International Relations Researches

International Relations Researches

Applying transnational commercial law as the law governing contracts in international commercial arbitration

Authors
Mohammad Karimi 1
Gholamreza Karimi 2
1 PhD Student of private Law, Department of Law, Najaf Abad Branch, Islamic Azad University, Najaf Abad, Iran.
2 University Lecturer, PhD in Private Law, North Tehran Branch, Islamic Azad University, Tehran, Iran
Abstract
Transnational commercial law or Lex Mercatoria, has always been proposed as one of the appropriate options for managing contracts concluded in foreign trade, and for many reasons, judges and businessmen in different situations have tended to choose Lex Mercatoria instead of choosing and applying national laws. However, the issue that should be paid attention to is the occasions of applying Lex Mercatoria, which actually refers to the situations where international arbitrators can apply Lex Mercatoria as the governing law of the contract. In this regard, the examination of the situations of the application of Lex Mercatoria shows that the application of this transnational legal system is not only done through the explicit choice of it as the governing law of the contract by the contracting parties, but there are many cases that even in the absence of the explicit choice of Lex Mercatoria as the law governing the contract, the arbitrators have considered it as the appropriate law for managing contracts concluded in foreign trade.
Keywords
Transnational commercial law
Arbitration
Contract
Foreign Trade
Merchants
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