On 26 March 2020, UNIDROIT and UNCITRAL co-organised a webinar to discuss with a broader expert audience the proposal of developing an international Model Law on Warehouse Receipts.
The webinar’s purpose was to consider global experiences with modernizing warehouse receipts systems and emerging trends with a view to identifying the main legal issues leading to the development of a Model Law on Warehouse Receipts.
The webinar gathered input from a multidisciplinary group of selected experts from various geographic regions representing academia, stakeholders, institutional actors, and international organisations active in the field. UNIDROIT was represented by Secretary-General Professor Ignacio Tirado, Legal Officer Ms Philine Wehling, and Legal Consultant Mr Hamza Hameed.
Overall, participants concluded that there is a need for an international Model Law on Warehouse Receipts that would cover the private law aspects of a warehouse receipts system. The Model Law should accommodate new developments in the sector, including the challenges and opportunities presented by new technologies, and serve as a legislative model for countries seeking to modernize their domestic legislation. The summary and conclusions of the webinar will be made available on the UNIDROIT website.