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1 UNCITRAL Legal Guide on International Countertrade Transactions 1 (1992)

handle is hein.unl/lgict0001 and id is 1 raw text is: Introduction A. Origin and purpose of the Legal Guide 1. This Legal Guide was prepared by the United Nations Commission on Inter- national Trade Law (UNCITRAL) and by its Working Group on International Payments. In addition to representatives of member States of the Commission, rep- resentatives of many other States and of a number of international organizations participated actively in the preparatory work. 2. The Commission considered possible work to be undertaken in the area of countertrade in 1986, in the context of the discussion of the Commission's work in the field of the new international economic order.' In 1989 the Commission decided to prepare a legal guide on international countertrade transactions and requested the Secretariat to prepare draft chapters of such a guide.2 The draft chapters were dis- cussed at the twenty-third session of the Commission, in 1990,1 and at the twenty- third session of the Working Group on International Payments, in 1991.4 Michael Joachim Bonell of Italy served as chairman of the sessions of the Commission and the Working Group devoted to the drafting of the Legal Guide. The Commission reviewed the revised draft chapters and approved the Legal Guide at its twenty-fifth session (New York, 4-22 May 1992), subject to editorial modifications left to the Secretariat.' In approving the Legal Guide, the Commission adopted the following decision: The United Nations Commission on International Trade Law, Recalling its mandate under General Assembly resolution 2205 (XXI) of 17 December 1966 to further the progressive harmonization and unification of the law of international trade, and in that respect to bear in mind the interests of all peoples, and in particular those of developing countries, in the extensive develop- ment of international trade, 'Report of the United Nations Commission on International Trade Law on the work of its nineteenth session, Official Records of the General Assembly, Forty-first Session, Supplement No. 17 (A/41/17), paras. 235-243. 2Report of the United Nations Commission on International Trade Law on the work of its twenty- second session, Official Records of the General Assembly, Forty-fourth Session, Supplement No. 17 (Al 44/17), para. 249. 3Report of the United Nations Commission on International Trade Law on the work of its twenty-third session, Official Records of the General Assembly, Forty-fifth Session, Supplement No. 17 (A/45/17), paras. 11-18 and annex I. 4Report of the Working Group on International Payments on the work of its twenty-third session (A/ CN.9/357). 'Report of the United Nations Commission on International Trade Law on the work of its twenty-fifth session, Official Records of the General Assembly, Forty-seventh Session, Supplement No. 17 (A/47/17), paras. 137 and 138.

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