Governing Council approves draft UNCITRAL/UNIDROIT Model Law on Warehouse Receipts for submission to intergovernmental negotiations at UNCITRAL

At its 102nd session, held on 10-12 May 2023 in Rome, the Governing Council unanimously approved the draft UNCITRAL/UNIDROIT Model Law on Warehouse Receipts, to be submitted next to intergovernmental negotiations at UNCITRAL. The joint project to develop a Model Law on Warehouse Receipts had been proposed by UNCITRAL in 2019. Over the period 2020-2023, a UNIDROIT Working Group, composed of multidisciplinary experts from around the globe and chaired by Governing Council Member Professor Eugenia Dacoronia, negotiated the text of the draft Model Law.


The draft Model Law on Warehouse Receipts is conceived as a stand-alone instrument for adoption by States seeking to reform their national legislation. It consists of a set of black-letter rules covering the private law aspects of a warehouse receipt system, contemplating the issuance and transfer of both electronic and paper warehouse receipts alike. It is anticipated that the draft Model Law will be negotiated by a UNCITRAL Working Group over a one-year period, for adoption of the final text in mid-2024. The Model Law will be accompanied by a Guide to Enactment, offering an article-by-article commentary as well as guidance on the subsidiary legislation required to implement the Model Law at the domestic level.


The draft Model Law on Warehouse Receipts as approved by the Governing Council at its 102nd session can be found at C.D.-102-4-rev-Model-Law-on-Warehouse-Receipts.pdf ( Further information on the joint project on the Model Law of Warehouse Receipts is available on the UNIDROIT website at

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