What are the key points of agreement and difference? iii) Comment on where the current Chinese rules for domestic transfers (as described by Wen in Note 40) fit in relation to these sets of rules.

As Wen (2007) points out, this lack of uniformity creates difficulties for senders and receivers of international transfers and their banks. In addition, for nations newly developing their legal rules in this regard (such as China), the lack of uniformity makes it difficult to decide which model of law to emulate. i) List as simply as possible the legal rules for electronic international transfers of funds in the UK and US systems and the UNCITRAL Model Law.

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