Uncitral Arbitration Rules Sample Clauses

Uncitral Arbitration Rules. The United Nations Commission on the International Trade Law (UNCITRAL) became operational by the resolution of the United Nations General Assembly on 17 December, 1966 designed to harmonize and unify the law of international trade. Amongst the objectives of UNCITRAL is the promotion of the New York Convention. This objective led the commission to provide for steps to be adopted in ad-hoc arbitrations. Their Arbitration Rules were adopted by the Commission on 28th April 1976 and approved by the General Assembly unanimously on 15th December 1976.26 The rules in the First Schedule to the Arbitration and Mediation Act, which are for both domestic and international commercial arbitration, are to a large extent of the UNCITRAL Arbitration Rules. Parties to an international commercial agreement may expressly agree that any dispute arising out of their contract or agreement shall be referred to arbitration in accordance with the Arbitration Rules set out in the First Schedule to the Arbitration and Mediation Act, or