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%     /8 ` ` ̙33` 333MMM` ff3333f` f` f` 3>?" dd@,|?" dd@   " @ ` n?" dd@   @@``PR    @ ` ` p>>0  q(    6q P  ['Klikk for redigere tittelstil i malen( (  08t   VKlikk for redigere tekststiler i malen Andre niv Tredje niv Fjerde niv Femte niv)     W  0y ``  >*  0~ `   @*  0 `   @*H  0޽h ? ̙33 $Standard utforming0 ~v(    0P  P    P*    0p     R*  d  c $ ?    0;  @  VKlikk for redigere tekststiler i malen Andre niv Tredje niv Fjerde niv Femte niv)     W  6HC `P   P*    6DI `   R*  H  0޽h ? ̙33 080(  8B 8 s *޽h ? ̙33 )!@ (     <pP `Lex Mercatoria,  <4 A presentation at the ELA seminar: Contracting in Europe in Tromsoe, 5 March 2003 by Associate professor, dr.juris Petri Keskitalo The faculty of Law, University of TromsoeD(%":     "&  c Ahttp://ws.uit.no/websim2/getfile.php?SiteId=1&PageId=362&FileId=49&Size=thumblogoWeb070_P H P !0H  0޽h ? ̙33 P ;(    <0/ ,$D 0 z1) What is it?.7  <84&  ,$D 0 3) How to use it?H8  <`8 6 ,$D 0 4) When to use it?HW  <>P J,$D 0 2) Where do we find it?b   <DpP `Lex Mercatoria,/   <\H  ,$D 0 #5) What advantages has it to offer?$$.H  0޽h ? ̙33    ` (   s  <|P 31) What is the lex mercatoria (LM) or law merchant?44|  0r-)9 @`Z ( 0䞌 P,$D 0 - Three alternative  suppliers of compilations of the LM: i) UPICC (UNIDROIT Principles of International Commercial Contracts ii) PECL (Principles of European Contract Law) iii) TLDB (The CENTRAL database on Transnational Law)>-'!0>D!0!0 @`H ( 0޽h ? ̙333=  ,e(  ,G , < !3) How to use the lex mercatoria?4"b* , 0@@,$D 0 6- Basically there are two alternative uses for the LM:.7-6 @`, , 0@@ ,$D 0 Heither by the contract parties, arbitration tribunals or national courtsI-I @`4 , 0@ @@: ,$D 0 @b) LM as a source for gap-filling regarding contracts or the law.A-> @`  , 0D @@,$D 0 2either by arbitration tribunals or national courts3-3 @`  , 0@@z,$D 0 *a) LM as the (partial) law of the contract.+-( @`H , 0޽h ? ̙33, _   0T (  0H 0 < "4) When to use the lex mercatoria?4#b+ 0 0̭@ ,$D 0 1Contracting parties: - at any time as they please,21n 0 0 ,$D 0 zArbitration tribunals: - when the contracting parties have so provided either by a) direct reference to LM or b) reference to general principles of international - when the contracting parties have given the arbitrator the powers of amiable compositeur or ex aequo et bono - when the procedural arbitration law makes a reference to  rules of law instead of  rule of law - when the law of the contract needs to be interpreted or gap-filledl      1$    $ # 0 0,Ō@@,$D 0 National courts: - occasionally> - @`H 0 0޽h ? ̙33 $(  $Y $ <Ҍ 35) What advantages has the lex mercatoria to offer?44 b @ $ 0$ڌ p,$D 0 V- Rules and principles that are designed for the purpose of modern international tradeWWV $ 0Hތ`,$D 0 5+- Avoidance of the conflict of laws jargon?,,   $ 0 @@ ,$D 0 v&- Higher predictability and certainty?'-' @`W $ 0V @@,$D 0 U- Lower transactions cost: a) in negotiating? b) in interpretation? c) in litigation?VV.;H $ 0޽h ? ̙33_ [S4(  4 4 <|  MTHE END B 4 s *޽h ? ̙33)0 y(  d c $    3 rQ## @   Dear...H  0޽h ? ̙330 T(  d c $    3 rV## @   JThe subject of my lecture is the lex mercatoria and during the following lecture I ll try to give you a short presentation of the the subject focusing on the following four questions. 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