The use of Electronic Transferable Records (ETRs) in trade is poised to move from concept to commercial reality. The obvious driver is that more economies are aligning to the UNCITRAL Model Law on Electronic Transferable Records (MLETR)1: economies accounting for 62.5% of global exports are either aligned to or have committed to do so with visible signs of their progress. Growing awareness around the use of electronic bills of lading (eBL) is also helping, with the share of eBLs amidst the total pool rising to roughly 12% as of December 2025.

Yet questions remain about how and why ETRs could play a catalytic role in digitalising trade, particularly for countries just starting their journeys. ETRs cover only seven of 36 key trade documents, the most notable of which are electronic bills of lading, electronic bills of exchange and promissory notes, and electronic warehouse receipts. These documents sit at the critical junctures of the supply chain, covering the shipment, receipt and financing processes. No supply chain can operate without them, and thus, these records also contain the core data of a given supply chain. A supply chain that can successfully implement ETRs will find it much easier to drive digitalisation of the other parts of the chain.