Enigio will participate in the upcoming webinar to be held on November 10 by the International Trade and Forfaiting Association (ITFA) Fintech Committee in collaboration with the United Nations Commission on International Trade Law (UNCITRAL).
The webinar will take an in-depth look at the UNCITRAL Model Law on Electronic Transferable Records (MLETR) and ITFA’s DNI Initiative's legal aspects.
Some of the key topics to be discussed include how banks can digitise trade documents, avoid the use of paper originals, and recognise digital originals. The panel will also take a look at the MLETR and the dDOC specifications and how Distributed Ledger Technology (DLT) is helping trade. Finally, there will be a discussion on whether regulators are open to the idea of digitising trade instruments.
The panel has several speakers from various sectors and partners, including Enigio, ITFA, Queen Mary University of London, Lloyds Bank and Traydstream.
Enigio's Lars Hansen will specifically explain why trace:original adheres to UNCITRAL’s MLETR and ITFA’s dDOC specifications. The use cases of Bank Guarantees and Bills of Exchange will also be discussed as well as how trace:original is solving the problem of interoperability of electronic records.
UNCITRAL is the leading legal body of the United Nations that handles issues on International Trade Law. In 2017, UNCITRAL endorsed ITFA's Uniform Rules for Forfaiting (URF 800), which are the only recognised rules for receivable finance.