Electronic Transferable Records (ETR) are digital documents that can be transferred and used to convey title or rights, equivalent to paper-based transferable documents like bills of lading or promissory notes. They allow businesses and individuals to transfer ownership or rights electronically, without needing physical documents.
ETRs are legally recognised under frameworks like the UNCITRAL Model Law on Electronic Transferable Records (MLETR), ensuring they have the same validity as paper documents.
ETRs are used in:
- Trade and shipping. ETRs replace paper bills of lading, making international trade faster and more secure.
- Finance. Digital promissory notes enable quick and secure lending.
- Logistics. Warehouse receipts in electronic form improve inventory management.
ETRs improve efficiency, reduce fraud, and enable seamless transactions across borders.