Wednesday, June 29, 2011

44th Session Of United Nation Commission On International Trade Law (UNCITRAL) In Vienna

United Nations Commission on International Trade Law (UNCITRAL) is currently holding its 44th Session from 27 June to 8 July 2011. It would discuss many important aspects having a direct bearing upon International issues.

This is a very important Session as it is covering many crucial issues that have Trans Border implications. Further, UNCITRAL is also acting as a “Harmonisation Platform” where International Norms and Regulations are formulated for wider international adoption. Among other issues, the finalisation and adoption of draft texts on procurement and insolvency will be key topics for consideration.

The revised text of the UNCITRAL Model Law on Public Procurement, to be considered by the Commission, extends the application of the Model Law to all public procurement, streamlines and strengthens provisions in a number of areas, in particular on remedies and enforcement, and includes new provisions, such as on e-procurement, abnormally low submissions, conflicts of interest, electronic reverse auctions and framework agreements.

The revisions are aimed at assisting States in formulating modern procurement laws where none presently exist or modernising and enhancing their existing procurement law. While developing countries and States whose economies are in transition may find the text of particular benefit, its provisions are intended to be applicable to all States.

Further, another important issue that would be discussed at this Session pertains to finalisation and adoption of judicial materials on the UNCITRAL Model Law on Cross-Border Insolvency. If agreed by the Commission, it is expected that the updating would be undertaken by the Secretariat in consultation with judges and, as appropriate, other insolvency experts.

In the area of technical assistance, the UNCITRAL Secretariat will also inform the Commission of recent developments with regard to the potential establishment of UNCITRAL regional centres and activities to be undertaken by such centres.

The agenda for the meeting also includes reports from working groups, including progress reports on the preparation of texts on transparency in treaty-based investor-State arbitration, online dispute resolution for cross-border electronic commerce transactions and registration of security rights in movable assets.

The coordination of UNCITRAL's work with that of other international organisations active in the field of international trade law, its role in promoting the rule of law, its possible endorsement of the revision of the ICC Uniform Rules for Demand Guarantees and its potential future work are also scheduled for discussion. This is an important session and its outcomes would be very relevant for numerous aspects of International Trade and Dispute Resolution.