Electronic Transferable Records – Canada Steps Up
The new federal omnibus bill on the economy – Bill C-39, the Building Canada Strong Act – contains in Part 2 (“Keep Canada Moving”) Division 8, the Enabling Digital Trade Act.
This text implements for international trade in Canada the UNCITRAL Model Law on Electronic Transferable Records (MLETR). It allows, though does not require, the use of electronic versions of transferable records. Transferable records transfer title to the goods or sums mentioned in them by the transfer of the records themselves. Bills of lading are a common example, promissory notes another.
The provisions are a pretty straighforward reproduction of MLETR. . . . [more]


