Electronic (Paperless) Trading－Update to Secro Terms and Conditions (No.2) 8 December 2023 No.23-016 Tweet Download PDF (275KB) Members are referred back to our Circular No.023-001 dated 17 May 2023.   In 2022, the International Group (IG) first approved the Secro Customer and User Agreement dated 6th October 2022 (‘the 2022 Customer and User agreement’) and the Secro Standard e-bill of lading. The IG subsequently approved an updated version of the Secro Customer and User Agreement dated 16th March 2023 (‘the March 2023 Customer and User agreement’), as well as use of Secro Customer e-bills of lading in conjunction with the March 2023 Customer and User agreement. The 2022 Customer and User agreement, the Secro Standard e-bill of lading, the March 2023 Customer and User Agreement, as well as use of Secro Customer e-bills of lading, all remain approved for the purposes of Club cover.   This Notice confirms approval by the IG of the following:   An updated version of the March 2023 Customer and User Agreement, dated 13th November 2023 (‘the November 2023 Customer and User agreement’), with changes as follows:   Clause 9.5: changed to allow customers to opt either for the UK or the Singapore subordination clause when using customer-specific templates; Clause 14: addition of the “UK Contracts (Rights of Third Parties) Act 1999” to mirror the “Contracts (Rights of Third Parties) Act 2001” already in place for Singapore; and Clause 15.1: changed to allow customers to opt either for the Singaporean or English jurisdiction. The use of an additional Secro standard e-bill now to be subject to English law and the Electronic Trade Documents Act 2023 (‘the UK Act’). This new Secro standard e-bill is to be identical to the previously approved standard e-bill (subject to Singapore law) but with the following differences:   The additional version is subject to English law and the UK Act. Reference to the Contract (Rights of Third Parties) Act 2001 is deleted