United nations commission on international trade law (UNCITRAL) Model law on international commercial arbitration was prepared by UNCITRAL adopted by the United nations commission on international trade law on 21st June 1985.It is the care legal body within the united nations system in the field of international trade law. In an increasing economically interdependent world,the importance of the improve legal framework for the facilitation of internationally trade.UNCITRAL co-ordinate legal activities in the field in order to avoid duplication to effort and to promote efficiency,consistency and co-herence in the unification and harmonization of international trade law. It is a major legal body of the UN system in the field of international trade law. It has got universal membership specialising in commercial law reforms world wide for over 40 years, UNCITRAL modernise and harmonise the rules on international business. United nations commission von international trade law adopted a final model on international commercial arbitration called the "Model law". It was adopted keep in mind the manifold problems encountered by contemplating on International arbitration remedy and the desirability of uniformity in the law of arbitration procedures and the specific needs of international comnercomm orbit ration practice Model law is intended to deal with international commercial arbitration and conciliation on domestic arbitration and conciliation with appropriate modifications. The aim of UNCITRAL is to reduce or eliminate the difficulties and inadequaties and disparities of national laws.
Activities of UNCITRAL :
- Co-ordination the work of active organisation and encouraging cooperation among them.
- 2. Promotion wider participation in existing international conventions and wider acceptance of uniform law.
- 3. Promoting the codification and wider acceptance of international trade terms, provisions,customs and practice and collaboration with organisation in the field.
- 4. Ensuring uniform interpretation and application of international conventions.
It is a collection of court decisions and arbitration award,include case abstract in the 6 UN languages on the UN convention on contract for the international sale of goods and UNCITRAL mode law on international commercial arbitration.
Some important laws:.
1985: Law international commercial arbitration.
1992: Law on international credit transfer.
1994: Law on procurement of goods construction and services. 1996: Law on electronic commerce .
1997: Law on cross border insoIvency. Also drafted conciliation and arbitration rules.
Model law: A global survey of national laws on arbitration revealed considerable disparities not only as regards individual provision and solutions but also in terms of development and refinement.Some laws are regarded as outdated and son other laws may be said to be fragmentary in that they do not address all relevant issues. Uncertainty about the local law with the inherent risk of frustration may adversely effect not only the functioning of the arbuarbitra process but also the place of arbitration.