Part 2 National and Regional Reports, Part 2.4 Europe: Coordinated by Thomas Kadner Graziano, 43 European Union: European Union Perspectives on the Hague Principles »
Thomas Kadner Graziano, Francisco Garcimartín, Geert Van CalsterFrom: Choice of Law in International Commercial Contracts
Edited By: Daniel Girsberger, Thomas Kadner Graziano, Jan L Neels
This chapter evaluates European Union perspectives on the Hague Principles. The Rome I Regulation on the law applicable to contractual obligations is the most important instrument for determining the law governing international commercial contracts in the EU. It is a legislative act of the European Union and directly applies in all Member States of the European Union except for Denmark. For many issues, the Rome I Regulation is in conformity with the Hague Principles. Where the Hague Principles cover issues that have not yet been explicitly addressed by the Rome I Regulation, such as choice of law clauses in standard forms in Article 6(1)(b) of the Hague Principles, the European legislator may very well take the Hague Principles into consideration when amending the Regulation. In fact, the European legislator regularly takes inspiration from international and foreign law when legislating, amending the law, or covering new issues. In academic commentary, it has been suggested that the next revision of the Rome I Regulation shall, for certain issues, indeed take inspiration from the Hague Principles.