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UNIDROIT - How it contributed to international trade harmonization

Author: Andreas Giese

Publisher: GRIN Verlag

Published: 2012-07-05

Total Pages: 27

ISBN-13: 3656997659

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Research Paper (undergraduate) from the year 2007 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1.7, , language: English, abstract: Today international trade is still a both difficult and complex matter. One does not even have to be a businessperson anymore to realize that. In this age everyone can browse the internet and with just a few clicks have almost everything delivered right to one?s doorstep from all around the world. Due to this simplicity it is often overlooked that ordering goods from the other side of the globe or even just a few steps beyond the closest border involves many differences and problems that need to be taken care of. But while a small order from a private person causes enough trouble, still far more legal issues arise from trade from businesses to business (B2B) contracts over borders. The reason for this is that every state has its own laws, rules and customs and it needs to be clarified which is to be prioritized and obeyed. As the cross-border trade has grown dramatically during the last decades, it therefore has become essential that organizations fight for unifying the laws and regulations for international trade against. One of the most famous and most important institutions is the International Institute for the Unification of Private Law or UNIDROIT. Its main tasks consist of harmonizing and coordinating international private law. Currently (July 8, 2007) the organization has 61 members, including the majority of the leading industrial nations like the United States, Germany, India and China. In the following paper I am going to analyze and explain the UNIDROIT and its achievements in detail. Therefore I am going to start with a brief summary of its history and evolvement since its foundation. After this I will concentrate on the goals and objectives the organization has been founded upon. Then I will concentrate on the structure and working principles of it, followed by UNIDROITS certainly most important achievements concerning what they say and what importance they have. Before ending with a brief conclusion of what has been discussed, I will also come to setbacks in the organizations history and structure.

Book Synopsis UNIDROIT - How it contributed to international trade harmonization by : Andreas Giese

Download or read book UNIDROIT - How it contributed to international trade harmonization written by Andreas Giese and published by GRIN Verlag. This book was released on 2012-07-05 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2007 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1.7, , language: English, abstract: Today international trade is still a both difficult and complex matter. One does not even have to be a businessperson anymore to realize that. In this age everyone can browse the internet and with just a few clicks have almost everything delivered right to one?s doorstep from all around the world. Due to this simplicity it is often overlooked that ordering goods from the other side of the globe or even just a few steps beyond the closest border involves many differences and problems that need to be taken care of. But while a small order from a private person causes enough trouble, still far more legal issues arise from trade from businesses to business (B2B) contracts over borders. The reason for this is that every state has its own laws, rules and customs and it needs to be clarified which is to be prioritized and obeyed. As the cross-border trade has grown dramatically during the last decades, it therefore has become essential that organizations fight for unifying the laws and regulations for international trade against. One of the most famous and most important institutions is the International Institute for the Unification of Private Law or UNIDROIT. Its main tasks consist of harmonizing and coordinating international private law. Currently (July 8, 2007) the organization has 61 members, including the majority of the leading industrial nations like the United States, Germany, India and China. In the following paper I am going to analyze and explain the UNIDROIT and its achievements in detail. Therefore I am going to start with a brief summary of its history and evolvement since its foundation. After this I will concentrate on the goals and objectives the organization has been founded upon. Then I will concentrate on the structure and working principles of it, followed by UNIDROITS certainly most important achievements concerning what they say and what importance they have. Before ending with a brief conclusion of what has been discussed, I will also come to setbacks in the organizations history and structure.

An International Restatement of Contract Law: The UNIDROIT Principles of International Commercial Contracts

Author: Michael Joachim Bonell

Publisher: Martinus Nijhoff Publishers

Published: 2009-03-27

Total Pages: 706

ISBN-13: 900419469X

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The Unidroit Principles of International Contracts, first published in 1994, have met with extraordinary success in the legal and business community worldwide. Prepared by a group of eminent experts from all major legal systems of the world, they provide a comprehensive set of rules for international commercial contracts. This new edition of An International Restatement of Contract Law is the first comprehensive introduction to the Unidroit Principles 2004. In addition, it provides an extensive survey and analysis of the actual use of the Unidroit Principles in practice with special emphasis on the different ways in which they have been interpreted and applied by the courts and arbitral tribunals in the hundred or so cases reported worldwide. The book also contains the full text of the Preamble and the 180 articles of the Unidroit Principles 2004 in Chinese, English, French, German, Italian and Russian as well as the 1994 edition in Spanish.

