Transnational Commercial Law

arbitration clause -

• binding international treaty provisions

• recognizable pattern of previous conduct between the parties of a more recent transaction from which a dispute has arisen

• contract clause providing that any dispute arising under the contract will be submitted to arbitration, in the place and according to the laws and rules specified in the clause

• the principle under which countries recognize and enforce each other's legal decrees

comity -

• a sovereign state which a member of a confederation of other such states, such as the European Union or the United Nations

• similar to mediation, in which an impartial third party helps the parties to a dispute to resolve their problem, but which unlike arbitration does not lead to a decision to which the parties are bound

• form of dispute resolution (an alternative to litigation through the court system in which disputes are heard and decided by an impartial arbitrator or arbitrators, chosen by the parties to the dispute

• the principle under which countries recognize and enforce each other's legal decrees

Conciliation -

• similar to mediation, in which an impartial third party helps the parties to a dispute to resolve their problem, but which unlike arbitration does not lead to a decision to which the parties are bound

• a sovereign state which is a member of a confederation of other such states, such as the European Union or the United Nations

• a court of law or judicial tribunal where disputes are heard and decided

• co-operation between governments and organizations to make laws more uniform and coherent

Course of dealing -

• beyond national boundaries, at a level above national governments

• body of legal principles that govern business transactions deriving from the established customs of merchants

• the many interpretative and non-binding statements, for example by treaty monitoring bodies, that can contribute to an understanding and greater compliance of the law

• recognizable pattern of previous conduct between the parties of a more recent transaction from which a dispute has arisen

forum

• a court of law or judicial tribunal where disputes are heard and decided

• non-profit and/or voluntary organization that is not part of government

• the power, right or authority to interpret and apply the law

• norms drafted by authoritative bodies, e.g. UNCITRAL, to create a standard, which may be adopted by various jurisdictions, to govern a particular area of the law, e.g. transport of goods

hard norms

• the principle under which countries recognize and enforce each other's legal decrees

• contract clause providing that any dispute arising under the contract will be submitted to arbitration, in the place and according to the laws and rules specified in the clause

• binding international treaty provisions

• recognizable pattern of previous conduct between the parties of a more recent transaction from which a dispute has arisen

harmonisation

• norms drafted by authoritative bodies, e.g. UNCITRAL, to create a standard, which may be adopted by various jurisdictions, to govern a particular area of the law, e.g. transport of goods

• body of legal principles that govern business transactions deriving from the established customs of merchants

• the many interpretative and non-binding statements, for example by treaty monitoring bodies, that can contribute to an understanding and greater compliance of the law

• co-operation between governments and organizations to make laws more uniform and coherent

jurisdiction -

• the power, right or authority to interpret and apply the law

• non-profit and/or voluntary organization that is not part of government

• the many interpretative and non-binding statements, for example by treaty monitoring bodies, that can contribute to an understanding and greater compliance of the law

• a court of law or judicial tribunal where disputes are heard and decided

lex mercatoria

• non-profit and/or voluntary organization that is not part of government

• the power, right or authority to interpret and apply the law

• body of legal principles that govern business transactions deriving from the established customs of merchants

• co-operation between governments and organizations to make laws more uniform and coherent

member state -

• form of dispute resolution (an alternative to litigation through the court system in which disputes are heard and decided by an impartial arbitrator or arbitrators, chosen by the parties to the dispute

• a sovereign state which is a member of a confederation of other such states, such as the European Union or the United Nations

• body of legal principles that govern business transactions deriving from the established customs of merchants

• the power, right or authority to interpret and apply the law