Documentary Token including negotiable instrument, warehouse receipt, bill of lading reify the obligation they represent and physical delivery of the paper document itself (sometimes coupled with transferor`s declaration of an intent to transfer, which means endorsement) to the transferee constitutes proof of the transferee`s right to enforce the obligation. The legal construct of documentary token is both creating an efficient mechanism for transferring performance rights to third parties and granting the transferee possessing paper document special rights to enforce obligation represented in spite of defences the obligor may have against a prior transferor. The most significant challenge or hinderance faced by any scheme to replace writings with electronic records is that a unique electronic record can`t be physically transferred through telecommunication. Any transmission of the record is not the physical transfer of the original and results in no certainty that the original has been destroyed. In fact, methods used to create and store electronic records render the concept of original irrelevant, therefore the assumption underlying existing rules for Documentary Tokens do not work well in electronic environment. Under such a circumstance as talked above, we need not search for the electronic token which can convey the right to enforce in vain but an electronic equivalent to documentary tokens. Not only the UETA, E-SIGN and revised Chapter 9 of UCC but also the draft of UNCITRAL Working Group Ⅳ focused on that concept - electronic equivalent of which the main concept is control of electronic transferable record. And instead of orignal, the authoritative copy meeting certain criteria (unique, identifiable, unalterable) provides a way to identify the person in control of the electronic transferable record. We already have some electronic transferable records in our legal system such as electronic promissory note, electronic bill of lading and electronic prepayment means. But from the prospective of UNCITRAL draft and UETA and E-SIGN, there are defects in those legislation concerning electronic transferable records in our legal system, therefore it`s necessary to amend and improve such acts in reference to discussion and results of UNCITRAL and other legislations.