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As previously highlighted, a 2^nd draft of the rules was distributed to ICC National Committees in early February 2020, with a request for responses by early April 2020. 

As a reminder, the rules have been re-named Uniform Rules for Digital Trade Transactions (URDTT) in order to bring them in line with the actual content, and now include Preliminary Considerations which provide guidance. 

Further key changes from the initial draft of the rules included:

• Time limit added for requesting the re-submission of an electronic record that has been affected by data corruption.
• New definitions for ‘Submitter' and ‘Addressee'.
• ‘Confirmation' is now addressed in a separate self-contained article.Theway in which the term "confirmation" is used in the draft URDTT rules has a broader meaning than the meaning ascribed to "confirmation" in the context of a documentary credit.

The initial draft of the rules received almost 700 comments. It would appear that there now exists a deeper understanding of the scope of the rules, as draft 2 only received approximately 250 comments.

The 3^rd draft has now been distributed in ICC National Committees, on 5 June 2020, with a request for responses by the end of July 2020.

We will keep you updated on progress. 

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