Is Lex Mercatoria Jeopardizing the Application of Substantive Law?
Chair of German and Foreign Public Law, European Law and Public International Law
April 15, 2013
Czech (& Central European) Yearbook of Arbitration, Volume III, 2013, Borders of Procedural and Substantive Law in Arbitral Proceedings (Civil versus Common Law Perspectives)
The following article discusses the application of lex mercatoria by domestic courts and international arbitral tribunals instead of or supplementary to domestic substantive law. Emphasising the legal status of lex mercatoria, the article evaluates its value compared to substantive law. To provide legal certainty, it also tries to establish certain criteria regarding the recognition of certain business principles as lex mercatoria.
Number of Pages in PDF File: 31
Keywords: lex mercatoria, CISG, UNIDROIT, Handelsbrauch, merchant law, customary law, substantive law, arbitration, requirements, apllicable law, UNIDROIT, Russia, Ukraine, Germany
Date posted: April 16, 2013 ; Last revised: April 29, 2013