Book Synopsis An International Restatement of Contract Law: The UNIDROIT Principles of International Commercial Contracts by : Michael Joachim Bonell

Download or read book An International Restatement of Contract Law: The UNIDROIT Principles of International Commercial Contracts written by Michael Joachim Bonell and published by Martinus Nijhoff Publishers. This book was released on 2009-03-27 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Unidroit Principles of International Contracts, first published in 1994, have met with extraordinary success in the legal and business community worldwide. Prepared by a group of eminent experts from all major legal systems of the world, they provide a comprehensive set of rules for international commercial contracts. This new edition of An International Restatement of Contract Law is the first comprehensive introduction to the Unidroit Principles 2004. In addition, it provides an extensive survey and analysis of the actual use of the Unidroit Principles in practice with special emphasis on the different ways in which they have been interpreted and applied by the courts and arbitral tribunals in the hundred or so cases reported worldwide. The book also contains the full text of the Preamble and the 180 articles of the Unidroit Principles 2004 in Chinese, English, French, German, Italian and Russian as well as the 1994 edition in Spanish.

Unidroit Convention on International Factoring

Author: Stationery Office, The

Publisher:

Published: 1991-01-01

Total Pages: 7

ISBN-13: 9780101148726

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Book Synopsis Unidroit Convention on International Factoring by : Stationery Office, The

Download or read book Unidroit Convention on International Factoring written by Stationery Office, The and published by . This book was released on 1991-01-01 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Modern Law of International Trade

Author: Ajendra Srivastava

Publisher: Springer Nature

Published: 2020-08-31

Total Pages: 334

ISBN-13: 9811554757

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This book presents a comprehensive and systematic study of the principal aspects of the modern law of international commercial transactions. Based on diverse sources, including legislative texts, case law, international conventions, and a variety of soft-law instruments, it highlights key topics such as the international sale of goods, international transport, marine insurance, international finance and payments, electronic commerce, international commercial arbitration, standard trade terms, and international harmonization of trade laws. In focusing on the private law aspects of international trade, the book closely analyzes the relevant statutes, case law and the European Union (EU) and international uniform law instruments like the Rome I Regulation, the UN Convention on the Contracts for the International Sale of Goods (CISG), UNCITRAL Model Laws; non-legislative instruments including restatements such as the UNIDROIT Principles on International Commercial Contracts, and rules of business practices codified by the ICC such as the Arbitration Rules, UCP 600 and different versions of the INCOTERMS. The book clearly explains the key concepts and nuances of the subject, offering incisive and vivid analyses of the major issues and developments. It also traces the evolution of the law of international trade and explores the connection between the lex mercatoria and the modern law. Comprehensively examining the issue of international harmonization of trade laws from a variety of perspectives, it provides a detailed account of the work of major players in the field, including UNCITRAL, UNIDROIT, ICC, and the Hague Conference on Private International Law (HCCH). Adopting the comparative law method, this book offers a critical analysis of the laws of two key jurisdictions—India and England—in the context of export trade. In order to stimulate discussion on law reform, it explains the similarities and differences not only between laws of the two countries, but also between the laws of India and England on the one hand, and the uniform law instruments on the other. Given its breadth of coverage, this book is a valuable reference resource not only for students in the fields of law, international trade, and commercial law, but also for researchers, practitioners and policymakers.

Book Synopsis Modern Law of International Trade by : Ajendra Srivastava

Download or read book Modern Law of International Trade written by Ajendra Srivastava and published by Springer Nature. This book was released on 2020-08-31 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a comprehensive and systematic study of the principal aspects of the modern law of international commercial transactions. Based on diverse sources, including legislative texts, case law, international conventions, and a variety of soft-law instruments, it highlights key topics such as the international sale of goods, international transport, marine insurance, international finance and payments, electronic commerce, international commercial arbitration, standard trade terms, and international harmonization of trade laws. In focusing on the private law aspects of international trade, the book closely analyzes the relevant statutes, case law and the European Union (EU) and international uniform law instruments like the Rome I Regulation, the UN Convention on the Contracts for the International Sale of Goods (CISG), UNCITRAL Model Laws; non-legislative instruments including restatements such as the UNIDROIT Principles on International Commercial Contracts, and rules of business practices codified by the ICC such as the Arbitration Rules, UCP 600 and different versions of the INCOTERMS. The book clearly explains the key concepts and nuances of the subject, offering incisive and vivid analyses of the major issues and developments. It also traces the evolution of the law of international trade and explores the connection between the lex mercatoria and the modern law. Comprehensively examining the issue of international harmonization of trade laws from a variety of perspectives, it provides a detailed account of the work of major players in the field, including UNCITRAL, UNIDROIT, ICC, and the Hague Conference on Private International Law (HCCH). Adopting the comparative law method, this book offers a critical analysis of the laws of two key jurisdictions—India and England—in the context of export trade. In order to stimulate discussion on law reform, it explains the similarities and differences not only between laws of the two countries, but also between the laws of India and England on the one hand, and the uniform law instruments on the other. Given its breadth of coverage, this book is a valuable reference resource not only for students in the fields of law, international trade, and commercial law, but also for researchers, practitioners and policymakers.

