The right of control—or simply control—is attributed to the holder of electronically-documented negotiable rights, established in or by a transferable electronic record. This right appears in UNCITRAL 2008 (Rotterdam Rules), which are not yet in force but are used in international maritime trade. Both the right of control and the controlling party are regulated in Chapter 10 of the Rules (Articles 50 to 56). UNCITRAL expands this concept in its 2017 Model Law on Electronic Transferable Records, particularly in Article 11, dedicated to the “Control” of the electronic record. The unifying standard applies the principle of functional equivalence between the electronic and paper documents, concerning possession and the circulation of the right via transfer of the electronic document through control. This principle means that the electronic record is functionally equivalent to the paper record. It evolves the principle of movable goods circulation, where possession equals title. The new right reformulates this: control equals possession; thus, the transmission of electronic documentary control equals the transmission of the effective possession of the paper document. The new right emerges, replicated in supranational norms and even in some national legal systems, particularly in the USA's Uniform Commercial Code (UCC).