The OECD, or Organization for Economic

Cooperation and Development, is an

international organization that promotes policy
coordination and economic freedom among
..............

• developed nations

Q under - developed nations

Q developing nations

Q deprived nations

The essential purpose of instituting ................was

to promote accelerated development of the less
developed regions of the world by dealing
properly with the problem of slow expansion of
exports, persistently increasing BOP deficits,
burden of external debts etc. confronting the
LDC's

0 UNDP

•0 UNCTAD

UNCITRAL

0 UNICEF
One of the principal achievements of UNCTAD
(1964) has been to conceive and implement the

II Generalised System of Preferences (GSP}.

Q General System of Preferences ( GSP}

Q Generalised Statement of Preferences (GSP}.

Q Generalised System of Products (GSP}.

The ...................................is the global development

network of the United Nations. It promotes
technical and investment cooperation among
nations and advocates for change and connects
countries to knowledge, experience and
resources to help people build a better life for
themselves.

Q Unite Nations Development Programme (UNDP}

a United Nations Development Programme (UNDP}

Q United Nations Development Project (UNDP}

Q United Nations Develop Programme (UNDP}

Membership of UNCITRAL is determined by
UNGA and Member states are deliberately
chosen to be globally representative, and the 60
states, therefore, comprise ......... African stat es,
......... Asian states, ......... Eastern European states,
......... Latin American and Caribbean states and
....... Western European and other states

•0 14, 14, 8, 10 and 14

14, 14, 8, 1O and 12

0 14, 12, 8, 1o and 14

0 12, 14, 8, 10 and 14

Established by the UNGA in 1966, UNCITRAL's

official mandate is "to promote the
.....................................of international trade law"
through conventions, model laws, and other
instruments that address key areas of commerce,
from dispute resolution to the procurement and
sale of goods.

Q progress harmony and unification

Q progressive harmony and unification

Q progressive harmonizat ion and unity

progressive harmonizat ion and unification

The IFC ...................... .invest in projects in the
advanced countries

• does not

Q does

Q may

Q none of the stated options

The OECD's main focus is to help governments

around the world achieve the following: Improve
confidence in markets and the institutions that
help them function;

Obtain healthy public finances to achieve future

0 sustainable economic growth;

Provide resources for people to develop the skills

0 they need to be productive.

• Al I of the above

Achieve growth through innovation,

0 environmentally friendly strategies, and the
sustainability of developing economies.
UNCITRAL aims to formulate modern, fair, and
harmonized rules on such commercial
transactions. Its work includes conventions,
model laws, and rules which are acceptable
worldwide; legal and legislative guides, and
practical recommendations;

updated information on case law and enactments

0 of uniform commercial law;

0 technical assistance in law reform projects; and

regional and national seminars on uniform

0 commercial law.

All of the above

UNDP s Equator Initiative office biennially offers

1

the .............to recognize outstanding indigenous

community efforts to reduce poverty through
the conservation and sustainable use of
biodiversity, and thus making local contributions
to achieving the Sustainable Development Goals
(SDGs) .

•0 Equator Prize

Equality Prize

0 Oscar Prize

0 Equal Prize
...........are legislative text that is recommended to
States for enactment as part of their national
laws. They are generally finalized and adapted by
UNCITRAL, at its annual session, while
conventions requires the convening of a
diplomatic conference

S Model laws

Q Middle laws

Q Modular laws

Q Modern laws

UNCTAD is the part of the United Nations

Secretariat dealing with trade, investment, and
development issues. The organization's goals are
to: "maximize the trade, investment and
development opportunities of ..........................and
assist them in their efforts to integrate into the
world economy on an equitable basis".

0 rich countries

0 under - developed countries

Q developed countries

'9 developing countries

World Trade Organisation, headquartered
at..................., Switzerland, consists of 153
members and represents more than 97% of
world's trade.

0 New York

0 The Hague

i) Geneva

0 Dubai

The United Nations Conference on Trade and

Development (UNCTAD) was established in
............. as a permanent intergovernmental body.

0 1991

0 1946

e 1964

0 1965
vv I u was rormea as a 9Iooa1 international
organization dealing with the rules of
.................among countries

0 investment

0 intern a I trade

0 inter-city trade

• international trade

UNCITRAL operates from the premise that

international trade has global benefits to its
participants. Through the salient areas of
commercial law its mandate covers include
dispute resolution, international contract
practices, transport,

Q electronic commerce,

Q international payments,

• all the options

Q insolvency,
Headquartered in ..................the OECD was
formed in 1961 and included members from
democratic states such as the United States,
countries in Western Europe, Japan, Canada,
Australia, and New Zealand.

