UDC 341.63
Biblid: 1451-3188, 18 (2019)
Vol. 18, No 67, pp. 357-375

Оriginal article
Received: 01 May 2019
Accepted: 15 May 2019


PEJAK doc. dr Miladin (АИК Банка а.д., Београд), miladin.pejak@aikbanka.rs

One of the most significant sources of arbitration is the Model Law of the UN Commission on International Trade Law (UNCITRAL). This Model is recommended to the countries since the inclusion of its norms in national legislation will contribute to the harmonization of the legal rules on the arbitration judiciary. The UNCITRAL Model Law strives to be an example or a model for the legal regulation of international trade arbitration, which means it has the character of an optional rather than a normative legal source. The solutions contained in this Model Law may be accepted by the national legislature in an integrated text or may be modified, with the degree of modification depending on the specific interests that the State concerned wants to protect. Many countries have accepted the legal concepts and solutions contained in the UNCITRAL Model Law either by adopting new ones or by amending the existing arbitration regulations. On the other hand, some national legislation did not accept the solutions offered by this Model. Using the comparative legal method in the analysis of national legislation, the author came to the realization of the extent to which the UNCITRAL Model Law has influenced the legislation of some of the most influential European countries.

Keywords: UNCITRAL Model Law, International Arbitration, Harmonization of Law, Germany, England, Italy, Hungary, France