Why Care for Governing Law and Jurisdictions in International Contracts?
Harish Suryavanshi, Corporate Counsel, Tech Mahindra Limited, India
Harish Suryavanshi offers an elegant path through the relevant considerations when drafting choice of jurisdiction and ADR clauses in cross-border contracts. In addition to explaining the pros and cons of exclusive jurisdiction or arbitration clauses, he also supplies a helpful list of local laws that typically are very difficult to exclude.
Due to growing cross-border transactions, IT & allied services outsourcing contracts, and the rise in international M&A, parties to commercial contracts shall be well advised to consider governing law and jurisdiction issues carefully.
One of the common issues in international contract disputes occurs where the parties are not just located in different countries but the interpretation of jurisdiction clauses and choice of law clauses by the local courts. These clauses set out the parties' election of the law that is intended to apply to the contract and the location that disputes under the agreement will be determined.
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