UNCITRAL Working Group IV

The United Nations Commission on International Trade Law, recognising the need for an international regime to  facilitate the cross-border use of electronic transferable documents (including eB/Ls), has reaffirmed the mandate of Working Group IV to continue work in this field. The Group met last week in Vienna, and noted that its scope of work should be broad enough to encompass electronic transferable records in the transport and finance sectors. It was further agreed that the Group should not deal with any matters governed by substantive law, but should concentrate instead on ensuring that electronic records are the functional equivalent of paper records. The Group stressed the need for technological and system neutrality in all its work.  The next meeting will be held in New York in May 2013 at which the Group will consider a first draft of an instrument regarding the use of electronic transferable records in international trade.