'It Hurts My Head to Think about It' - SMEs and the Legal Framework for International Commercial Contracts
85 Pages Posted: 3 Aug 2016
Date Written: 2016
The exercise of party autonomy through careful contractual drafting allows parties contracting across borders to stipulate the applicable law and dispute resolution process most appropriate to the transaction at hand. This paper reflects on empirical research to consider the perceptions and experiences of small businesses in New Zealand in relation to the legal framework for international commercial contracts. The inclusion of choice of law and dispute resolution provisions can greatly increase certainty in relation to the applicable legal framework. However, the introduction of more suitable default positions for international transactions is warranted to more adequately meet the needs of New Zealand’s SMEs and provide more meaningful access to justice.
Keywords: International Commercial law, SMEs/small business, Party Autonomy, Choice of law, Choice of forum, International Arbitration, Bilateral Arbitration Treaty (BAT)
JEL Classification: K22, K33
Suggested Citation: Suggested Citation