21 The Proposed UNCITRAL Convention on International Bills of Exchange and International Promissory Notes

Abstract

In 1968, at its first session, the United National Commission on International Trade Law (UNCITRAL) decided to make one of its priority projects the harmonization and unification of the law of international payments and, in particular, the law of negotiable instruments. In 1987, UNCITRAL formally adopted a final draft of its proposed Convention on International Bills of Exchange and International Promissory Notes* (hereinafter referred to as the “Convention”).1