Legal Guide on Contract Farming

Author: Food and Agriculture Organization of the United Nations

Publisher: Food & Agriculture Org.

Published: 2018-06-26

Total Pages: 258

ISBN-13: 8886449305

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Contract farming, broadly understood as agricultural production and marketing carried out under a previous agreement between producers and their buyers, supports the production of a wide range of agricultural commodities and its use is growing in many countries. Mindful of the importance of enhancing knowledge and awareness of the legal regime applicable to contract farming operations, the International Institute for the Unification of Private Law (UNIDROIT), the Food and Agriculture Organizatio n of the United Nations (FAO) and the International Fund for Agricultural Development (IFAD) have prepared this UNIDROIT/FAO/IFAD Legal Guide on Contract Farming. The Guide is a useful tool and reference point for a broad range of users involved in contract farming practice, policy design, legal research and capacity building. It can contribute as well to create a favourable, equitable and sustainable environment for contract farming.

Book Synopsis Legal Guide on Contract Farming by : Food and Agriculture Organization of the United Nations

Download or read book Legal Guide on Contract Farming written by Food and Agriculture Organization of the United Nations and published by Food & Agriculture Org.. This book was released on 2018-06-26 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contract farming, broadly understood as agricultural production and marketing carried out under a previous agreement between producers and their buyers, supports the production of a wide range of agricultural commodities and its use is growing in many countries. Mindful of the importance of enhancing knowledge and awareness of the legal regime applicable to contract farming operations, the International Institute for the Unification of Private Law (UNIDROIT), the Food and Agriculture Organizatio n of the United Nations (FAO) and the International Fund for Agricultural Development (IFAD) have prepared this UNIDROIT/FAO/IFAD Legal Guide on Contract Farming. The Guide is a useful tool and reference point for a broad range of users involved in contract farming practice, policy design, legal research and capacity building. It can contribute as well to create a favourable, equitable and sustainable environment for contract farming.

UNIDROIT Principles of International Commercial Contracts. An Article-by-Article Commentary

Author: Eckart Brödermann

Publisher: Kluwer Law International B.V.

