Once a subject is entered on UNIDROIT’s Work Programme, the Secretariat, assisted by experts in the field as necessary, will draw up a feasibility study and/or a preliminary comparative law report designed to ascertain the desirability and feasibility of law reform. Economic impact assessments are also carried out where appropriate.
The results of these studies are submitted to the Governing Council, which, if appropriate, will decide to set up a Study or Working Group, composed of experts in the field participating in their personal capacity.
For hard law instruments, the draft prepared by the Study or Working Group is subsequently examined by a Committee of Governmental Experts (CGE), including representatives of UNIDROIT member States and observers (IGOs and NGOs and non-member States). Once the CGE has completed its work, an UNIDROIT Member State will convene a Diplomatic Conference for the adoption of the Convention or Protocol. Sets of principles and/or legal guides, on the other hand, are adopted by the Governing Council, once they have undergone thorough and widespread consultation processes.
The International Institute for the Unification of Private Law (UNIDROIT) is an independent intergovernmental Organisation with its seat in the Villa Aldobrandini in Rome. Its purpose is to study needs and methods for modernising, harmonising and co-ordinating private and in particular commercial law as between States and groups of States and to formulate uniform law instruments, principles and rules to achieve those objectives.