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Goldby, Miriam --- "Substituting data for documents - a new meaning for 'conforming tender'?" [2019] ELECD 2115; in Saidov, Djakhongir (ed), "Research Handbook on International and Comparative Sale of Goods Law" (Edward Elgar Publishing, 2019) 152

Book Title: Research Handbook on International and Comparative Sale of Goods Law

Editor(s): Saidov, Djakhongir

Publisher: Edward Elgar Publishing

Section: Chapter 7

Section Title: Substituting data for documents - a new meaning for ‘conforming tender’?

Author(s): Goldby, Miriam

Number of pages: 28

Abstract/Description:

The performance of a cross-border sale on cost, insurance, freight (CIF) terms depends on the seller’s ability to tender conforming documents to the buyer or to a bank which is either performing a documentary collection service or financing the transaction by adding a separate and independent undertaking to pay on presentation of conforming documents. Transitioning from paper documents to electronic data is desirable for a number of reasons, including: (i) to reduce costs; (ii) to increase efficiencies in the supply chain; (iii) to maximise visibility into business processes, so as to reach a greater understanding of transactional risks and to identify and address unmet customer needs. This chapter addresses the question, what effect would the replacement of paper documents with electronic data have on contractual obligations involving the tendering or presentation of documents? And, more particularly, are commonly applied rules governing such tender and presentation ready for the transition?