Uniform Rules for Digital Trade Transactions (URDTT) Draft 2


In a recent blog, we made reference to a 2nd draft of the rules being distributed to ICC National Committees. This was done in early February 2020, with a request for responses by early April 2020. 


As a reminder, the rules have been re-named Uniform Rules for Digital Trade Transactions (URDTT) in order to bring them in line with the actual content, and now include Preliminary Considerations which provide guidance. 


Further key changes from the initial draft of the rules include:


  • Time limit added for requesting the re-submission of an electronic record that has been affected by data corruption.
  • New definitions for ‘Submitter' and ‘Addressee'.
  • ‘Confirmation' is now addressed in a separate self-contained article.The way in which the term "confirmation" is used in the draft URDTT rules has a broader meaning than the meaning ascribed to "confirmation" in the context of a documentary credit.




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