Advocacy for soft law instruments to consolidate international commercial law across the globe

Abstract-

There has never been a better time to be an international commercial law scholar. After decades of being held hostage to state-centered ideas, international commercial law has finally broken through to become more solution oriented. Increasingly, nation states are becoming less important in the creation of international commercial law with the growth of regional organizations, non-state actors, and international arbitration. This is spurred on by the march of globalization and the need for international commercial law. The term “harmonization will be used as a surrogate to discuss the creation of international commercial law as it is the primary means by which international commercial law is created. This article seeks to explore two preponderant trends that have become visible in the making of international commercial law. In Part I, I shall describe the background. In Parts II and III, I will highlight the growing role of regional endeavors at harmonization, and the rise of non-binding instruments.

Authored by Nandini Tripathy, Symbiosis Law School, Hyderabad.

International commercial law and its implications for commercial law in UK context

Abstract-

International Commercial Law is a frame of prison regulations, conventions, treaties, home rules and commercial customs or usages, that governs global business or business transactions. A transaction will qualify to be worldwide if factors of multiple countries are worried. Lex mercatoria refers to that a part of worldwide commercial regulation that is unwritten, inclusive of normal industrial law; standard policies of proof and system; and general concepts of industrial law. International industrial contracts are sale transaction agreements made between parties from extraordinary countries. The strategies of getting into the foreign market, with desire made balancing prices, manage and risk, encompass: 1. Export without delay. 2. Use of foreign agent to promote and distribute. 3. Use of foreign distributor to on-sell to nearby customers. 4. Manufacture products inside the overseas countries. Through either setting up commercial enterprise or by using acquiring an overseas subsidiary. 5. Licence to a local manufacturer. 6. Enter right into a joint project with a foreign entity. 7. Appoint a franchisee.

Authored by Nandini Tripathy, Symbiosis Law School, Hyderabad.