Australian Government undertaking a public consultation to advise on options for implementing legislation aligned with the Model Law on Electronic Transferable Records (MLETR).
The MLETR is a model law developed by the UN Commission on International Trade Law (UNCITRAL).
It contains a set of provisions which, if adopted into domestic law, would confirm that transferable records in the form of electronic data (or ‘electronic transferable records’) have the same legal status as traditional paper versions of those documents.
Implementing the MLETR would give industry the confidence to choose to use electronic ways of managing transferable records, and so enjoy any associated efficiencies or other benefits.
‘Transferable records’ include paper documents like bills of lading, bills of exchange, warehouse receipts, letters of credit, transferable insurance certificates, promissory notes, and other documents which give the ‘possessor’ rights to goods or money.
Who we want to hear from
We are interested in views from:
- trade participants (including exporters, importers and shippers involved in domestic and cross-border trade)
- trade facilitators (including freight forwarders, logistics companies, banks and insurance companies)
- legal experts
- technology providers (including developers and operators)
- academics
- relevant representative organisations and peak bodies
- individuals with an interest in trade and trade finance.
We invite individuals and organisations to share your views. The consultation opens on 16 September 2024 and closes on 28 October 2024.