The article analyses the UCP as a form of non-State law. It demonstrates that in some courts the UCP may inadvertently be applied as the governing law of the agreement instead of as contractual ...terms. The article proceeds to analyse the UCP against article 3 of the Hague Principles on Choice of Law in International Commercial Contracts as well as along a set of criteria, developed by the author, that endeavours to provide certainty in the choice of non-State law. On the basis of the application of the above criteria the article comes to the conclusion that the UCP would be suitable as a choice of governing law of the agreement.
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IZUM, KILJ, NUK, PILJ, PNG, PRFLJ, SAZU, UL, UM, UPUK
Abstract
The ability to ensure compliance with investor-state arbitral awards is often regarded as one of the strengths of the international investment regime. Yet, there have been few systematic ...studies of compliance to assess the extent to which states have actually complied with adverse investor-state compensation awards. This paper presents a new dataset that enables empirical research on compliance with these decisions; it is the first publicly available dataset to focus on what happens after awards are handed down, and in this way complements other databases on international investment law. This paper explains the data collection process (and its associated challenges), discusses the design choices made in selecting inputs and variables, presents a descriptive overview of the data, and examines how variables can be used in future research. Moreover, various cases are used as illustrations of the challenges of collecting and coding data on post-award processes and we explore what missing data can tell us about compliance dynamics.
In hierdie artikel word die Islamitiese reg in die konteks van die wyer lex mercatoria oorweeg. Die outeur oorweeg welke eienskappe ’n toepaslike reg moet bevat sodat dit as ’n geldige keuse van ’n ...regsbestel wat nie behoort tot ’n bepaalde staat nie kan dien. Die artikel begin met die verkenning van die internasionale sakegemeenskap konsep. Die internasionale sakegemeenskap het normatiewe funksies, ten minste in sover hierdie norme binne daardie gemeenskap toegepas word. In hierdie artikel ondersoek die outeur wie almal deel uitmaak van daardie gemeenskap en in welke gevalle die norme, wat deur die gemeenskap geskep word, beskou moet word as die toepaslike reg van die kontrak. Hierdie bepaling word gemaak deur aanvanklik te steun op die kriteria soos uiteengesit in artikel 3 van die Haagse beginsels van keuse van regstelsel in internasionale handelskontrakte. Die beginsels in artikel 3 word egter nie woordeliks aanvaar nie, maar uitgebrei en aangepas om aan ’n gemeenskapsgerigte siening van die reg van toepassing op kontrakte te voldoen. Hierdie aangepaste beginsels word deur die outeur sekerheidsmaatstawwe genoem. Die aangepaste kriteria word dan op die Islamitiese reg toegepas om te bepaal of dit geskik is as die toepaslike reg van die kontrak. Twee soorte Islamitiese reg word oorweeg. Na die eerste verwys die outeur as die tradisionele Islamitiese reg, wat hy onvanpas vind om as die toepaslike reg van ’n kontrak te geld op grond van die onsekerheid wat deur die verskillende Islamitiese regskole geskep word en wat nie bevorderlik vir regsekerheid is nie. Die tweede kan nie as sodanig as Islamitiese reg beskou word nie, maar is ’n stel standaarde wat op Islamitiese reg (AAOFII-standaarde) gebaseer word.
