International Institute for the Unification of Private Law (UNIDROIT)

Key Points:

• 1926: Originally formed in 1926 as part of the League of Nations
• 1940: re-established after dissolution of the League of Nations
• Headquarters: Rome
• Nature: An independent, intergovernmental organization.
• Purpose: Focuses on studying and modernizing international private and commercial law.
• Membership: Limited to states that join the UNIDROIT Statute.
• Global Representation: 65 member states from diverse legal, economic, political, and cultural backgrounds across five continents.

Why in News:

• Uma Sekhar from India was elected to UNIDROIT’s governing council for the term 2024-2028.