I) Paris, France,

0 New York, US

0 Madrid, Spain

0 London, England

................was formed in 1995 to replace the

General Agreement on Tariffs and Trade (GATT),
which was started in 1948. GATT was replaced
because GATT was biased in favor of developed
countries.

0 ILO

•0 WTO

UN

0 INTERPOL
The IFC was established in 1956, as the private-
sector arm of the World Bank Group, to advance
economic development by investing in
................ .for poverty reduction and promoting
development

~ for-profit and commercial projects

Q for-profit and investment projects

0 for-profit and commercial products

Q not-for-profit and commercial projects

Less developed countries find the investment

policies of the IFC tough. For example,
entrepreneurs in the borrowing countries have to
meet ........... of the value of their projects

•0 50%

40%

0 60o/o

0 80%
The ........................ ................is a set of rules on the
issuance and use of lett ers of cre dit

Uniform Cus tom s and Practical for Doc ume nta ry

0 Credit (UCP)

Uniform Customary and Practice for

0 Documentary Credit (UCP)

Union Cus tom s and Practice for Doc ume ntar y

0 Credit (UCP)

• Uniform Cus tom s and Practice for Doc ume ntar y

Credit (UCP)

The .................. ...... ...of 1924 (formally the

"International Convention for the Un ific atio n of
Certain Rules of Law relating to Bills of Lading,
and Protocol of Signature") is an international
convention to imp ose min imu m standards upo n
commercial carriers of goo ds by sea .

•0 Hague Rules

Prague Rules

0 Hamburg Rules

0 Hague Ruling
UCP is the most successful set of ..............rules
for trade ever developed

0 Public

0 Commercial

~ Private

0 Legal

The CISG applies only to .......................transactions

and avoids the recourse to rules of private
international law for those contracts falling under
its scope of application

0 National

0 Inter- regional

•0 International

Regional
Among the many significant provisions of the
CISG are those addressing the follow ing matters
Interpretation of the parties' agreement;

The manner, timing and effectiveness of

0 acceptances of offers

The role of practices established between the

0 parties, and of international usages;

0 The features, duration and revocability of offers ;

• Al I the options

Adop ted by UNCITRAL on 15 May 1992, the Model

Law on .................... ........... deals with operations
beginning with an instru ction by an origin ator to
a bank to place at the disposal of a beneficiary a
spec ified amount of money. It covers such
matte rs as the obligations of a sender of the
instru ction and of a receiving bank, time of
paym ent of a receiving bank and liability of a
bank to its sender or to the origin ator when the
trans fer is delayed or anoth er error occurs.

Q Internal Credit Transfers (1993)

i) International Credit Transfers (1992)

Q Internal Credit Transfers (1992)

The ...................are the mos t successful rules ever
deve lope d in relation to trade and most Letters
of Cred it are subje ct to them

(e UCP 600

0 UCP 700

0 UCP 400

0 UCP 500

Part IV of the CISG includes Artic le 89 - 101

whic h state provi sions regarding ratifi catio n and
acce ssion of the cont racti ng states unde r the
head ing of.................

Q 'Final Proceedings'

Q 'Financial Provisions'

Q 'Fine Provisions'

(t 'Final Provisions'
The Uniform Customs and Practice for
Documentary Credits ("UCP") is the rule
governing the Documentary credits. It was
established by the ........................to mitigate the
doubts caused by individual countries promoting
their own national rules on documentary credit
practice.

Q Inter Chamber of Commerce (ICC)

~ International Chamber of Commerce (ICC)

Q International Chamber of Computers (ICC)

Q International Charter of Commerce (ICC)

The .................. is a set of rules regulating which

courts have jurisdiction in legal disputes of a civil
or commercial nature between individuals
resident in different member states of the
European Union (EU) and the European Free
Trade Association (EFTA). It has detailed rules
assigning jurisdiction for the dispute to be heard
and governs the recognition and enforcement of
foreign judgments.

0 Brussels Rules

(t Brussels Regime

0 Brussels Regiment

0 Hague Regime
UNCITRAL con ven tion on international bills of
exch ang e and inter natio nal prom isso ry note s
1988 doe s not app ly to ...........

