14 October 2015
The Permanent Bureau is pleased to announce the recent publication of the Principles on Choice of Law in International Commercial Contracts (the "Hague Principles").
The Hague Principles affirm party autonomy as a basis for the choice of law in international commercial contracts and thereby strengthen legal certainty and predictability in such international transactions.
The Hague Principles, which were formally approved by the Hague Conference on 19 March 2015, have already proved their usefulness by serving as a model for the Paraguayan Law on the Law Applicable to International Contracts earlier this year (for more information, see here). Further to the endorsement by UNCITRAL in July 2015 (see here), the Hague Principles are set to be a source of inspiration for reform and harmonisation initiatives concerning the rules on choice of law in international commercial contracts.
The Permanent Bureau hopes that the publication of the Hague Principles will help with raising awareness and promote the use the Hague Principles around the world. An electronic copy of the publication of the Hague Principles is available for download here. Paper copies of the Hague Principles (in English or French) can be ordered from the Permanent Bureau at a cost of €20 per copy (excluding postage costs and a handling fee of €10.00 per order). For more information on the Hague Principles, please visit the "Choice of law in international contracts" section of the Hague Conference website.