Published: 2023-05-12

Total Pages: 953

ISBN-13: 9403503475

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The Unidroit Principles of International Commercial Contracts provide an excellent and practice proven tool for cross-border contracts: They constitute a neutral and pragmatic business oriented contractual regime for cross-border contracts They contain multiple solutions to typical contractual questions regarding the life of a contract, often by way of a compromise between civil and common law They have been referenced in hundreds of decisions of arbitral tribunals or national state courts They have been endorsed inter alia by the United Nations Commission on International Trade Law (last in 2021) and the Union Internationale des Avocats (2020) bringing together through its bar association and individual members approximately two million lawyers in more than 110 countries. Thirty years after their first publication, it is arguably malpractice to ignore them. In this fully revised and enlarged 2nd edition, the commentary continues to analyse the Unidroit Principles article by article from a practical perspective, while always discussing alternative courses of action, where they apply. The commentary includes proposals for choice of the Unidroit Principles’ clauses and practical guidance for their use as template, or to supplement the CISG or national law. In addition to arbitral and state court decisions and recent literature, the 2nd edition includes an in-depth analysis of extensive legislative material. The author is a German practitioner with international training and familiarity with both common and civil law. He has been admitted to the New York Bar and also teaches at the University of Hamburg as a Professor of Law. The author is using the Unidroit Principles for more than 20 years in his commercial and arbitration practice, in recent years on a daily basis in multiple industries. As he shares his experience under the Unidroit Principles, the commentary can also be used as a practical guide and checklist of issues to consider in international contracting. Die Unidroit Principles of International Commercial Contracts sind das ideale Instrument für grenzüberschreitende Verträge: sie bilden ein neutrales, pragmatisches und wirtschaftsorientiertes Regime für grenzüberschreitende Verträge sie enthalten zahlreiche praxisnahe Lösungen für übliche Vertragsfragen und versöhnen dabei Civil Law und Common Law Unidroit Principles werden in zahlreichen Entscheidungen von Schiedsgerichten oder nationalen Gerichten zitiert u.a. befürwortet von der Kommission der Vereinten Nationen für internationales Handelsrecht (zuletzt 2021) und der Union Internationale des Avocats (2020), die über ihre Anwaltskammern und Einzelmitglieder rund zwei Millionen Anwälte in mehr als 110 Ländern vereinen. Nach dreißig Jahren Anwendung in der Praxis kann es sich rächen, die Unidroit Principles zu ignorieren! Die vollständig überarbeiteten und erweiterte 2. Auflage des Kommentars analysiert weiterhin die Unidroit Principles, Artikel für Artikel, aus Sicht des Praktikers. Alternative Handlungsmöglichkeiten werden dort erörtert, wo sie sinnvoll und anwendbar sind. Der Kommentar enthält Vorschläge für die Wahl der Klauseln der Unidroit Principles und praktische Anleitungen für deren Verwendung, auch als Vorlage oder zur Ergänzung des CISG oder des nationalen Rechts. Neben Schiedsgerichts- und staatlichen Gerichtsentscheidungen sowie aktueller Literatur enthält die 2. Auflage eine eingehende Analyse des umfangreichen Gesetzesmaterials. Als deutscher Praktiker mit internationaler Ausbildung ist der Autor mit dem Common Law und dem Civil Law bestens vertraut. Er ist als Rechtsanwalt in New York zugelassen und lehrt als Professor für Rechtswissenschaften an der Universität Hamburg. Der Autor wendet die Unidroit Principles seit 20 Jahren in seiner täglichen Handels- und Schiedsgerichtspraxis an. Aufgrund zahlreicher Berichterstattung aus der Praxis bietet der Kommentar zugleich ein Handbuch und Checklisten zum allgemeinen Schuldrecht in grenzübergreifenden Fällen.

Book Synopsis UNIDROIT Principles of International Commercial Contracts. An Article-by-Article Commentary by : Eckart Brödermann

Download or read book UNIDROIT Principles of International Commercial Contracts. An Article-by-Article Commentary written by Eckart Brödermann and published by Kluwer Law International B.V.. This book was released on 2023-05-12 with total page 953 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Unidroit Principles of International Commercial Contracts provide an excellent and practice proven tool for cross-border contracts: They constitute a neutral and pragmatic business oriented contractual regime for cross-border contracts They contain multiple solutions to typical contractual questions regarding the life of a contract, often by way of a compromise between civil and common law They have been referenced in hundreds of decisions of arbitral tribunals or national state courts They have been endorsed inter alia by the United Nations Commission on International Trade Law (last in 2021) and the Union Internationale des Avocats (2020) bringing together through its bar association and individual members approximately two million lawyers in more than 110 countries. Thirty years after their first publication, it is arguably malpractice to ignore them. In this fully revised and enlarged 2nd edition, the commentary continues to analyse the Unidroit Principles article by article from a practical perspective, while always discussing alternative courses of action, where they apply. The commentary includes proposals for choice of the Unidroit Principles’ clauses and practical guidance for their use as template, or to supplement the CISG or national law. In addition to arbitral and state court decisions and recent literature, the 2nd edition includes an in-depth analysis of extensive legislative material. The author is a German practitioner with international training and familiarity with both common and civil law. He has been admitted to the New York Bar and also teaches at the University of Hamburg as a Professor of Law. The author is using the Unidroit Principles for more than 20 years in his commercial and arbitration practice, in recent years on a daily basis in multiple industries. As he shares his experience under the Unidroit Principles, the commentary can also be used as a practical guide and checklist of issues to consider in international contracting. Die Unidroit Principles of International Commercial Contracts sind das ideale Instrument für grenzüberschreitende Verträge: sie bilden ein neutrales, pragmatisches und wirtschaftsorientiertes Regime für grenzüberschreitende Verträge sie enthalten zahlreiche praxisnahe Lösungen für übliche Vertragsfragen und versöhnen dabei Civil Law und Common Law Unidroit Principles werden in zahlreichen Entscheidungen von Schiedsgerichten oder nationalen Gerichten zitiert u.a. befürwortet von der Kommission der Vereinten Nationen für internationales Handelsrecht (zuletzt 2021) und der Union Internationale des Avocats (2020), die über ihre Anwaltskammern und Einzelmitglieder rund zwei Millionen Anwälte in mehr als 110 Ländern vereinen. Nach dreißig Jahren Anwendung in der Praxis kann es sich rächen, die Unidroit Principles zu ignorieren! Die vollständig überarbeiteten und erweiterte 2. Auflage des Kommentars analysiert weiterhin die Unidroit Principles, Artikel für Artikel, aus Sicht des Praktikers. Alternative Handlungsmöglichkeiten werden dort erörtert, wo sie sinnvoll und anwendbar sind. Der Kommentar enthält Vorschläge für die Wahl der Klauseln der Unidroit Principles und praktische Anleitungen für deren Verwendung, auch als Vorlage oder zur Ergänzung des CISG oder des nationalen Rechts. Neben Schiedsgerichts- und staatlichen Gerichtsentscheidungen sowie aktueller Literatur enthält die 2. Auflage eine eingehende Analyse des umfangreichen Gesetzesmaterials. Als deutscher Praktiker mit internationaler Ausbildung ist der Autor mit dem Common Law und dem Civil Law bestens vertraut. Er ist als Rechtsanwalt in New York zugelassen und lehrt als Professor für Rechtswissenschaften an der Universität Hamburg. Der Autor wendet die Unidroit Principles seit 20 Jahren in seiner täglichen Handels- und Schiedsgerichtspraxis an. Aufgrund zahlreicher Berichterstattung aus der Praxis bietet der Kommentar zugleich ein Handbuch und Checklisten zum allgemeinen Schuldrecht in grenzübergreifenden Fällen.

