International Institute for the Unification of Private Law

• Recently, India’s Uma Sekhar was elected to the governing council of the International Institute for the Unification of Private Law (UNIDROIT) within the first round at the elections held in Rome.

ABOUT INTERNATIONAL INSTITUTE FOR THE UNIFICATION OF PRIVATE LAW (UNIDROIT)

• UNIDROIT, the International Institute for the Unification of Private Law, functions as an independent intergovernmental organization.
• Set up in 1926 as an auxiliary organ of the League of Nations, the Institute was, following the demise of the League, re-established in 1940 on the basis of a multilateral agreement, the UNIDROIT Statute.
• UNIDROIT’s 65 Member States are drawn from the five continents and represent a variety of different legal, economic and political systems as well as different cultural backgrounds.
  • India has been a member of this organization since 1950.
• Headquarters- Rome, Italy
• Its core mission involves studying the needs and methods for modernizing, harmonizing, and coordinating private and commercial law among States and groups of States.
• UNIDROIT actively formulates uniform law instruments, principles, and rules to achieve these objectives.
• UNIDROIT has an essentially three-tiered structure, made up of a Secretariat, a Governing Council and a General Assembly.
• The Governing Council consists of 25 positions which are held by distinguished legal experts.
• The official languages are English, French, German, Italian and Spanish; its working languages are English and French.
• Funding
  • The Institute is financed by annual contributions from its Member States which are fixed by the General Assembly.