Reliable Electronic Transferable Records
The United Nations Commission on International Trade Law (UNCITRAL) has adopted a Model Law on Electronic Transferable Records. The text of the Model Law and a Guide to its Enactment are available. This project has received previous attention on Slaw in 2011, 2012, and 2016.
Transferable records, such as negotiable instruments, carry property rights with them, allowing the transfer of property by transferring the document. Examples include warehouse receipts and bills of lading. It is crucial that only one document authorizes its holder to demand production of the property.
Transferable records are those that carry property rights with them, so one can transfer the property by transferring the document.
- Examples of transferable records include:
- Negotiable instruments
- Warehouse receipts
- Bills of lading
Author's summary: UNCITRAL adopted a Model Law on Electronic Transferable Records.