In December 2025, the United Nations General Assembly adopted the United Nations Convention on Negotiable Cargo Documents (NCDs), developed under the auspices of UNCITRAL and finalized in July 2025. The Convention represents a significant step forward in simplifying and digitalising international trade by extending the use of negotiable transport documents to all modes of transport.
Currently, transport documents used in rail, road, and air transport are typically non-negotiable. This limits the ability to resell goods while in transit and creates liquidity constraints, particularly for micro, small and medium-sized enterprises (MSMEs) and landlocked countries. The new Convention enables the use of negotiable cargo documents, in both paper and electronic form, across all modes of transport, including multimodal transport, in a manner comparable to maritime bills of lading.
The implementation of the Convention allows goods to be sold while in transit, used as collateral for trade finance, and managed across the supply chain using a single, reliable set of data. This significantly improves cash flow, reduces transaction costs, and increases the flexibility and resilience of global supply chains, especially in times of disruption.
From a policy perspective, the Convention supports investment, including in regional transport corridors, promotes digital transformation, and helps establish a level playing field for countries regardless of their geographical location. Its impact is particularly important for landlocked countries and those relying heavily on overland transport, as it facilitates their deeper integration into global supply chains.
The United Nations emphasises that the Convention is not only about trade facilitation, but also about empowering people, connecting nations, and building a more inclusive and efficient future for global commerce. States and industry stakeholders are encouraged to support its widespread adoption and practical use.
Summary by DigitalTrade4.EU