(Uniform Rules for Digital Trade Transactions)
The URDTT are rules designed to be independent and neutral as to the medium used to perform the digital trade transaction. They coexist alongside the eRules (eUCP & eURC) and will further promote the usage of electronic records, documents and data.
The ICC Uniform Rules for Digital Trade Transactions (URDTT) 1.0 are intended:
- for a fully digital environment;
- to be neutral with regard to technology and messaging standards; and,
- to extend into the corporate space, including commercial transactions and the growing community of non-bank providers of financial services.
- The URDTT are designed to be compatible with UNCITRAL Model Laws, including those on Electronic Commerce, Electronic Signatures and Electronic Transferable Records.
The rules will serve as an overarching framework for Digital Trade Transactions thereby providing global standardization, consistency and conformity, providing a collective understanding of terms and definitions, whilst promoting and supporting the usage of electronic records/documents/data.