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ADOPTION BY INDIA OF THE UNITED NATIONS COMMISSION ON INTERNATIONAL TRADE LAW MODEL LAW OF 1985 PT.-2
Adoption by India of the United Nations Commission on International Trade Law Model Law of 1985 Pt.-2
On 21 June 1985, the Commission, after much discussion, and after considering the text at the hand of the model law as revised by the Drafting Group, decided to adopt the UNCITRAL Model Law on International Commercial Arbitration, and subsequently invited the General assembly to recommend to states that they should be considering the Model Law when they can enact or revise their laws to match the current needs of International Commercial Arbitration. On 11 December 1985, the General Assembly of the United Nations passed the following resolution :
General Assembly Resolution 40/72 A/40/53 (11 December 1985)
40/72. Model Law on International Commercial Arbitration of the United Nations Commission on International Trade Law.
The General Assembly wholly recognized the value of arbitration as a way of settling disputes which arose in international commercial relations. By being convinced of the notion that the very establishment of a Model Law on Arbitration that will be acceptable to all states with varying legal, social as well as an economic system contributes to the overall development and enhancement of a harmonious international commercial relationship and ecosystem.
Taking note of the fact that the Model Law on International Commercial Arbitration had been adopted by the United Nations Commission on International Trade Law at its eighteenth session, after incessant deliberation as well as extensive and rigorous consultation with stakeholders such as arbitral institutions and individual experts on international commercial arbitration.
By being convinced by the fact that the Model law, coupled with the Convention on the Recognition and Enforcement of Foreign Arbitral Awards and the Arbitration Rules of the United Nations Commission on International Trade Law. Which in turn had been recommended by the General Assembly in its original resolution 31/98 of 15 December 1976, significantly contributed to the establishment of a unified framework for a fair as well efficient settlement of disputes emanating in international commercial relations?
It was requested by the Secretary-General to transmit the entire text of the Model Law on International Commercial Arbitration of the United Nations Commission on International Trade Law, coupled together with the travaux preparatory from the eighteenth session of the Commission itself to governments and the arbitral institutions as well as other interested bodies, such as the chambers of commerce.
Secondly, it was recommended that all states should give due consideration to the Model Law on International Commercial Arbitration, in light of the fact that the desirability of uniformity of the law on arbitral procedures as well as the specific needs of international commercial arbitration practice respectively.
Source: The Arbitration Series Volume One- Harmony amidst Disharmony: the Indian Framework- Fali S Nariman
- Model Law
- General Assembly
- International Commercial Arbitration
