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London, UK - Sullivan & Worcester (Sullivan) is advising Arqit Limited (Arqit), a leader in quantum-safe encryption, in relation to its documentary framework to support the creation, issue and storage of electronic promissory notes, leveraging the capabilities enabled by this year’s implementation of the Electronic Trade Documents Act 2023 (the ETDA).

The legal framework developed collaboratively between Sullivan and Arqit is designed to ensure a secure end-to-end process by which Arqit’s issue of electronic promissory notes is fully compliant with the ETDA.

Simon Cook, trade and export finance partner at Sullivan advising Arqit, commented: “The structure for this framework is groundbreaking and gives the parties a level of certainty that their electronic promissory notes comply with the new legislation. It is a fascinating area to be working in and illustrates again Sullivan’s continuing involvement at the forefront of the digitalisation of the trade finance industry.”

Dominic Broom, SVP Working Capital Solutions at Arqit, commented: “We have been delighted to collaborate with Sullivan on the creation of the documentary framework. The cost and time benefits of digital treasury enabled by the EDTA are only truly accessible if they come with total transactional security and auditability. Arqit’s TradeSecure™ digital negotiable instruments platform is protected by Arqit’s Symmetric Key Agreement Platform, which hardens complex networks from growing threats to certification and spoofing and is compliant with NSA CSFC Standards for symmetric key management.”

About Sullivan
Sullivan is a leading global law firm. With over 200 attorneys in Boston, London, New York, Tel Aviv and Washington, DC. Sullivan’s clients, including Fortune 500 companies and emerging businesses, rely on Sullivan’s strategic vision, comfort with complexity and intense focus on results. As a global law firm, Sullivan represents clients around the world on a wide variety of matters and issues affecting them globally.

In London, the office’s market-leading and multiple award-winning trade finance practice is the premium provider of legal advice in relation to trade, export and commodity finance transactions to major trade finance banks and other financial institutions, funds, corporate borrowers, agents and trustees, and national and international organisations. The team’s unique offering includes an integrated insurance and dispute resolution service handling both transactional and contentious instructions.

The firm hosts bi-monthly webinars for 100+ clients, addressing key trade and export finance issues, as well as writing its Talking Trade Finance blog and contributing to industry events.

For further information please visit the firm’s website, as well as LinkedIn and Twitter.

Contact:
Simon Cook
Partner, Sullivan
+44 20 7448 1002
scook@sullivanlaw.com