International Commercial Litigation With Reference To EU Law and Traditional Common Law Rules

International Commercial Litigation With Reference To EU Law and Traditional Common Law Rules

Introduction

The main purpose of this paper is to make an analysis on the connection of jurisdictions and applicable law in the context of international commercial litigation with reference to European Union law and traditional common law rules. Trends in the development of the modern world cannot be accurately determined without taking into account the experience gained by European countries during the formation of the integration processes in Europe. In a globalized international economy, the strengthening and expansion of international economic relations more urgent becomes the problem of combining the efforts of European nations is possible to create more favorable living conditions for their citizens, international trade, science and culture.

Discussion

One of the key factors for success of European integration is the law of the European Communities and the Union. Some authors have even claimed that "the process of integration is largely due to specific features of Community law. Indeed, the right which has arisen with the creation of the Communities, it was not only a tool for design and integration advances security, but also the most important system-forming factor, contributing to the deepening of integration processes. With the formation of the European Union (EU) dramatically expands the scope of integration structures and subject matter jurisdiction of the EU law. In this regard, we can say that the EU law affects the course of the integration process, and the latter, in turn, determine its content. It seems that the importance of EU law as a factor of integration is, first, in that it consolidated the achievements of the Community and thus made ??irreversible process of European construction. Secondly, as a matter of fact "live", dynamic organism, reflecting the state of political equilibrium at this stage of development of the Community, it continues to regulate the social relations on the European continent. Today, many of the provisions of EU law given the widest interpretation by the Court of European Communities (hereinafter - the Court of Justice), are formed and reinforced the basic principles of qualification and performance of EU law, there is a consistent judicial practice of their application, and in EU law uses the concept of "implied powers". As a result, one can observe the emergence of independent branches of EU law, business law, as the EU, EU competition law, environmental, banking, insurance law and the EU, etc. EU law is gradually applied to the relations that had previously governed solely by national law. Regulatory impact of EU law for more private law relations, in particular, constitutes the relationship between large business entities. A similar relationship in which parties enter, trying the most to defend their own interests and to maximize profits, naturally give rise to commercial disputes. In legal terms they can relate to improper execution of the contract, payment for services provided by the parties and the validity and interpretation of the treaty ...