New Kid on the Block: An Introduction to the Hague Rules on Business and Human Rights Arbitration

Authors

Bhavya Mahajan, Mumbai Centre for International Arbitration (India)

Abstract

In the medieval European states, Lex Mercatoria, literally "Merchant Law," was a prevalent custom, which developed out of the norms and needs of the market and influenced the transborder trade practices among merchants. For redressal of trade-related disputes, arbitration was the popular method and the merchants elected their own judges in the courts of arbitration that they established. These courts developed a reputation for swift resolution of disputes using high moral standards. Non-compliance with practiced norms, or with the arbitral decisions of the courts, would solidify pariah status for the defaulting merchant in the trading community. Gradually, with the introduction of various national (and some international) laws during the nineteenth century, the custom of Lex Mercatoria started to fade away. However, its relevance in today's times, where businesses thrive on good relations with other stakeholders in society, demands our attention to work on a similar, more specialized system that transcends national laws and presents a set of private transnational norms.

Disciplines

Civil Law | Civil Procedure | Conflict of Laws | Contracts | Dispute Resolution and Arbitration | International Law | Law

Recommended Citation

Bhavya Mahajan, New Kid on the Block: An Introduction to the Hague Rules on Business and Human Rights Arbitration, 22 Cardozo J. Conflict Resol. 221 (2021).
Available at: https://larc.cardozo.yu.edu/cjcr/vol22/iss2/4