0 Overdraft

0 Lette r of cred it

0 Bill of lading

~ Cheques

Purely .....................sale con trac ts are not affe cted

by the CISG and remain regulated by dom esti c
law.

0 loca l

9) Dom estic

0 glob al

0 Regional
Designed to facilitate international trade, the
C ISG removes legal barriers among state parties
known as ....................and regulates the duties and
obligations of parties to a commercial
transaction, such as the delivery of goods,
contract formation, and remedies for breach of
contract.

Q 11
Contracted States
11

I) "Contracting States
11

Q "Contract States"

Q "Contracting Statutes"

A ....................credit can be defined as a written

undertaking given by a bank (issuing bank) to the
seller (beneficiary) on the instruction of the
buyer (applicant) to pay at sight or at a
determinable future date up to a stated amount
of money

I) Documentary

Q Revolving

Q Revocable

Q Uniform
The Uniform Customs and Practice for
Documentary Credits (UCP) is a set of rules on
............................................The UCP is utilized by
bankers and commercial parties in more than 175
countries in trade finance. Some 11-15% of
international trade utilizes letters of credit,
totaling over a trillion dollars (US) each year.

Q the issuance and use of bills of exchange.

Q the issuance and use of bank drafts

Q the issuance and use of letters of exchange

@) the issuance and use of letters of credit.

The .....................is the largest, most representative

business organization in the world and has three
main activities: rule setting, dispute resolution,
and policy advocacy.

Q Internal Chamber of Commerce

Q International Chapter of Commerce

• International Chamber of Commerce

Q International Chamber of Communication

The ...............................purports to enable and
facilitate commerce conducted using electronic
means by providing national legislators with a set
of internationally acceptable rules aimed at
removing legal obstacles and increasing legal
predictability for electronic commerce.

Q Model Law on Electric Commerce (MLEC)

• Model Law on Electronic Commerce (MLEC)

Q Modern Law on Electronic Commerce (MLEC)

Q Model Lesson on Electronic Commerce (MLEC)

The CISG consist of ............. articles which have

been divided into four parts.

4't 101

0 100

0 105

0 90
The United Nations Convention on
................................has been recognized as the
most successful attempt to unify a broad area of
commercial law at the international level.

Q Contacts for the International Sale of Goods

(CISG)

Q Contract for the International Sale of Goods

(CISG)

Q Contracts for the Internal Sale of Goods {CISG)

9) Contracts for the International Sale of Goods

(CISG)

The United Nations Convention on Contracts for

the International Sale of Goods (CISG),
sometimes known as the..............., is a multilateral
treaty that establishes a uniform framework for
international commerce.

0 Brussels Convention

0 Vietnam Convention

i) Vienna Convention

0 Hague Convention
The Inspection Panel consists of three
members appointed by the . ...for a
five-year non-renewable term. Members
are selected on the basis of their
ability to
deal thoroughly and fairly with the
complaints brought to them, their integrity
and independence from Bank management,
and their exposure to developmental issues
and living conditions in developing
countries

O Board of Directors

O Board of Discretionary Directors

Board of Executive Directors

O Board of Independent Directors

The Panel has a permanent ...that
provides operational and administrative
support. For its fact-finding and
investigations, the Panel also hires
independent, internationally recognized
experts to ensure objective and
professional assessment of the issues
under review.

OAssembly

OSecretariat
OWorking committee

BOD
Clear selection

The .is the governing9

arbitration statute in India. It is based on the
Model Law of international Commercial
Arbitration adopted by the United Nations
Commission on International Trade Law
(UNCITRAL) in 1985

Indian Conciliation Act 1996

Indian Arbitration and Conciliation Act
O 1990

Indian Arbitration Act 1996

Indian Arbitration and Conciliation Act
1996
 ...is the only international court
The.
that adjudicates general disputes between
countries, with its rulings and opinions

serving as primary sources of international

law.

OICJ

O IBRD

O UNCITRAL

O WTO

Clear selection

. means a sole arbitrator or a

panel of arbitrators

OArbitral tribunal
Arbitral committee

Arbitral panel
OArbitral lawyers
Seated in the.. ..in The Hague,
Netherlands, the ICJ is the only principal UN
organ not located in New York City.

OPalestine Palace

O Queens Palace

O UN office

Peace Palace

Clear selection

The ICJ consists of a panel of . .

judges elected by the UN General Assembly
and Security Council for... year terms.
No more than one nationality may be
represented on court at the same time, and
judges collectively must reflect the
principal civilizations and legal systems of
the world.

