Principle 10 defines the concept of custody for the purposes of these Unidroit Principles. To do so, it defines the subjective elements, namely: custodian, sub-custodian and client; as well as the fundamental objective element, which is the custody agreement. The custody service is configured on the basis of the following elements: the custodian must provide its service in the ordinary course of its business and have control of the digital asset, which it must keep and manage for the benefit of the client following the latter's instructions. Furthermore, the client's digital asset does not form part of the custodian's assets nor can it be affected by the custodian's insolvency situation. The Commentary on Principle 10 documents examples of custody covered and not covered by said Principle.

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Principle 10 Custody

  • Agustín Madrid-Parra

摘要

Principle 10 defines the concept of custody for the purposes of these Unidroit Principles. To do so, it defines the subjective elements, namely: custodian, sub-custodian and client; as well as the fundamental objective element, which is the custody agreement. The custody service is configured on the basis of the following elements: the custodian must provide its service in the ordinary course of its business and have control of the digital asset, which it must keep and manage for the benefit of the client following the latter's instructions. Furthermore, the client's digital asset does not form part of the custodian's assets nor can it be affected by the custodian's insolvency situation. The Commentary on Principle 10 documents examples of custody covered and not covered by said Principle.