Ten years after it was first published by SITPRO, the International Trade Transaction Framework Model (ITT) looks to have been given a new lease of life. A meeting at the 11th UN/CEFACT Forum in Stockholm which set out to establish relevance and validity of the ITT model to the modern trading environment concluded that it still provided an authoritative and powerful representation of international trade. The ITT illustrates the parties, roles and processes involved in a typical trade transaction from contract negotiation through the various stages of delivering the goods to final payment. It was developed in such a way as to allow use as both an educative tool and an operational model for trade practitioners.
The International Trade Procedures Working Group and the Business Process Analysis Group have decided that the ITT should be integrated into UN/CEFACT International Supply Chain Reference Model that directs and drives the trade facilitation and eBusiness work programme of the Forum. They are therefore planning to update the model where necessary and review the accompanying narrative, identifying areas that could be improved using trade facilitation tools and techniques.
Return to SITPRO News: Issue 62, Autumn 2007
