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Uncitral
Uncitral
Course
Research Work (BBS 250)
173 Documents
Students shared 173 documents in this course
University
Tribhuvan Vishwavidalaya
Academic year: 2020/2021
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UNCITRAL (United Nations Commission on International Trade Law) and ICC (International Chamber of Commerce) are two distinct entities related to international trade and business, each with its own functions and purposes:
- UNCITRAL:
- UNCITRAL is a United Nations body that focuses on the harmonization and modernization of international trade law. It develops model laws, rules, and conventions to facilitate international trade and commercial transactions.
- UNCITRAL's primary goal is to promote the simplification and harmonization of international trade law and remove legal obstacles to cross-border commerce.
- It is known for the UNCITRAL Model Law on International Commercial Arbitration, which provides a framework for resolving international commercial disputes through arbitration.
- ICC (International Chamber of Commerce):
- ICC is a global business organization that fosters international trade and commerce. It is not a part of the United Nations but operates independently as a private-sector entity.
- ICC provides various services, including arbitration, dispute resolution, and the establishment of trade rules and standards, such as the widely used Incoterms (international commercial terms).
- It promotes ethical business practices and provides a platform for businesses to collaborate on international trade issues and resolve disputes through ICC Arbitration. In summary, UNCITRAL is a United Nations body primarily concerned with developing international trade laws, while ICC is a private-sector organization that serves as a global business network and offers dispute resolution services and trade rules. Both entities play essential roles in facilitating international trade, but they have distinct roles and functions.
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Uncitral
Course: Research Work (BBS 250)
173 Documents
Students shared 173 documents in this course
University: Tribhuvan Vishwavidalaya
Was this document helpful?
UNCITRAL (United Nations Commission on International Trade Law) and ICC (International Chamber of
Commerce) are two distinct entities related to international trade and business, each with its own
functions and purposes:
1. UNCITRAL:
- UNCITRAL is a United Nations body that focuses on the harmonization and modernization of
international trade law. It develops model laws, rules, and conventions to facilitate international trade
and commercial transactions.
- UNCITRAL's primary goal is to promote the simplification and harmonization of international trade
law and remove legal obstacles to cross-border commerce.
- It is known for the UNCITRAL Model Law on International Commercial Arbitration, which provides a
framework for resolving international commercial disputes through arbitration.
2. ICC (International Chamber of Commerce):
- ICC is a global business organization that fosters international trade and commerce. It is not a part of
the United Nations but operates independently as a private-sector entity.
- ICC provides various services, including arbitration, dispute resolution, and the establishment of trade
rules and standards, such as the widely used Incoterms (international commercial terms).
- It promotes ethical business practices and provides a platform for businesses to collaborate on
international trade issues and resolve disputes through ICC Arbitration.
In summary, UNCITRAL is a United Nations body primarily concerned with developing international trade
laws, while ICC is a private-sector organization that serves as a global business network and offers
dispute resolution services and trade rules. Both entities play essential roles in facilitating international
trade, but they have distinct roles and functions.
