Boilerplate Clauses International Commercial Contracts And The Applicable Law

With the aim of creating an autonomous regime for the interpretation and application of the contract, boilerplate clauses are often inserted into international commercial contracts without negotiations or regard for their legal effects. The assumption that a sufficiently detailed and clear language will ensure that the legal effects of the contract will only be based on the contract, as opposed to the applicable law, was originally encouraged by English courts, and today most international contracts have these clauses, irrespective of the governing law. This collection of essays demonstrates that this assumption is not fully applicable under systems of civil law, because these systems are based on principles, such as good faith and loyalty, which contradict this approach.

The book verifies the impact of national law and transnational rules on international contracts, particularly those with an arbitration clause.

"A lot of people when drafting an agreement will concentrate on the core commercial terms, rather than the boilerplate clauses. Some see the word "boilerplate" as referring to "unimportant" contract terms. This is very dangerous as a failure to consider all the provisions of a commercial agreement can have serious consequences. Often these consequences will come when it is too late to do anything about the contract terms, ie after the agreement is signed. A boilerplate clause sometimes deals with important operational issues such as the law of the contract or how notices may be sent. On other occasions, the clause deals with commercial issues that may not seem important, until a problem arises. For example, a force majeure clause only becomes significant if a party cannot perform its obligation due to circumstances beyond their control with such circumstances arising rarely, but when they do the force majeure clause comes into its own. A-Z Guide to Boilerplate and Commercial Clauses guides the user through each clause, explaining its purpose, considering its relevance in an agreement, discussing drafting issues and providing illustrative examples. The legal commentary and practical guidance helps the user to better understand the legal framework underpinning a boilerplate clause and how the courts are likely to view boilerplate and commercial clauses in the event of a dispute. For ease of reference the clauses are arranged in alphabetical order ranging from Acknowledgements to Warranties and are laid out in a modern, clear and accessible format. A set of typical boilerplate terms as they might be found in a commercial contract is included as an appendix. Since the third edition, major developments in case law and legislation have resulted in the revision of existing clauses and the development of new standard clauses. The book comes with an electronic download of the clauses. On purchase, you will be provided with a code and a web link from which the clauses can be downloaded in a generic format such as *.doc which will be compatible with all operating systems."

Verifies the impact of national law and transnational rules on international contracts, particularly those with an arbitration clause.

* Examples are given from "real life" business situations * Practical information and "Golden Rules" on what to do and what not to do * Plain English explanations of legal terms * Helpful resource for corporate managers This book will familiarize the reader with the look and feel of particular contract clauses (often called boilerplate clauses) that are important in commercial contracts. In negotiations, some executives will only scrutinize the commercial or "deal" terms of the contract. The rest is usually left "for the lawyers to sort out." However, the boilerplate clause will usually govern or regulate the other commercial or "deal" clauses. They play a vital part in the contract. It is only through the process of familiarization that you can begin to understand their effects. The important thing is to be able to identify these clauses and to understand what they are trying to achieve by their inclusion in the contract, which will place you well ahead of most other business executives in this area.

This title provides up-to-date, practical drafting guidance on the purpose and effect of a wide range of boilerplate clauses in common use. It also covers a selection of other contract clauses frequently encountered in many types of commercial agreement. The book includes: a step-by-step commentary; examples of best practice in different situations; detailed notes on each type of boilerplate clause; relevant precedents in full; statutory definitions. For ease of reference, the clauses are arranged in alphabetical order. For quick application of the drafting principles, a disk containing the full text of all clauses and precedents is included free with the book.

Every manager from the CEO down needs to have a basic understanding of commercial contracts and their ramifications and this publication will help them spot potential contractual negotiation issues before they become a problem. In the event of a lawsuit it will also help them work more effectively with their lawyers.