What does UNCITRAL mean by the “harmonization” and “unification” of the law of international trade?
“Harmonization” and “unification” of the law of international trade refers to the process through which the law facilitating international commerce is created and adopted. International commerce may be hindered by factors such as the lack of a predictable governing law or out-of-date laws unsuited to commercial practice. The United Nations Commission on International Trade Law identifies such problems and then carefully crafts solutions which are acceptable to States having different legal systems and levels of economic and social development. “Harmonization” may conceptually be thought of as the process through which domestic laws may be modified to enhance predictability in cross-border commercial transactions. “Unification” may be seen as the adoption by States of a common legal standard governing particular aspects of international business transactions. A model law or a legislative guide is an example of a text which is drafted to harmonize domestic law, while a convention is an i
