Standardised Wording For Negotiable Instruments - The ePU
Geoffrey Wynne presented, together with André Casterman, Founder of Casterman Advisory and Chair of ITFA’s Fintech Committee, at ITFA’s members-only webinar on "Standardised Wording for Negotiable Instruments - The ePU" which was held on August 2, 2022.
ITFA launched the Digital Negotiable Instruments (DNI) Initiative in 2019 to recognise the strategic importance for the market to move negotiable instruments into the 21st century. It focuses on maximising interoperability to avoid building yet another closed digital island. This is why the DNI Initiative developed the electronic Payment Undertaking (ePU) that offers standardised wording for bills of exchange and promissory notes.
The session looked at how the ePU contributes to the standardisation of negotiable instruments, how it caters for interoperability at a global level, other standards which are being developed and how banks, corporates and vendors will benefit.