In hierdie artikel word die Islamitiese reg in die konteks van die wyer lex mercatoria oorweeg. Die outeur oorweeg welke eienskappe 'n toepaslike reg moet bevat sodat dit as 'n geldige keuse van 'n ...regsbestel wat nie behoort tot 'n bepaalde staat nie kan dien. Die artikel begin met die verkenning van die internasionale sakegemeenskap konsep. Die internasionale sakegemeenskap het normatiewe funksies, ten minste in sover hierdie norme binne daardie gemeenskap toegepas word. In hierdie artikel ondersoek die outeur wie almal deel uitmaak van daardie gemeenskap en in welke gevalle die norme, wat deur die gemeenskap geskep word, beskou moet word as die toepaslike reg van die kontrak. Hierdie bepaling word gemaak deur aanvanklik te steun op die kriteria soos uiteengesit in artikel 3 van die Haagse beginsels van keuse van regstelsel in internasionale handelskontrakte. Die beginsels in artikel 3 word egter nie woordeliks aanvaar nie, maar uitgebrei en aangepas om aan 'n gemeenskapsgerigte siening van die reg van toepassing op kontrakte te voldoen. Hierdie aangepaste beginsels word deur die outeur sekerheidsmaatstawwe genoem. Die aangepaste kriteria word dan op die Islamitiese reg toegepas om te bepaal of dit geskik is as die toepaslike reg van die kontrak. Twee soorte Islamitiese reg word oorweeg. Na die eerste verwys die outeur as die tradisionele Islamitiese reg, wat hy onvanpas vind om as die toepaslike reg van 'n kontrak te geld op grond van die onsekerheid wat deur die verskillende Islamitiese regskole geskep word en wat nie bevorderlik vir regsekerheid is nie. Die tweede kan nie as sodanig as Islamitiese reg beskou word nie, maar is 'n stel standaarde wat op Islamitiese reg (AAOFII-standaarde) gebaseer word. Hierdie standaarde funksioneer op dieselfde wyse as modelreels vir Islamitiese kommersiele kontrakte. Die outeur bevind dat hierdie standaarde aan die vereistes van die sekerheidsmaatstawwe voldoen wat in hierdie artikel voorgestel word, en dit word as geskik beskou as die toepaslike reg van die kontrak. Die kriteria wat in hierdie artikel ontwikkel word, word slegs op Islamitiese reg toegepas, maar, as gevolg van die nut wat deur hierdie kriteria verskaf word, kan dit gebruik word om 'n beoordeling te maak van enige geldige keuse van 'n regsbestel wat nie behoort tot 'n bepaalde staat nie. Vir huidige doeleindes word die gevolgtrekking bereik dat slegs sekere vorme van religieuse reg geskik is as die toepaslike reg van 'n kommersiele kontrak.
Sharrock’s Business Transactions Law was first published in 1986. Eight further editions have been published since then. It has in the over thirty-one years that it has been in circulation become a ...standard text. The target market of the book is non-law students who are encountering the law applicable to business transactions for the first time.
A sound corporate governance code is integral in any country. In 2017, in South Africa that staggers from crisis to crisis, corporate governance is perhaps now more integral than ever before. The ...preceding years have shown the consequences of a dismissal of sound corporate governance principles in stateowned entities, the avoidance of which could have saved the state, and the public, much needed financial resources. This failure of corporate governance in South African state-owned entities, which often leads to government bail-outs, is exacerbated by the high levels of inequality faced in this country.The misused funds could have been invested more diligently by the executive arm of government in combatting the many challenges still facing the country. Many of the directors of these entities have demonstrated on a prima facie basis a gross failure to comply with even the most basic corporate governance principles. Corporate Governance in South Africa with International Comparisons cannot single-handedly change the direction of entities such as those referred to, although what it may assist in doing is ensuring that those who are in charge of companies have access to a very readable up-to-date guide that, while not comprehensive, will ensure that any person that has read it is familiar with the principles of corporate governance as they exist in South Africa.
