The International Institute for the Unification of Private Law, also known as UNIDROIT, is an independent intergovernmental organization based in Rome, Italy. Its aim is to study the needs and methods for modernizing, harmonizing and coordinating private international law and commercial law between States in particular, and to formulate uniform law instruments, principles and standards to achieve those objectives.

Likewise, it has among its main functions the drafting and adoption of regulations concerning private law issues applicable to the member countries of the UNIDROIT. One of the major achievements applicable to national legislation is the general principles of private law. These principles embrace the topics of the commercial and civil Law.

UNDROIT has 63 Member States, and Colombia has been a part of it since April 19, 1940.

UNIDROIT’s Statute can be found at the link: http://www.unidroit.org/english/presentation/statute.pdf