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A-national rules as the applicable law in international commercial contracts with particular reference to the ICC Model Contracts.
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When choosing the applicable law, parties may wish to agree on neutral solutions, instead of submitting the contract to the domestic law of one of the parties. When this is the case they may opt for the law of a third country or they may decide to submit their contract to a-national rules of law, such as “principles of law generally recognized in international trade”, “Unidroit Principles on International Commercial Contracts”, or other transnational rules.
ICC has followed this second approach in several of its model contracts by providing optional choice-of-law clauses referring to “principles of law generally recognized in international trade” in conjunction with the Unidroit Principles.
The Task Force which has prepared this study has been created, within the ICC Commission on Commercial Law and Practice, with the purpose of exploring the pro’s and con’s of choice-of-law clauses based on general principles of law and the Unidroit Principles and of clarifying the practical use that can be made of such solution in order to construe choice of law clauses which may help parties to escape the rigid alternative between “my law” or “your law”.
