Written by Matilda Johnson and Jacqueline Cook
In this blog, we take a look at some new jargon and key terms that you might come across in your transactions or industry discussions in the coming months.
Trade & Export Finance
Uniform Rules for Transferable Electronic Payment Obligations (URTEPO)
URTEPO is published by the International Trade and Forfaiting Association (ITFA) and aims to provide the trade and forfaiting industry with a robust framework within which to operate with confidence and enable the modernisation of the traditional forfaiting market. URTEPO allows for the payment obligation in question to be created by any means possible, so long as it is digital and transferable. The rules are compatible with the principles behind new legislation in this area, including the UK’s Electronic Trade Documents Act 2023 (ETDA).
