Examples of using Transferable documents in English and their translations into Russian
{-}
-
Official
-
Colloquial
The Model Law does not aim to affect in any manner existing law applicable to transferable documents or instruments, which is referred to as“substantive law”
Transferable documents or instruments are paper-based documents
its operation in connection with electronic transferable records should reflect the limitations to the use of the same principle in paper-based transferable documents or instruments.
It was further explained that, once the functional equivalent of possession was achieved, effects such as negotiability would derive from substantive law applicable both to electronic and to paper-based transferable documents.
the Working Group considered whether its scope of work should be confined to the transposition of paper-based transferable documents to the electronic environment
While another suggestion was to delete the definition of"paper-based transferable document or instrument", it was noted that there was a need to retain the definition in order to reflect the underlying rule that the law governing paper-based transferable documents or instruments was not affected by the draft provisions as stated in article 1, paragraph 2.
It was noted that the variance in the substantive laws governing paper-based transferable documents or instruments, particularly with respect to their use for security right purposes,
by substantive law. Instead, the issue to be considered was the creation of the form of an electronic transferable document that could achieve functional equivalence with a transferable paper-based document. .
transfer of electronic transferable records to bearer in the same manner as paper-based transferable documents or instruments, a result which was already achieved in draft article 1, paragraph 2.
elsewhere in the draft Model Law stating that the draft Model Law would not affect the application of any rule of law governing security rights in paper-based transferable documents or instruments or electronic transferable records.
if the final form of the draft provisions were to be a treaty, certain paper-based transferable documents or instruments should also be excluded from its scope of application in order to avoid conflicts with
It was pointed out that while examples of domestic legislation on electronic transferable documents suggested some need for legislation, and that some domestic legislation had been effective,
Transferable documents, also called documents of title,
Draft article 10.[Paper-based transferable document or instrument][Operative electronic record]
Paper-based transferable document or instrument.
Hence, the same substantive law applies to a transferable document or instrument and to the electronic transferable record containing the same information as that transferable document or instrument.
Upon issuance of the electronic transferable record in accordance with paragraphs 1 and 2, the transferable document or instrument shall be made inoperative and ceases to have any effect or validity.
Nothing in this Law affects the application to electronic transferable records of rules of private international law governing a transferable document or instrument.
It was said that the term"financial instrument" contained in paragraph 2 was too broad as it could encompass certain types of paper-based transferable document or instrument.
Thus, the Working Group engaged in a preliminary discussion about the definition of the terms"paper-based transferable document or instrument" and"electronic transferable record" as provided in draft article 3.