MODEL CLAUSES - AN EFFICIENT TOOL FOR CREATING PREDICTABILITY IN INTERNATIONAL BUSINESS CONTRACTING
MODEL CLAUSES - AN EFFICIENT TOOL FOR CREATING PREDICTABILITY IN INTERNATIONAL BUSINESS CONTRACTING

Summary/Abstract: A commercial contract refers to a legally binding agreement between parties in which they are obligated to do or restrain from doing particular things. This usually involves the movement of goods and rights or service delivery. Different terminologies, ambiguity or meaninglessness that may have certain provisions regulating concrete contractual issues resulting from differences that exist between the various legal systems of different countries have created situations of uncertainty of the contracting parties in the interstate business contracts. Solutions to get out of this situation were found in the so-called clause models that quickly came into use by being widely accepted by business entities around the world. For such admission, the promotion of the most weight organizations and institutions in the field of business contracting -International Institute for the Unification of Private Law (UNIDROIT), the International Chamber of Commerce (ICC), International Trade Center (ITC), and European Commission of the European Union-have also contributed. These model clauses serve as invaluable guide that clarifies the issues surrounding international contracts and help lawyers and business people avoid the most common pitfalls. By analyzing the most widely used examples of model clauses, particularly in the area of drafting and negotiating contracts, sales of goods or cases of force majeure, the author confirms the established hypothesis that the model clauses have a significant influence on the provision security between the contracting parties, and also in the strengthening of confidentiality between them.

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