O15;15
O10;11
O 15;9
O 9;15
The Inspection Panel was the first body to
promote mong international
financial institutions through this
community-led, or "bottom-up", approach
which is complementary to the "top-down"
forms of accountability, such as evaluation
initiated by the World Bank itself.

authority
O responsibility

leadership
Oaccountability
Clear selection

s an agreement by the parties

to submit to arbitration all or certain
disputes which have arisen or which may
arise betvween them inn respect of a
defined legal relationship, whether
contractual or not. It may be in the form of
an arbitration clause in the contract or in
the form of a separate agreement.

OAbiding Agreement
O Acquisition Agreement

O Annual Agreement

OArbitration Agreement
The International Court of Justice has
jurisdiction in two types of cases:
. between states in which the court
produces binding rulings between states
that agree, or have previously agreed, to
submit to the ruling of the court;
and..... ..,, which provide reasoned, but
non-binding, rulings on properly submitted
questions of international law, usually at the
request of the United Nations General
Assemblyy

contentious cases; advisory opinions

O advisory opinions; contentious cases

O contentious cases; legal cases

Ocontentious cases; arbitrary cases

Clear selection
In contentious cases (adversarial
proceedings seeking to settle a dispute),
the ICJ produces a binding ruling between
states that agree to submit to the ruling of
the court. Only ..may be parties in
contentious cases; individuals,
corporations, component parts of a federal
state, NGOs, UN organs, and self
determination groups are excluded from
direct participation, although the court may
receive information from public
international organizations.

States

O NGO

O Independent Bodies

Trading- blocs

Clear selection
 ICSID has a simple organizational structure

consisting of an.. . . a n d a...

Administrative Council; Arbitration Panel

Administrative Council; Secretariat

O Secretariat; Administrative Council

O Committee; Secretariat

Clear selection

The International Court of Justice (ICJ),

sometimes known as the.... is one of
the six principal organs of the United
Nations (UN). It settles disputes between
states in accordance with international law
and gives advisory opinions on international
legal issues.

World Forum
World Panel
World Arbitrator
OWorld Court
The Inspection Panel's mandate allows it to
investigate projects funded by the.
both part of the World Bank Group, and to
determine whether they are complying with
their policies and procedures in the design,
appraisal, and implementation of a project.
These policies and procedures are not
limited to the Bank's social and
environmental safeguard policies, but
include other operational policies, bank
procedures, and operational directives, as
well as other Bank procedural documents.

O IDA and IDBI

O IFC and IBRD

O WTO and IBRD

O IDA and IBRD

The ICJ is composed of fifteen judges
elected to nine-year terms by the UN
General Assembly and the UN Security
Council from a list of people nominated by
the national groups in the..

OCourt of Justice
OPanel of Arbitrators
OChief Justice
OPermanent Court of Arbitration
Clear selection

The Convention on the Recognition and

Enforcement of Foreign Arbitral Awards
(New York, 1958), better known as
the.. . . , is one of the most important
United Nations treaties in the area of
international trade law and the cornerstone
of the international arbitration system.

Brussels Convention
New Jersey Convention

New York Convention

ONew Hampshire Convention

The.. S an independent
accountability mechanism of the World
Bank. It was established in September 1993
by the World Bank Board of Directors, and
started operations on August 1, 1994. The
Panel provides a forum for people who
believe that they may be adversely affected
by Bank-financed operations to bring their
concerns to the highest decision-making
levels of the World Bank.

Inspect Panel
OInspection Panel

O Introspection Panel

O Independent Panel
The . . . s an international
arbitration institution established in 1966 for
legal dispute resolution and conciliation
between international investors and States.

International Centre for Settlement of

Investment Disputes (1CSID)

International Centre for Suppression of

Investment Disputes (1CSID)

Inter Centre for Settlement of Investment

O Disputes (ICSID)
Inter- nation Centre for Settlement of
O Investment Disputes (ICSID)

Clear selection

The ...is the governing body of

ICSID. It is comprised of one representative
of each of the ICSID Contracting States.

OArbitration Panel
Council of Ministers
Administrative Council

OAdministrative Agency
The Indian Arbitration and Conciliation Act
1996 applies to both.. ...arbitration in
India and to international arbitration

OLocal
ODomestic

Internal
OCommercial