Q. Consider the following statements with reference to the United Nations Commission on International Trade Law (UNCITRAL):
1.It is the principal legal body of the United Nations responsible for harmonizing and modernizing international trade law by developing model laws.
2.It is headquartered in Geneva.
Which of the statements given above is/are correct?
Answer: A
Notes:
Explanation: 1 only
Statement 1 is correct: The United Nations Commission on International Trade Law (UNCITRAL) was established by the UN General Assembly in 1966. It is the core legal body of the UN in the field of international trade law and promotes the harmonization and modernization of trade laws through model laws, conventions, legislative guides, and technical assistance.
Statement 2 is incorrect: Its secretariat is located in Vienna, Austria (with an office in New York), while international commercial disputes are decided by arbitral tribunals or courts, sometimes using UNCITRAL Arbitration Rules.
Source: DD News
