According to Air Cargo News:

On December 15th, the United Nations (UN) General Assembly adopted a convention provides legal recognition on negotiable cargo documents that will enable goods to be bought, sold, or used as collateral during transiting. FIATA noted that the adoption is significant for global transportation and supply chains, greatly enhance flexibility and support the digital transformation in global trade as well.

Transport documents issued by rail, road and air, such as consignment notes or air waybills, cannot be transferred to another party during transport, which also means cargo cannot be sold or transferred between parties in the process of transit. However, the new convention will establish negotiable cargo documents which can be applied across all modes of transport and only need to state on the bill of lading indicating that it is subject to the convention.

In all, the convention has substantial impact on related industry, which is expected to relieve the financial pressure on enterprises, especially small and medium-sized ones, reduce the transaction costs of overland trade, enhance transaction efficiency, and inject new motivation into global trade and economic development.

总体而言，该公约对相关产业产生了重大影响，预计将缓解企业，尤其是中小企业的财务压力，降低陆上贸易的交易成本，提升交易效率，并为全球贸易和经济发展注入新动力。

The signature ceremony for the convention is expected to be held in the second half of 2026, and will enter into force after the ratification process is completed in ten countries. According to FIATA, industry stakeholders can start to familiarize with the convention in advance, in order to understand its legal significance, adapt the operational use, while businesses can realize its benefits in the future.

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