Analysis of the advantages and disadvantages of standardized trade contracts and their role in the process of economic globalization Cover Image
  • Price 4.50 €

Analiza avantajelor și dezavantajelor contractelor comerciale standardizate și rolul acestora în procesul de globalizării economice
Analysis of the advantages and disadvantages of standardized trade contracts and their role in the process of economic globalization

Author(s): Oana-Ruxandra Gherghina
Subject(s): Law, Constitution, Jurisprudence, Civil Law, Economic development, Globalization, Commercial Law
Published by: C.H. Beck Publishing House - Romania
Keywords: standard forms of contracts; standard contracts; globalisation; boilerplate contracts; FIDIC contracts;

Summary/Abstract: Has standardization facilitated the process of globalization, or has globalization imposed universal patterns? This study aims both to answer this question and to analyse the advantages and disadvantages of standardized commercial contracts, because at the beginning of the globalization era, companies believed that they could standardize terms and processes to such a level that they could develop universal templates which reflected rigid compliance policies. The results of our study show that the standardization of contracts is a legal construction totally independent of this plan, the standard contracts facilitating in many respects the process of economic globalization, but only indirectly, without being able to unequivocally establish that globalization has generated standardization. Standardization has been very useful in overcoming the uncontrolled diversity of multinational operations prior to globalization, but the genesis of standardization lies in the constant need for economic operators to simplify trade between them. Today, standardized contracts, even if they have advantages such as familiarity, balance and predictability, can become an impediment in business, in terms of the new appreciation of the need for sensitivity to local rules and customs, as well as legal requirements.

  • Issue Year: XXI/2022
  • Issue No: 1
  • Page Range: 22-25
  • Page Count: 4
  • Language: Romanian