Comparison and Application of the Model Law of Electronic Transferable Records and the Electronic Trade Documents Act 2023 (UK)

Abstract

This article analyses and compares the UNCITRAL Model Law of Electronic Transferable Records (MLETR) with the Electronic Trade Documents Act 2023 (UK) (ETDA).  The purpose is to provide consideration for the preferable approach, wording, structure and provisions for possible enactment into law with a focus on International Trade.  Both the MLETR and ETDA are intended to give effect to the electronic equivalent of certain transferable documents and instruments used in international trade which the law has typically regarded as being paper based only.  These documents and instruments typically have the feature of encompassing an obligation or right to payment or possession of goods, and include bills of lading, warehouse receipts, bills of exchange and promissory notes typically utilised in an International Trade and Maritime context.