The provisional approval of the draft revised Notes on Organizing Arbitral Proceedings and parts of a model law on secured transactions were among key achievements during the United Nations Commission on International Trade Law’s (UNCITRAL) forty-eighth session held in Vienna from 29 June to 16 July

The revised Notes on Organizing Arbitral Proceedings, which had originally been designed to assist arbitration practitioners, aimed to be finalized and ready for adoption by the Commission at its next session, in 2016. In addition, the draft Model Law’s provisions dealing with the registration of security interests notices would provide urgently needed assistance to States that were seeking to modernize their secured transactions legislation. Once those provisions were approved, the Commission would then take up the matter of the whole draft Model Law at its next session in 2016.

For more information, please visit: http://www.un.org/press/en/2015/gal3501.doc.htm