In 2006 the governing body of the Hague Conference on Private International Law furnished the Secretariat with a mandate to conduct a series of feasibility studies on the development of an ...instrument, relating to the choice of law in international contracts. The outcome of these studies was largely successful, finding that there was a need for an instrument of this nature and additionally it would be welcomed by the international legal community. In 2009 the Permanent Bureau of the Hague Conference on Private International Law was invited to form a Working Group (WG) to draft a soft-law instrument affirming party autonomy in international contracts on an international level. The Hague Principles on Choice of Law in International Commercial Contracts (P) was, thus, born.The P were drafted by a panel of experts representing the majority of the world’s legal systems. The working group commentary (WGC will be used to refer to the commentary, whilst WG will be used to refer to refer to the working group itself) which provided the discussions in respect of, and the reasoning behind, the principles has been invaluable in writing this dissertation. The purpose of this dissertation is to investigate the compatibility of Australian and South African law with the P. One of the aims of the P mentioned specifically in the preamble is that these principles are to be used by countries as a model with which to develop their own rules of private international law. A study of the current law as it stands in comparison to the P marks the first step in this exercise, through finding where the law differs we can begin to bridge the disparity between a specific country’s legal system and that of the P. Should the P become an important part of the private international law discourse comparative studies such as this will become common-place.The fact that the principles were drafted as a soft-law instrument is in line with the growing world trend. The flexibility that is achieved through the use of a soft-law instrument may lead to greater legal certainty down the road as contracting parties and international lawyers alike become more familiar with the principles. This familiarity may lead to consensus among experts from around the world and eventually invite the prospect of a binding instrument being drafted.The P function only in an international context, which means the parties must be domiciled or habitually resident in separate countries. They apply only to commercial contracts, the implications of this are that they only apply to parties, doing business, on an equal footing. They only apply in the business world, labour or consumer contracts are thus excluded from their scope.II. Motivation and StructureThe P have not been approved in final form, as yet, this commentary will thus be centred on all the articles that have been approved of by the special commission of the Hague Conference as on the 16th of November 2012. The discussion excludes the preamble, which has been briefly explained above as well as Article 1, which sets out the scope of the principles, and Article 12 which can be viewed as more of a definition then an actual principle.
LL.M. (International Commercial Law)
In 2006 the governing body of the Hague Conference on Private International Law furnished the Secretariat with a mandate to conduct a series of feasibility ...studies on the development of an instrument, relating to the choice of law in international contracts. The outcome of these studies was largely successful, finding that there was a need for an instrument of this nature and additionally it would be welcomed by the international legal community. In 2009 the Permanent Bureau of the Hague Conference on Private International Law was invited to form a Working Group (WG) to draft a soft-law instrument affirming party autonomy in international contracts on an international level. The Hague Principles on Choice of Law in International Commercial Contracts (P) was, thus, born. The P were drafted by a panel of experts representing the majority of the world’s legal systems. The working group commentary (WGC will be used to refer to the commentary, whilst WG will be used to refer to refer to the working group itself) which provided the discussions in respect of, and the reasoning behind, the principles has been invaluable in writing this dissertation. The purpose of this dissertation is to investigate the compatibility of Australian and South African law with the P. One of the aims of the P mentioned specifically in the preamble is that these principles are to be used by countries as a model with which to develop their own rules of private international law. A study of the current law as it stands in comparison to the P marks the first step in this exercise, through finding where the law differs we can begin to bridge the disparity between a specific country’s legal system and that of the P. Should the P become an important part of the private international law discourse comparative studies such as this will become common-place. The fact that the principles were drafted as a soft-law instrument is in line with the growing world trend. The flexibility that is achieved through the use of a soft-law instrument may lead to greater legal certainty down the road as contracting parties and international lawyers alike become more familiar with the principles. This familiarity may lead to consensus among experts from around the world and eventually invite the prospect of a binding instrument being drafted...
In its African Construction Trends Report of 2018 Deloitte determines that there are 482 construction projects in Africa with a value at or above US$50 million and a total estimated value of US$471 ...billion (4 of the report). These projects are spread over 43 of Africa’s 53 countries. Southern Africa accounts for just over 21% of those projects with a value somewhere in the region of US$ 26 billion with South Africa leading the way with 35% of that market share in infrastructure and capital development projects (25 of the report). The business and economic factors demonstrate the immensity of the construction industry on a global scale and this in turn demonstrates the importance of a comparative study that analyses the principles underlying one of the most important instruments in this field internationally. Marxen’s book obliges the sector to do something in this regard, bringing clarity to the legal principles that underlie the demand guarantee, an instrument that is often not fully understood by courts and scholars. Marxen’s meticulous exposition of South African, English and German case law, over the last decade, (see par 5.3 in the book for some aspects of this exposition), demonstrates a clear understanding of these instruments which are used in many construction projects regardless of scale.
