Thompson Coburn partner Lee Podair and associate Mona Patel authored a Secured Lender Magazine article in the Jan/Feb 2024 edition that details the legal framework prescribed by Articles 7 and 9 of the Uniform Commercial Code (UCC) for a secured lender seeking to perfect its security interest in electronic bills of lading.
“Among the numerous pieces of paper that accompany shipments (certificates of origin letters of credit and others), bills of lading are arguably the most important, as they serve several significant purposes,” Lee and Mona wrote. In addition to detailing electronic bills of lading (“EBOLs”) as they pertain to Articles 7 and 9 of the UCC, they outline several difficulties in digitization and what lies ahead as the market and technology evolve. “While there is a great deal of interest in the digitization of bills of lading, there have been challenges in building one uniform system on an international level.”
Read the full article here.
Although we would like to hear from you, we cannot represent you until we know that doing so will not create a conflict of interest. Also, we cannot treat unsolicited information as confidential. Accordingly, please do not send us any information about any matter that may involve you until you receive a written statement from us that we represent you (an ‘engagement letter’).
By clicking the ‘ACCEPT’ button, you agree that we may review any information you transmit to us. You recognize that our review of your information, even if you submitted it in a good faith effort to retain us, and, further, even if you consider it confidential, does not preclude us from representing another client directly adverse to you, even in a matter where that information could and will be used against you. Please click the ‘ACCEPT’ button if you understand and accept the foregoing statement and wish to proceed.