EXTRAIT - Since I first became involved with the activities of UNCITRAL’s Working Group VI, I have speculated several times in print about the multiple dimensions of transnational secured transactions reform, and about the role of different policy instruments in achieving legal modernization and harmonization. 2 I do not propose to review those speculations here. Rather, I mean to focus on two specific questions: should UNCITRAL now undertake a project to transform the recommendations of the Legislative Guide into a Model Law of the type implied by the second usage reported by the OED, namely a template? and if so, how should it pursue that objective?