The headline of Friday’s press release was a bit too much, for my taste: “Choice of Court Convention: EU businesses receive a major boost for international trade”, the EU Commission claimed. EU Justice Commissioner Martine Reicherts hailed the Court Convention as “a great example of how justice policy serves to boost economic growth and job creation by creating the right conditions for European businesses to flourish in their trading with non-European Partners.”
I would curious to see the data and an econometric analysis to verify this claim – I tend to see this as a highly technical procedural issue. Of great practical relevance, yes, but unlikely to directly influence the behaviour of private parties. This notwithstanding, it is good to see that progress is being made with the Court Convention, or Convention on Choice of Court Agreements by its full name.
So what happened since we last posted on the issue? the EU Justice Ministers last week approved a decision ratifying the Choice of Court Agreements Convention. As a next step, following the approval by Member States, the consent of the European Parliament will be obtained. If it gives its accord, the decision will be finally adopted by the Council and enter into force in the European Union.
Here is, in a nutshell, what the Court Convention is about: The Hague Convention on Choice of Court Agreements, concluded way back on June 30, 2005, is aimed at ensuring the effectiveness of choice of court agreements (also known as “forum selection clauses”) between parties to international commercial transactions ...Zum vollständigen Artikel