(1) A carrier may issue an electronic bill of lading by means of registration with the registry agency designated by the Minister of Justice with the consent of a consignor or charterer in lieu of issuance of a bill of lading referred to in Article 852 or 855. In such cases, an electronic bill of lading shall have the same legal effect as a bill of lading referred to in Articles 852 and 855.
(2) Information required under the subparagraphs of Article 853 (1) shall be included in an electronic bill of lading, and it shall come into effect when a carrier has transmitted with his/her electronic signature thereon and a charterer or consignor has received it.
(3) A holder of a right of an electronic bill of lading may transfer such right in a way that he/she draws up an electronic document stating his/her intention of endorsement, attaches an electronic bill of lading thereto, and transmits them to the other party through the designated registry agency.
(4) If the other party has received an electronic document in which the intention of endorsement is stated according to the method prescribed in paragraph (3), it has the same effect as delivery of a bill of lading under Articles 852 and 855 with endorsement, and a holder of a right who has received an electronic document under paragraphs (2) and (3) shall acquire the same right as a holder who has received a bill of lading under Articles 852 and 855.
(5) Eligibility requirements for a designated registry agency of electronic bills of lading, electronic methods for the issuance and endorsement thereof, detailed procedures for receiving cargo, and other necessary matters shall be prescribed by Presidential Decree.[This Article Wholly Amended by Act No. 8581, Aug. 3, 2007]