International Commercial Transactions: 1995

Abstract

The year 1998 showed mixed progress in the field of international commercial law, On the one hand, enough states became parties to two conventions-the United Nations Convention on Independent Guarantees and Stand-by Letters of Credit 1 and the UNIDROIT Convention on the International Return of Stolen or Illegally Exported Cultural Objects 2 - that these conventions will enter into force.During this same period, on the other hand, the intergovernmental organizations usually reviewed in this Survey Article neither initiated nor completed a project.3 This year's Article is therefore principally an update of the status of transnational commercial law projects mentioned in previous Survey articles.4 The most important of these projects are the preliminary draft UNIDROIT Convention on Interests in Mobile Equipment (Mobile Equipment Conven-

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