New Developments On The Law Applicable To International Contracts

In April2013, the Council on General Affairs and Policy, the governing body of the Hague Conference on Private International, endorsed the latest document on choice of law in international contracts named "The Hague Principle on Choice of Law in International Contracts (draft)"(hereinafter referred to as "the Principles"). In order to advance party autonomy and strengthen legal certainty, the Principles make detailed provisions regarding to party autonomy concerning issues of the choice of law in international contracts. The Principles are innovative in both content and form, known as "the New Try for choice of law rules applicable to international contracts".This article will mainly focus on the provisions regulating party autonomy to explore the new developments on the law applicable to international contract, comparing with the related conflict law like "Regulation (EC)593/2008of the European Parliament and of the Council of17June2008on the Law Applicable to Contractual Obligations (hereinafter referred to as "Rome I Regulation") and "the Inter-American Convention of17March1994on the Law Applicable to International Contracts"(hereinafter referred to as "Mexico City Convention"), which have great influence in the field of choice of law in international contracts, and based on which to put forward some rudimentary advices to improve the relevant provisions concerning choice of law applicable to foreign-related contracts in our country.This paper is composed of three parts:the introduction, the main body and the conclusion. The main body can be further divided into four chapters.Chapter One expounds the background and drafting process of the Principles. Chapter Two introduces the aim and the scope of application of the Principles, and then discusses the articles providing for party autonomy of the Principles.Chapter Three evaluates the Principles according to "Rome I Regulation" and other conflict laws. To be specific, it explores the contributions the principles made to promote harmonizing choice of law in private international law based on three aspects, including summarizing, expanding and improving the principle of party autonomy. Besides, the paper analyses some shortcomings of the Principles.Chapter Four introduces the current situation and insufficiencies existing in the law applicable to foreign-related contracts concerning party autonomy in China, and then proposes some improving advices on the basis of the Principles.