Vietnamese-coordinated resolution on Model Law on Automated Contracting approved
(VOVWORLD) - The Committee on Legal Affairs of the UN General Assembly has adopted a resolution negotiated under Vietnam's chairmanship on the Model Law on Automated Contracting.
 An overview of the plenary session of the UN General Assembly’s Committee on Legal Affairs. (Photo: Quang Huy/VNA’s correspondent in the US) |
Drafted in 2022 by the UN Commission on International Trade Law and finalised in July 2024, the law provides a legal framework for using automation in international contracts, including artificial intelligence techniques, “smart contracts”, and machine-to-machine transactions.
The resolution, along with the Model Law, will be submitted to the UN General Assembly in December for consideration and adoption.
The Model Law on Automated Contracting is a new UN initiative to help countries refine their legal systems to regulate new commercial transaction methods, effectively addressing new legal challenges while maximising opportunities brought by the use of automation and AI in commerce and contributing to a fair and transparent legal framework for e-commerce.