The United Nations Commission on International Trade Law (UNCITRAL) has just published the official report on the last meeting of the Working Group on Electronic Commerce.Giusella Finocchiaro took part in the official meeting as the representative of Italy. The topic is a possible legislation on electronic transferable records. Here are some of the key issues raised before the UN group.
-Is there a market demand for international rules governing electronic transferable records?
-Should such rules cover both negotiable instruments and documents of title?
-What should the rules be? Should the UN leave room for both “digital objects” that can satisfy the requirements to be unique and transferable, and registers of title interests in the underlying assets?
– If a register system is chosen, how does one sort out the priorities between the various domestic registries and the eventual international registers?
– Is there a demand for electronic documents or records either at domestic or in international trade?