8 December 2014
On 4 and 5 December 2014, the Council of the European Union (EU) adopted the decision on the approval, on behalf of the European Union, of the Hague Convention of 30 June 2005 on Choice of Court Agreements (see press release, p. 25). With this final step, the EU has completed the internal approval process for this Convention and is now in a position to deposit its instrument of approval with the Ministry of Foreign Affairs of the Kingdom of the Netherlands, the depository of the Convention.
The Convention will enter into force on the first day of the month following a period of three months after the deposit of the instrument of approval by the EU. All EU Member States (except Denmark) as well as Mexico, which acceded to the Convention on 26 September 2007, will then be bound by the Convention.
This Convention was concluded in The Hague on 30 June 2005; it is anticipated that its entry into force will coincide approximately with the date of the 10th anniversary of its conclusion.
Once in operation, the Choice of Court Convention will provide a sound legal framework for companies and individuals when resolving international commercial disputes arising out of contracts in which they have designated a forum to resolve their disputes.
For more information on the Convention and its status, visit the "Choice of Court Section" of the Hague Conference website.