Technology and Trade Finance Law: 3CL Seminar

Speaker: Associate Professor Dora Neo (National University of Singapore)

With the advancement of technology, delivery of financial services, such as payment services, can be achieved almost instantaneously. In the area of trade finance, however, banks have been less quick to harness technology for trade digitalisation. An important reason is that trade financing has historically been heavily dependent on the use of paper. While digitisation of trade documents is easily done, the digitalisation of trade finance requires a supportive legal framework to ensure that concepts like possession, which were developed in relation to tangible documents, can operate in the digital world. In the UK, this framework is now provided by the Electronic Trade Documents Act 2023 which has been described to be "one of the most important bills you have never heard of". Singapore instituted a similar framework by amending its Electronic Transactions Act in 2021. These legislative developments were based on the UNCITRAL Model Law on Electronic Transferable Records (MLETR), which has gained increasing global influence since its adoption in 2017. This seminar discusses how the landscape of trade financing affects the use of technology, analyses recent legal developments relating to electronic trade documents, and identifies remaining challenges for trade digitalisation.

Biography: Dora Neo is an Associate Professor at the Faculty of Law, National University of Singapore. She was the founding Director of the Faculty’s Centre for Banking & Finance Law, which she led for some ten years from 2013. Her areas of focus include the modernisation of trade finance law, global developments in secured transactions law, consumer protection in the finance industry and contract law. Her publications include Trade Finance: Technology, Innovation and Documentary Credits (co-edited with C Hare, Oxford University Press); The Law and Practice of Documentary Letters of Credit (co-authored with E P Ellinger, Hart Publishing);Secured Transactions Law in Asia: Principles, Perspectives and Reform (co-edited with L Gullifer, Hart Publishing) and Studies in the Contract Laws of Asia V: Ending and Changing Contracts (co-edited with M Chen-Wishart and S Vogenauer, Oxford University Press, forthcoming). In Michaelmas Term 2025, she is an academic visitor at the Cambridge Law Faculty under the sponsorship of the Centre for Corporate and Commercial Law (3CL), and a Visiting Fellow at Wolfson College.

3CL runs the 3CL Travers Smith Lunchtime Seminar Series, featuring leading academics from the Faculty, and high-profile practitioners.

For more information see the Centre for Corporate and Commercial Law website:

http://www.3cl.law.cam.ac.uk/