Transnational Commercial Law

Author: Roy Goode

Publisher: OUP Oxford

Published: 2012-03-29

Total Pages: 1810

ISBN-13: 0191632392

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Transnational commercial law represents the outcome of work undertaken to harmonize national laws affecting domestic and cross-border transactions and is upheld by a diverse spectrum of instruments. Now in its second edition, this authoritative work brings together the major instruments in this field, dividing them into thirteen groups: Treaty Law, Contracts, Electronic Commerce, International Sales, Agency and Distribution, International Credit Transfers and Bank Payment Undertakings, International Secured Transactions, Cross-Border Insolvency, Securities Custody, Clearing and Settlement and Securities Collateral, Conflict of Laws, Civil Procedure, Commercial Arbitration, and a new section on Carriage of Goods. Each group of instruments is preceded by linking text which provides important context by identifying the key instruments in each group, discussing their purposes and relationships, and explaining the major provisions of each instrument, thus setting them in their commercial context. This volume is unique in providing the full text of international conventions, including the preamble - which is important for interpretation - and the final clauses and any annexes. In addition, each instrument is accompanied by a complete list of dates of signature and ratification by all contracting states, all easily navigated through the detailed tables of contents which precedes it. This fully-indexed work provides an indispensable guide for the practitioner or academic to the primary transnational commercial law instruments.

Book Synopsis Transnational Commercial Law by : Roy Goode

Download or read book Transnational Commercial Law written by Roy Goode and published by OUP Oxford. This book was released on 2012-03-29 with total page 1810 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transnational commercial law represents the outcome of work undertaken to harmonize national laws affecting domestic and cross-border transactions and is upheld by a diverse spectrum of instruments. Now in its second edition, this authoritative work brings together the major instruments in this field, dividing them into thirteen groups: Treaty Law, Contracts, Electronic Commerce, International Sales, Agency and Distribution, International Credit Transfers and Bank Payment Undertakings, International Secured Transactions, Cross-Border Insolvency, Securities Custody, Clearing and Settlement and Securities Collateral, Conflict of Laws, Civil Procedure, Commercial Arbitration, and a new section on Carriage of Goods. Each group of instruments is preceded by linking text which provides important context by identifying the key instruments in each group, discussing their purposes and relationships, and explaining the major provisions of each instrument, thus setting them in their commercial context. This volume is unique in providing the full text of international conventions, including the preamble - which is important for interpretation - and the final clauses and any annexes. In addition, each instrument is accompanied by a complete list of dates of signature and ratification by all contracting states, all easily navigated through the detailed tables of contents which precedes it. This fully-indexed work provides an indispensable guide for the practitioner or academic to the primary transnational commercial law instruments.

