International Payments (1988-1992)

UNCITRAL has done significant work in the field of payments. Already in 1987, the UNCITRAL secretariat prepared the UNCITRAL Legal Guide on Electronic Funds Transfers (1987) to provide guidance in the then-emerging field of electronic payments. The UNCITRAL Model Law on International Credit Transfers (1992) likewise provided early guidance on the legal treatment of cross-border payments, including when involving the use of electronic means. The Model Law defines the obligations of the parties as well as their liability.

The United Nations Convention on International Bills of Exchange and International Promissory Notes (New York, 1988) presents, for optional use in international transactions, a comprehensive set of rules for international bills of exchange and international promissory notes that satisfy its requisites of form. The United Nations Convention on Independent Guarantees and Stand-by Letters of Credit (New York, 1995) seeks to facilitate the use of independent guarantees and standby letters of credit, in particular where only one or the other of those instruments may be traditionally in use.

Recognizing and Preventing Commercial Fraud: Indicators of Commercial Fraud (2013) is a Secretariat informational note published for educational purposes and fraud prevention.