UN TRADE BODY TO REVIEW LEGISLATIVE GUIDE FOR PRIVATELY FINANCED INFRASTRUCTURE PROJECTS AT VIENNA MEETING
Press Release
L/2925
UN TRADE BODY TO REVIEW LEGISLATIVE GUIDE FOR PRIVATELY FINANCED INFRASTRUCTURE PROJECTS AT VIENNA MEETING
19990512 (Reissued as received.)VIENNA, 12 May (UN Information Service) -- The draft of a new legislative guide on privately financed infrastructure projects will be the major focus of a Vienna meeting from 17 May to 4 June, which will bring together delegates from 36 member countries of the United Nations trade law body as well as several observer nations and international organizations.
Key topics to be reviewed for the guide by the Vienna-based United Nations Commission on International Trade Law (UNCITRAL) will include government contract management and support for privately financed infrastructure projects as well as ways of selecting participating companies, core terms of project agreements, legal issues of constructing, operating and regulating infrastructure, duration of projects as well as extending or ending them, governing law and settling disputes.
The legislative guide aims to help governments and legal bodies at the national, provincial or local level review the adequacy of laws, regulations, decrees and other legal texts for carrying out privately financed infrastructure projects.
At its upcoming session, UNCITRAL will also consider steps taken by its working groups to develop uniform rules for electronic signatures and prepare a convention on the assignment in receivables financing -- the use of credits as collateral for bank financing. The Commission will also discuss proposals for future work in international commercial arbitration and insolvency law.
The UNCITRAL brings together representatives of the world's geographical regions and its principal economic and legal systems to work out global agreements and model laws designed to ease world trade by harmonizing international law. In addition to Member States, non-member countries as well as interested international organizations are invited to attend its meetings and contribute to discussions.
- 2 - Press Release L/2925 12 May 1999
Over the past 32 years, UNCITRAL has developed landmark legal texts, such as the United Nations Sales Convention, the UNCITRAL Model Law on International Commercial Arbitration and the UNCITRAL Arbitration Rules. UNCITRAL has become the core legal body of the United Nations system for international trade law.
The UNCITRAL currently consists of the following Member States: Algeria, Australia, Austria, Botswana, Brazil, Bulgaria, Burkina Faso, Cameroon, China, Colombia, Egypt, Fiji, Finland, France, Germany, Honduras, Hungary, India, Iran, Italy, Japan, Kenya, Lithuania, Mexico, Nigeria, Paraguay, Romania, Russian Federation, Singapore, Spain, Sudan, Thailand, Uganda, United Kingdom, United States and Uruguay.
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