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File 4

Being one of the core legal bodies of the UN the United Nations Commission on International Trade Law (UNCITRAL) contributes to the creation, modernization and harmonization of the rules of international commerce. One of the recent fruits of its incessant work is the document drafted in plain and well understood language comprising indicators of commercial fraud. As early as 2002 UNCITRAL first considered the problem of fraudulent practices that resulted in a significant adverse impact on world commerce and affected legitimate commercial institutions in a negative manner. Envisaging how to combat this problem there was agreed upon that the identification of common warning signs and indicators of commercial fraud could be very useful in figuring out commercial fraud. The document prepared by UNCITRAL and issued 2013 lists 23 indicators of supposed commercial fraud that could substantially help while dealing with business contractor.