Interaction Between the MLES and the MLEC

Electronic signatures are essential for the development of trade finance in digital form. With the increased use of electronic authentication techniques, electronic signatures could be used widely in electronic trade finance. To accommodate the authentication technology and various levels of security in the context of electronic signatures, it is necessary to establish an internationally acceptable legal framework. To adapt to the rapidly developing techniques of electronic signatures, the Model Law on Electronic Signatures(the MLES) adopted by the United Nations Commission on International Trade Law (the UNCITRAL) lays down some basic principles of law as to electronic signatures. The rules contained in the MLES are derived from the Model Law on Electronic Commerce (the MLEC) also adopted by the UNCITRAL. The MLES is fully consistent with both the substance and the terminology of the MLEC, but it further adopts rules on electronic signatures and can satisfy the flexible requirements contained in the MLEC. The MLES adds substantially to the MLEC and therefore the relationship of the MLES with the MLEC deserves to be discussed in detail.