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Governing Clause for International Commercial Contract

   

Added on  2020-03-13

5 Pages975 Words348 Views
Law
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GOVERNING CLAUSE
Governing Clause for International Commercial Contract_1

A commercial contract is successfully persuaded by complying with all applicable legalprovisions. It is an important issue which is to be reviewed in case of international context,where a contract is connected or dealt in many countries (Moses, 2017). Being a Sales Directorof “Pharmaceutical (UK)” Governing clause for the international contract has been draftedbelow. Further five reasons for choosing the same has also been provided.GOVERNING CLAUSE FOR INTERNATIONAL CONTRACTS“ This agreement and any other argument or disagreement or claim which has beenarising out of or in connection with its subject matter (comprising non-contractual disputes orclaims) shall be governed by and construed in accordance with provision available in Englishlaw. Further, any dispute in the case arises out of or in connection with this contract, comprisesvalidity or termination would be ultimately resolved by arbitration rules which are deemed to beincluded in this clause. The no. of arbitrator (one / three) (specify along with the provisionsrelating to the manner in which arbitrators will be chosen). The legal place of arbitration shallbe Ghana. The language to be used in the proceeding relating to arbitrate shall be English. Thegoverning law for the international contracts of the company shall be substantive EnglishLaw.”REASON FOR THE CHOICE OF LAWHistorical Importance and InfluenceEnglish law is preferred governing law for international contracts and for businesstransactions on a worldwide level. In the case where international aspects are involved in thetransaction, it is necessary to set out in a contract both the governing law as well as thejurisdiction. Jurisdiction can be specified as the name of the country’s law which will govern thecontract and in which country disputes arising relating to the contract will be finally decided(Cuniberti, 2013). Many countries retain the system of common law as for development andinterpretation of rules English law is taken for guidance and unusual issues. Thus, as the law iswell-known, reputable jurisprudence and well- developed; the same has been chosen.HM Courts and Tribunal Service
Governing Clause for International Commercial Contract_2

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