Recognizing the value of arbitration as a method of settling disputes arising in international commercial relations, Convinced that the establishment of a model law on arbitration that is acceptable to States with different legal, social and economic systems contributes to the development of harmonious international economic relations,
This Convention applies to an international bill of exchange when it contains the heading "International bill of exchange (UNCITRAL Convention)" and also contains in its text the words "International bill of exchange (UNCITRAL Convention)".
These Rules apply to conciliation of disputes arising out of or relating to a contractual or other legal relationship where the parties seeking an amicable settlement of their dispute have agreed that the UNCITRAL Conciliation Rules apply.
UNCITRAL legislative texts, such as conventions, model laws, and legislative guides, may be adopted by States through the enactment of domestic legislation. UNCITRAL non-legislative texts, such as the UNCITRAL Arbitration Rules, can be used by parties to international trade contracts.