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    UNIS/L/189
    31 July 2013

    UN Commission on International Trade Law Concludes 46 th Session in Vienna

    VIENNA, 31 July (UN Information Service) - During its 46th annual session, the United Nations Commission on International Trade Law (UNCITRAL) adopted texts on arbitration, security interests, cross-border insolvency, and public procurement and initiated work to support micro, small and medium-sized enterprises. The session included a panel discussion by experts on the important role of UNCITRAL in promoting the rule of law and the peaceful settlement of international disputes.

    Finalization and adoption of texts

    During the session, the Commission adopted the following texts: the UNCITRAL Rules on Transparency in Treaty-based Investor-State Arbitration (the "Transparency Rules") and the related revision of the UNCITRAL Arbitration Rules; the UNCITRAL Guide on the Implementation of a Security Rights Registry; guidance on procurement regulations to be promulgated in accordance with the UNCITRAL Model Law on Public Procurement and a glossary of procurement-related terms used in that model law; revisions to the Guide to Enactment of the UNCITRAL Model Law on Cross-Border Insolvency and part four of the UNCITRAL Legislative Guide on Insolvency Law. In addition, the Commission noted the updating of the UNCITRAL Model Law on Cross-Border Insolvency: the Judicial Perspective.

    Future work

    The Commission decided that new work on international trade law aimed at reducing legal obstacles faced by micro, small and medium-sized enterprises ("MSMEs") should be undertaken by a working group. The Commission confirmed that other working groups should continue with mandated activities. In the field of arbitration, there will be work on a convention related to the application of the Transparency Rules to the settlement of disputes arising under existing investment treaties. Current work developing a model law on secured transactions, a legislative text on electronic transferable records, and procedural rules for online dispute resolution for cross-border electronic commerce transactions will also continue.

    The Commission also decided that the UNCITRAL Secretariat should hold several colloquia. It requested one or more colloquia on the topic of public-private partnerships. With respect to insolvency law, a colloquium will be held to consider how best to proceed with work on the issue of "centre of main interests" in the context of the insolvency of enterprise groups and to investigate possible topics for future work, including issues related to the insolvency of MSMEs. The suitability of the UNCITRAL Legislative Guide on Insolvency Law to address MSME insolvency is to be the subject of preliminary consideration by Working Group V at its Spring 2014 session. Finally, the Commission decided that a colloquium should be held after its 47th session in 2014 to celebrate the 35th anniversary of the United Nations Convention on Contracts for the International Sale of Goods.

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    The United Nations Commission on International Trade Law (UNCITRAL) is the core legal body of the United Nations system in the field of international trade law. Its mandate is to remove legal obstacles to international trade by progressively modernizing and harmonizing trade law. It prepares legal texts in a number of key areas such as international commercial dispute settlement, electronic commerce, insolvency, international payments, sale of goods, transport law, procurement and infrastructure development. UNCITRAL also provides technical assistance to law reform activities, including assisting Member States to review and assess their law reform needs and to draft the legislation required to implement UNCITRAL texts. The UNCITRAL Secretariat is located in Vienna, Austria.

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    For information contact:

    Timothy Lemay
    Principal Legal Officer
    UNCITRAL Secretariat
    Email: timothy.lemay[at]uncitral.org