(1)A document is a “paper trade document” for the purposes of this Act if—
(a)it is in paper form,
(b)it is a document of a type commonly used in at least one part of the United Kingdom in connection with—
(i)trade in or transport of goods, or
(ii)financing such trade or transport, and
(c)possession of the document is required as a matter of law or commercial custom, usage or practice for a person to claim performance of an obligation.
(2)The following are examples of documents that are commonly used as mentioned in subsection (1)(b)—
(a)a bill of exchange;
(b)a promissory note;
(c)a bill of lading;
(d)a ship’s delivery order;
(e)a warehouse receipt;
(f)a mate’s receipt;
(g)a marine insurance policy;
(h)a cargo insurance certificate.