International Trade expansion supported by France through introduction of novel legal tools
The French government has passed a significant law aimed at modernizing the trade finance sector, named the "Loi pour l'introduction du Titre transférable dans le système juridique français." The law was published on August 14, 2025, following its passage on June 13, 2024.
This legislation paves the way for the digitization of trade finance transactions, providing a legal framework for the conversion of transferable documents between paper and electronic formats. The law establishes legal and functional equivalence between paper-based and electronic transferable documents, ensuring that both forms maintain the same validity and legal standing.
To ensure the reliability of electronic transferable documents, the law sets out conditions for their transfer, delivery, presentation, and modification. A robust and secure method must be employed to maintain the integrity of these documents throughout their lifecycle.
The concept of "exclusive control" is introduced in this law to address the challenges of dematerialisation. This term refers to the holder's sole authority to claim the performance of rights, modify, and transfer the document. The holder of an electronic transferable document is the person having exclusive control over it, granting them equivalent rights to those of the holder of a paper-based document.
The law also allows for the creation, signing, and storage of transferable documents electronically, further streamlining the trade finance process. With these measures in place, France is well-positioned to lead the way in digital trade finance, fostering efficiency, security, and innovation in the sector.
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