The Role of International Commercial Courts
from Part II - Jurisdiction, Applicable Law and Enforcement of Judgments
Published online by Cambridge University Press: 14 April 2022
Exigencies of hyper-globalized, invariably transnational, trade have exerted immense pressure on the global legal infrastructure to produce a dispute resolution mechanism that attends to the needs of international commerce. In this chapter, it is argued that international commercial courts (ICommCs) possess structural features that allow them to fill in that lacuna. Furthermore, it is argued that ICommCs are predisposed to implement a new wave of harmonization of international commercial law, with English common law at the forefront of this effort. Harmonization of international commercial law is argued to be desirable both theoretically, but more importantly, from a practical standpoint of increasing efficiency. Through the perusal of the most recent and prominent examples of ICommCs, it is further posited that these courts, thanks to their jurisdictional reach, procedural laws, bench composition and judgment enforcement are substantially better positioned than domestic courts or arbitral tribunals to effect such harmonization.
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