Applicable Law in International Commercial Transactions
Governing law is one of the first concerns in international commercial transactions, and its choice – or the failure to make a proper choice – might turn out to be a major risk when drafting a contract. The issues which are to be taken into account for the choice of law when drafting a transnational agreement are anything but self-evident. The complications increase where a transaction includes or might include not only contractual obligations but also non-contractual risks. Where, how and to what extent can a properly made choice of law mitigate the risks linked to the uncertainties surrounding the law applicable to a transaction or a chain of interrelated operations and obligations? This will be one of the central issues of this joint session. Choice of law walks also hand in hand with choice of jurisdiction, one of the major risks being in this respect to have a court applying a domestic law which is not its own. The application of foreign mandatory provisions might also prove to be a nonnegligible risk factor.
On the basis of very pragmatic case studies presented by experts of international sales, international contracts and transport operations, our private international law reflections will handle those crucial points with a particular reference to the current trends and principles set forth on this subject by national and international Courts, with the aim to provide a platform for exchange of experiences among all participants.