Topics Covered: Important International institutions, agencies and fora, their structure, mandate.
UN Commission on International Trade Law (UNCITRAL)
What to study?
For Prelims and Mains: UNCITRAL- objectives and functions.
Context: An International Arbitration Tribunal has dismissed all claims brought against India in entirety.
What’s the issue?
The arbitration arose out of the cancellation of Letters of Intent for the issuance of telecom licences to provide 2G services in five telecommunications circles by reason of India’s essential security interests.
- The verdict was pronounced last year in July 2019 by the International Arbitration Tribunal constituted in accordance with the United Nations Commission on International Trade Law (UNCITRAL) Arbitration Rules, 1976.
- The proceedings were administered by the Permanent Court of Arbitration (PCA).
- The UN Commission on International Trade Law (UNCITRAL) is a subsidiary body of the U.N. General Assembly.
- It is responsible for helping to facilitate international trade and investment.
- Established by the UNGA in 1966.
- Mandate is “to promote the progressive harmonization and unification of international trade law” through conventions, model laws, and other instruments that address key areas of commerce, from dispute resolution to the procurement and sale of goods.
- Annual sessions held alternately in New York City and Vienna, where it is headquartered.
- The Tribunal constituted in accordance with the UNCITRAL Arbitration Rules 1976 is seated at the Hague, Netherlands, and proceedings are administered by the Permanent Court of Arbitration.
Sources: the Hindu.