The Uniform Rules for Digital Trade Transactions (URDTT) Version 1.0 came into force on 1st October 2021. A link to the rules, , can be found at https://2go.iccwbo.org/uniform-rules-for-digital-trade-transactions-urdtt-version-1.html?_cldee=ZGF2aWRtZXluZWxsQGFvbC5jb20%3d&recipientid=contact-689a10b76830e911a99c000d3ab38525-5a4f27ebb3c34a15ac2ea3f1fdfed756&esid=87d220a9-eb24-ec11-b6e5-000d3abad39c
And an FAQ document at https://file-eu.clickdimensions.com/iccwboorg-avxnt/files/202101001urdttfaqv1.0.pdf?m=10/4/2021%208:44:00%20AM&_cldee=ZGF2aWRtZXluZWxsQGFvbC5jb20%3d&recipientid=contact-689a10b76830e911a99c000d3ab38525-5a4f27ebb3c34a15ac2ea3f1fdfed756&esid=87d220a9-eb24-ec11-b6e5-000d3abad39c
As highlighted by the ICC Banking Commission, the URDTT are rules designed to be independent and neutral as to the medium used to perform the digital trade transaction. They co-exist alongside the eRules (eUCP & eURC) and will further promote the usage of electronic records, documents and data.
Two webinars have already been held by the co-chairs of the drafting group - David Hennah, IGTB, and Geoffrey Wynne, Sullivan & Worcester UK LLP, together with the advisers to the drafting group, Gary Collyer, Collyer Consulting Global LTD, and David Meynell, TradeLC Advisory, to showcase the rules, explain the background behind them, how they will work and be used.
It is anticipated that later this year, this will be supplemented by input from the Commercialisation sub-stream which was established earlier this year with cross-industry representation from all key trade regions. The Commercialisation Group is examining both the ICC eRules and the URDTT and is developing a framework to evaluate the challenges and ideas to drive commercialisation /adoption going forward.