Drafting International Contracts: An Analysis of Contract Clauses

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Drafting International Contracts is an essential resource for anyone working in international business. It features the latest trends, fostering an understanding of how international contracts are drafted in practice.

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Product Details

  • ISBN-13: 9781571053558
  • Publisher: Brill Academic Publishers, Inc.
  • Publication date: 1/28/2007
  • Pages: 710

Table of Contents

List of Abbreviations     xv
Introduction     xvii
Letters of Intent     1
Introduction     1
Letters of Intent: Study of Cases     5
First Group: Definitive Contracts, With Particular Variations     6
Second Group: Stages in the Negotiation     13
Third Group: Letters Without Binding Effect and Clauses Excluding Liability     20
Fourth Group: Firm Agreement About Certain Particular Aspects of the Negotiations     24
Legal Considerations     30
Traditional Legal Categories     31
Specific Letters of Intent     34
Advice to Negotiators     54
Conclusion     56
Recitals in International Contracts     59
Introduction     59
Recitals in Practice     60
Frequency of Occurrence     60
Form     62
Length     63
Contents     63
Rationale for Recitals     79
Legal Implications     80
Recitals and Similar Phenomena     80
Legal Effects of Recitals to Contracts     87
Interpretation Clauses     103
Working Method     103
Different Contract InterpretationModels     105
Substantive Law     106
Evidence     114
Analysis of Interpretation Clauses in International Contracts     119
Characterization Clauses     121
The Process of Contract Determination     125
Entire Agreement Clauses     129
Heading Clauses     151
Definition Clauses     153
Language Clauses     156
NOM-Clauses (No Oral Modification Clauses)     159
Non-Waiver Clauses     163
Severability Clauses     167
Gap Filling Clauses     176
Custom, Usage and Course of Dealing     178
Good Faith and Fair Dealing Clauses     179
Conclusions     181
Best Efforts, Reasonable Care, Due Diligence and General Trade Standards in International Contracts     187
Introduction     187
Contractual Practice     188
Illustrations     188
Observations Concerning Practice     205
Analysis, Attempt at Synthesis     207
Critical Analysis     207
Attempt at Synthesis     225
Advice to Negotiators     229
Confidentiality Clauses in International Contracts      231
Introduction     231
Practice     233
General Remarks     233
Systematic Analysis of Confidentiality Clauses     239
Further Reflections and Critical Analysis     286
Confidentiality Without Any Confidentiality Clause     286
Transfer to Third Parties: Legal Aspects     287
Legality of Confidentiality Clauses     291
Confidentiality Clauses and Disclosure Under Legal Procedure     293
Effectiveness of Confidentiality Clauses     295
Advice to Negotiators     297
Penalty Clauses     299
Introduction     299
Practice     301
Analysis     301
General Considerations Concerning Practice     328
Legal Analysis     334
Penalty Clauses and Similar Clauses     335
Whether the Clause May Be Declared Null and Void or Revised     342
Combination of Remedies     346
Conclusion     349
Limitation of Liability and Exemption Clauses     351
Introduction     351
Notion     352
Comparisons With Certain Similar Clauses     355
Practice     357
Exemption Clauses      358
Limitation Clauses     360
Additional Remarks and Critical Observations     381
Problems of Validity     382
Consequential and/or Unforeseeable Damages     391
Limitation Clauses and Insurance     394
Conclusions     399
Force Majeure Clauses in International Contracts     401
Introduction     401
Practice     402
Hypothesis     402
Regime     418
Critical Considerations     439
Force Majeure and the Applicable Law     439
Force Majeure and Lex Mercatoria     441
Force Majeure, Hardship and Exemption From Liability     442
Effects     446
A Standard Force Majeure Clause?     448
Hardship Clauses     453
Introduction     453
Sanctity of Contracts and Substantial Change of Circumstances     453
Solution in Comparative Law     453
Hardship Clauses     455
Hardship and Force Majeure     456
Hardship and "Sujetions Imprevues"     457
Hardship Clauses, Index Clauses, Review Clauses, Exchange Clauses, Adaptation Clauses, Etc.     457
Hardship Clauses and Safeguard Clauses      458
Practice     458
General Observations     458
Critical Analysis of Hardship Clauses     460
Consequences     470
Establishing the Existence of the Relevant Situation     473
Grace Period     475
Procedure     475
Unilateral Clauses     486
Return to Normal Circumstances     487
Final Observations     487
"English Clauses," Most-Favored Customer Clauses and First-Refusal Clauses in International Contracts     493
Introduction     493
English Clauses     494
Definition, Economic Role     494
Concept of a More Favorable Offer     495
Proof of Competitive Terms and Conditions     497
Repercussions on the Contract     498
Procedural Matters     500
Constraints on the Application of the Clause     501
Variants of the Clause     502
Most-Favored Customer Clauses     503
Definition, Economic Role, Comparison With English Clauses     503
Comparability of Terms and Conditions     504
Proof That More Favorable Conditions Have Been Granted     506
Repercussions on the Contract     507
Procedural Matters      508
Constraints and Limits on the Application of the Clause     509
Variants of the Clause     510
First-Refusal Clauses     512
Definition, Comparison With Other Clauses     512
Economic Role     514
Provision in First-Refusal Clauses, Comparability and Verification     518
Procedure     522
A Variation: The "Savoy Clause"     523
Specific Legal Problems     524
Nature of the Role of the Independent Assessor     524
Remedies for Infringement on the Clauses     527
Validity of the Clauses With Regard to Price Determination     530
Validity of the Clauses With Regard to Competition Law     532
Final Considerations     535
Assignment Clauses     537
Working Method     537
Introduction and Definitions     538
Scope of the Chapter     539
Analysis of Assignment Clauses in International Contracts     541
General Observations     541
Headings     545
Distinction Between Transfer of Contract and Assignment of Rights     545
The Location of Assignment Clauses in the Contract     546
Relationship of the Assignment Clause to Related Mechanisms      546
Unilateral and Bilateral Assignment Clauses     547
Compulsory and Voluntary Assignment     548
Various Clauses Regulating Assignments     549
Partial Assignments     558
Consequences of the Application of the Assignment Clause     559
Warranties of the Assignor Vis-a-Vis the Debtor/Obligor and Indemnities     562
Costs Related to Assignment     563
Conclusions     563
Termination Clauses     565
Work Method     565
Introduction and Definitions     567
Scope of the Chapter     567
Analysis of Termination Clauses in International Contracts     569
General Observations     569
Headings     572
The Location of Termination Clauses in the Contract     573
Relationship of Termination Clauses to Other Contracts     573
Unilateral and Bilateral Termination Clauses     574
Nullity and Voidability     574
Condition Subsequent     576
Termination by Mutual Consent (Mutuus Dissensus)     577
Performance     577
Breach of Contract     578
Passing of a Fixed Period     581
Termination at Will      582
Objective Termination Events     583
Partial Termination     587
Consequences of the Application of the Termination Clause     588
Conclusions     595
Post-Contractual Obligations in International Contracts     597
Introduction     597
Post-Contractual Obligations: General Overview     598
Winding Up of the Past     599
Extension Into the Future     604
Post-Contractual Obligations: Common Problems     611
Express Clauses and Implicit Obligations     612
Specific Clauses, Enumeration or General Formula?     614
Problems of Lawfulness     615
Penalties     616
Parallel Survival of the General Clauses of the Contract?     616
Duration and Change in Circumstances     618
Conclusion     620
Final Observations     621
List of Members     641
Reference to Original Publications     645
Index     647
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