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Use of UK/US common law contract law in international business contracts in Southeast Asia Empirical Evidence from Telecoms & Engineering |
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| รหัสดีโอไอ | |
| Creator | Mark Rendon |
| Title | Use of UK/US common law contract law in international business contracts in Southeast Asia Empirical Evidence from Telecoms & Engineering |
| Publisher | AJMI |
| Publication Year | 2559 |
| Journal Title | ASEAN Journal of Management and Innovation |
| Journal Vol. | 3 |
| Journal No. | 1 |
| Page no. | 68-84 |
| Keyword | International contracts, Southeast Asia, ASEAN, Common law, Civil Law, business development, corporate development, negotiation, UNIDROIT |
| ISSN | 2351-0307 |
| Abstract | Most international cross-border commercial contracts in Southeast Asia are today written on the basis of English or American contract models & practice, using US (mostly New York state) UK or other Asian common law jurisdiction law (e.g., Singapore/Hong Kong) as the governing law. This practice has become pervasive and is irrespective of whether one or both of the parties to the contract is domiciled in a Common Law or Civil Law country or not. This trend has been documented globally, and discussed in the literature, but has not been definitively studied in the context of Southeast Asia (Cuniberti, 2013). These commercial contracts normally originate from the party domiciled or residing in the common law jurisdiction, and despite changes negotiated from the opposing party in the Civil Law jurisdiction, retain their common law characteristics of contract law. This paper asserts that such law has become the de facto law of international business contracts in Southeast Asia, as opposed to civil law. Recent efforts have witnessed the Singapore-led creation of a new Institute which aims to harmonize ASEAN (and in fact, more broadly, Asian) commercial contract law (Soon, 2015). However, little published academic research has tracked actual practice in corporate firms in Asia over the past decade or more. This article validates the theory that firms in Southeast Asia and in many parts of ASEAN largely use Common Law contract law in international commercial contracts by tracking 5 case studies over a recent span of 13 years. |
