Conclusion
The universal implementation of the ML-ETR will enhance international and domestic 11.34 trade by facilitating the incorporation of electronic instruments and communications.
As well as encouraging business and enterprises to engage in international trade, the ML-ETR will support ancillary enterprises providing transport, logistics, finance, and insurance. Implementation of the ML-ETR would almost certainly improve the speed and security of trade-finance transactions and would facilitate the development of self-executing, ‘smart’ finance contracts. Moreover, the ML-ETR will facilitate technological innovation and electronic design, providing clarity and certainty regarding the use of ETRs in trade finance, whether bills of lading, bills of exchange, promissory notes, or warehouse receipts. ETRs are likely to prove fundamental to the future of the trade finance environment.
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