic trade-related documents the same legal effects as previous paper documents so that they have effects vis-à-vis non-participating parties. In Japan, “Study Group for Digitalization of Business Law” established by Japan Institute of Business Law (chaired by Professor Tomotaka Fujita of University of Tokyo) conducted studies for legislation for digitalization of bills of lading and others since 2021 and published its Report in April, 2022. In response to this, “Sub-committee of Commercial Law (Bills of Lading, etc.)” (chaired by Professor Fujita) has been newly established in the Legislative Council of the Ministry of Justice and further deliberations for legislation are continuing since April 2022. Mr. Akiyoshi Ikeyama, attorney-at-law at our corporation, is participating for deliberations in the Study Group and the Sub-committee in the Legislative Council as a member.
Please refer to (link (Japanese only)) for the Report and meeting minutes of the above Study Group, and to (English) for an extracted English translation of the draft legislation outlines in the Report prepared by Mr. Ikeyama together with his notes. (The draft is yet an initial unofficial working draft only, to be further deliberated at the Legislative Council. Ideas behind the draft are discussed in detail in the supplemental explanatory notes of the Report, which are not translated. Please also note English translation and his notes are all his personal works only and the Study Group is not at all involved.)
