International Unification of Trade Laws

Abstract

This Chapter is devoted to a discussion of the harmonization of trade laws which is a central issue in international trade. It examines, first, the desirability of international harmonization of substantive, domestic laws on international trade; secondly, the concept and the various means of harmonization or unification encompassing both—the legislative and non-legislative means like the international conventions, model laws, legislative guides, uniform rules of practice, codification and restatements of general principles; finally, the efforts directed toward achieving harmonization of trade laws at international level by states, international organizations like United Nations Commission on International Trade Laws (UNCITRAL), and International Institute for the Unification of Private Law (UNIDROIT); professional bodies and trade associations like International Chamber of Commerce (ICC).