Commentary on the UNIDROIT Principles of International Commercial Contracts (PICC)

Author: Stefan Vogenauer

Publisher: Oxford University Press, USA

Published: 2009

Total Pages: 1560

ISBN-13:

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This volume on the UNIDROIT principles of international commercial contracts provides quick access to all case law and legal literature for specific problems, paired with in-depth scholarly analysis.

Book Synopsis Commentary on the UNIDROIT Principles of International Commercial Contracts (PICC) by : Stefan Vogenauer

Download or read book Commentary on the UNIDROIT Principles of International Commercial Contracts (PICC) written by Stefan Vogenauer and published by Oxford University Press, USA. This book was released on 2009 with total page 1560 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume on the UNIDROIT principles of international commercial contracts provides quick access to all case law and legal literature for specific problems, paired with in-depth scholarly analysis.

Convention on International Interests in Mobile Equipment and Protocol Thereto on Matters Specific to Aircraft Equipment

Author: Royston Miles Goode

Publisher: Hart Publishing

Published: 2008

Total Pages: 0

ISBN-13: 9788886449182

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No Marketing Blurb

Book Synopsis Convention on International Interests in Mobile Equipment and Protocol Thereto on Matters Specific to Aircraft Equipment by : Royston Miles Goode

Download or read book Convention on International Interests in Mobile Equipment and Protocol Thereto on Matters Specific to Aircraft Equipment written by Royston Miles Goode and published by Hart Publishing. This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: No Marketing Blurb

Principles of Transnational Civil Procedure

Author: American Law Institute

Publisher: Cambridge University Press

Published: 2007-01-29

Total Pages: 242

ISBN-13: 9780521706148

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The ALI (American Law Institute) and UNIDROIT (the International Institute for the Unification of Private Law) are preeminent organizations working together toward the clarification and advancement of the procedural rules of law. Recognizing the need for a “universal” set of procedures that would transcend national jurisdictional rules and facilitate the resolution of disputes arising from transnational commercial transactions, Principles of Transnational Civil Procedure was launched to create a set of procedural rules and principles that would be adopted globally. This work strives to reduce uncertainty for parties that must litigate in unfamiliar surroundings and to promote fairness in judicial proceedings. As recognized standards of civil justice, Principles of Transnational Civil Procedure can be used in judicial proceedings as well as in arbitration. The result is a work that significantly contributes to the promotion of a universal rule of procedural law. The American Law Institute was organized in 1923 following a study conducted by a group of prominent American judges, lawyers, and law professors. Their recommendation that a lawyers' organization be formed to improve the law and its administration led to the creation of The American Law Institute. UNIDROIT was founded in 1926 as a specialized agency of the League of Nations. It exists as an independent intergovernmental organization on the basis of a multilateral agreement, the UNIDROIT Statute. Its purpose is to study needs and methods for modernizing, harmonizing, and coordinating private laws between states and groups of states and to prepare legislative texts for consideration by governments.

Book Synopsis Principles of Transnational Civil Procedure by : American Law Institute

Download or read book Principles of Transnational Civil Procedure written by American Law Institute and published by Cambridge University Press. This book was released on 2007-01-29 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ALI (American Law Institute) and UNIDROIT (the International Institute for the Unification of Private Law) are preeminent organizations working together toward the clarification and advancement of the procedural rules of law. Recognizing the need for a “universal” set of procedures that would transcend national jurisdictional rules and facilitate the resolution of disputes arising from transnational commercial transactions, Principles of Transnational Civil Procedure was launched to create a set of procedural rules and principles that would be adopted globally. This work strives to reduce uncertainty for parties that must litigate in unfamiliar surroundings and to promote fairness in judicial proceedings. As recognized standards of civil justice, Principles of Transnational Civil Procedure can be used in judicial proceedings as well as in arbitration. The result is a work that significantly contributes to the promotion of a universal rule of procedural law. The American Law Institute was organized in 1923 following a study conducted by a group of prominent American judges, lawyers, and law professors. Their recommendation that a lawyers' organization be formed to improve the law and its administration led to the creation of The American Law Institute. UNIDROIT was founded in 1926 as a specialized agency of the League of Nations. It exists as an independent intergovernmental organization on the basis of a multilateral agreement, the UNIDROIT Statute. Its purpose is to study needs and methods for modernizing, harmonizing, and coordinating private laws between states and groups of states and to prepare legislative texts for consideration by governments.