Part 2: URDTT, Uniform Rules for Digital Trade Transactions
Part Two of the Havona three part blog series on the key frameworks on the road to implementing digital trade and the transfer of electronic records in international trade.
The International Chamber of Commerce and URDTT
The International Chamber of Commerce (ICC) is a non-profit group that helps countries around the world trade and invest by supporting 45 million businesses from over 100 countries around the world. It gives businesses a place to share ideas, talk about best practices, and push for policies that help global trade.
The ICC has made a big difference in the development of international trade law. For example, it helped make the Uniform Rules for Digital Trade Transactions (URDTT). The URDTT is a set of rules about how electronic documents and transactions can be used in international business.
How MLETR and URDTT are related
As mentioned in our previous post ( The Model Law on Electronic Transferable Records (MLETR)), the Model Law on Electronic Transferable Records (MLETR) is a set of rules that UNCITRAL made to make it easier to use electronic transferable records legally. The MLETR and the URDTT are very similar because the URDTT is based on the ideas of the MLETR.
The goal of the URDTT is to make sure that electronic documents and transactions in international trade are clear and legal. By doing this, it hopes to encourage the use of electronic commerce and make it easier to do business across borders.
Knowing the same rules for all digital transactions
The URDTT is made up of 17 articles that describe how electronic documents and transactions can be used in international trade. These rules cover a wide range of things, from what electronic records and signatures are to how they are verified and whether they can be used in court.
Article 1 describes what the URDTT covers, which is any business transaction that uses electronic records and electronic signatures.
Article 2 defines terms like "electronic record" and "electronic signature" that are used in the rules.
Articles 3–7 explain how to use and accept electronic records, including requirements for their authenticity and integrity, encryption, and the use of electronic seals.
Articles 8–10 explain how electronic records and signatures are treated by the law, including whether or not they can be used in court.
Articles 11 through 15 cover the transfer and assignment of electronic records, including the rules for sending and receiving electronic records. Article 16 talks about when and where electronic records are sent and received.
Article 17 discusses about who is responsible if electronic records are not sent or received.
In the end, the URDTT gives a complete set of rules for how electronic records and transactions can be used in international trade. The rules are meant to encourage the use of electronic commerce and make cross-border transactions easier by making the law clear and certain. The URDTT is closely related to the MLETR because both try to make it easier to legally use transferable electronic records and get more people to use digital trade transactions.
