GLOSSARY
MLETR (Model Law on Electronic Transferable Records)
UNCITRAL model law enabling electronic documents like bills of lading to have the same legal effect as paper originals.
The Model Law on Electronic Transferable Records is a 2017 UNCITRAL framework that establishes functional equivalence between paper and electronic transferable records, including bills of lading, bills of exchange, and promissory notes.
Why it matters
MLETR adoption determines whether an electronic bill of lading you receive is legally enforceable in a given jurisdiction. The UK enacted MLETR principles through the Electronic Trade Documents Act 2023, joining Singapore, Bahrain, and others. When your counterparty issues an eBL, check whether both the originating and destination countries recognize electronic transferable records under MLETR or equivalent legislation.
For finance teams, MLETR compliance means you can present electronic documents to banks for documentary credits without converting to paper, reducing courier costs and transit delays by days.