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ARTICLE · 26 MARCH 2021

Singapore's Electronic Transactions Act Expanded To Include Transferable Instruments

Jones Day
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Electronic records and electronic signatures have generally been legally recognised in Singapore under the ETA since 1998.

SingaporeStrategy
Elizabeth Cole
Elizabeth Cole
Sushma Jobanputra
Sushma Jobanputra
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In Short

The Situation: On 1 February 2021, Parliament passed the Electronic Transactions (Amendment) Bill (Bill No. 1/2021) ("Bill"). The Bill enables the creation and use of electronic transferable records ("ETRs") and expands the scope of electronic instruments afforded legal recognition under the Electronic Transactions Act (Chapter 88) ("ETA") to various trade documents including negotiable instruments, bills of exchange, promissory notes, bills of ladings and other transferable documents ("Transferable Instruments").

The Background: Electronic records and electronic signatures have generally been legally recognised in Singapore under the ETA since 1998. However, the ETA currently excludes certain prescribed categories of contracts, including Transferable Instruments, from this regime.

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