Webinar on International Commercial Agreement
Theme: Principles of Commercial Arbitration Law
Event Date: 27th February, 2025
Event brief description
On the day of 27th of February, 2025 Galgotias University hostel a Webinar on International Commercial Agreement empowered by Bal Uday and School of Law. The event, held under the theme "Principles of Commercial Arbitration law" emphasized the essential considerations when dealing with Commercial Contracts in the international realm with an emphasis on Arbitration as a form of Alternate Dispute Resolution.
Advocate Mr. Udit Chauhan, ACIArb. (UK), Partner at Jade Lex, with nearly a decade of experience in litigation, arbitration, and corporate advisory joined us and provided us with an insight into International commercial contracts and Commercial Arbitration Law.
Event Detailed Description
This webinar aims to provide an in-depth understanding of International Commercial Agreements, their theoretical foundations, legal implications, and comparative perspectives across jurisdictions. It is designed for legal professionals, academicians, law students, and business executives engaged in cross-border transactions.
Understanding Commercial Agreements
Commercial agreements form the backbone of international trade and business relations. These agreements set forth the rights, obligations, and liabilities of parties engaged in commercial transactions. There are two main considerations that arise when discussing commercial contracts that is where will the dispute be heard and what law governs the contract. Understanding key elements such as offer, acceptance, consideration, and enforcement mechanisms in the international context is crucial for drafting effective contracts that align with international best practices. Further the comparison among various countries for what elements form a valid contract was used to understand the basis of multi-jurisdictional issues.
Employment Agreements in an International Context
Employment agreements, as a subset of commercial agreements, play a pivotal role in global business operations. They regulate employer-employee relationships, covering terms related to remuneration, benefits, dispute resolution, and termination clauses. The webinar will examine the significance of employment contracts within the context of cross-border employment, jurisdictional challenges, and international labour standards.
Theoretical Foundation of Contract Law
The session will delve into the foundational principles of contract law, including will theory, reliance theory, economic theory and relational theory. These theories help explain the evolution of commercial agreements and their practical application in contemporary business transactions. Most importantly we focused on the Critical Legal Theory which is most applicable to the real world.
Critical Legal Studies and Contracts
Critical Legal Studies (CLS) challenges traditional contract law principles by questioning the role of power dynamics, inequality, and social justice in contract formation and enforcement. The webinar will explore how CLS critiques contract law’s perceived neutrality and its impact on weaker parties in commercial relationships, particularly in developing economies.
Comparative Perspective: Common Law vs. Civil Law
A comparative analysis of Common Law and Civil Law approaches to contract enforcement and interpretation is essential for understanding global commercial agreements. Key differences include:
- Common Law Systems (e.g., UK, USA, India): Emphasize judicial precedents, freedom of contract, and strict adherence to the parties’ intent.
- Civil Law Systems (e.g., France, Germany, Japan): Rely on codified statutes, good faith principles, and judicial intervention to ensure fairness and equity. This section will provide insights into how these differences impact contract drafting, dispute resolution, and enforcement in international transactions
The contradiction between various legal systems in the context of civil and common law was also delved into.
Department Name – School of Law
Event Outcome
This webinar will equip participants with a robust understanding of international commercial agreements by integrating legal theory with practical applications. Attendees will gain insights into contract formation, key clauses, jurisdictional challenges, dispute resolution mechanisms, and the role of international legal instruments in regulating global trade with reference to real life cases and easy understanding of the practical application of the aforementioned insights.
Join us for this engaging and informative session to deepen your expertise in international commercial law and navigate complex cross-border agreements effectively
