An Overview of UNIDROIT's Work on Private Law

An international organization labeled the International Institute for the Unification of Private Law (UNIDROIT) was established in 1926 to ensure uniformity of private law. This organization has conducted varied international studies since its establishment, and its work has contributed significantly in both theory and practice to the development of private law. In particular, the studies conducted by UNIDROIT have come to be vital guides for jurists engaged in private law because they employ comprehensive and comparative legal methods in their preparation of international texts. This study first explains the structure of UNIDROIT before outlining its current studies. It briefly evaluates the 2016 UNIDROIT Principles of International Commercial Contracts, which are essential for international arbitration practice. Subsequently, the study attempts to guide legal scholars engaged in private law by offering an overview of the research currently on the UNIDROIT's agenda: the regulation of digital assets, an effective way of collecting foreign receivables, the model factoring law, and the regulations on the bankruptcy of banks.