The Uniform Rules for Transferable Electronic Payment Obligations (URTEPO)
Geoffrey Wynne spoke with Lorna Pillow, Deputy Chairperson of ITFA, at a Q&A session at ITFA’s 48th Annual International Trade and Forfaiting Conference in Porto, to discuss ''The Uniform Rules for Transferable Electronic Payment Obligations (URTEPO) - a rose by any name." Forfaiting is back with a modern suit of clothes! ITFA’s origin story is re-booted to (re)create a market that will bring liquidity and new investors.
The session discussed the need for the introduction of these new rules, as well as their relevance, scope and objectives in assisting participants to allow for an electronic payment obligation, however created, to be transferred easily and securely to help make the market more liquid, as well as looking at how the rules are designed to enable those with vision to create a digital forfaiting market for this new class of trade assets.