The Evolution And Codification Of Lex Mercatoria In Modern International Arbitration Frameworks: A Critical Analysis Of Recognition And Enforcement Mechanisms
- IJLLR Journal
- Jun 1
- 1 min read
Jinesh M, Assistant Professor (Law), School of Law (VISTAS), Chennai
ABSTRACT
The historical evolution and current use of lex mercatoria in international commercial arbitration frameworks are examined in this research paper. From medieval trading practices to its current form as a transnational legal order that coexists with national legal systems, it charts the development of merchant law. The UNIDROIT Principles, the UNCITRAL Model Law, and the New York Convention are the main subjects of the study's critical analysis of how much lex mercatoria has been acknowledged, codified, and incorporated into contemporary arbitration procedures. The study assesses the efficacy of enforcement mechanisms when arbitral decisions are based on transnational commercial principles rather than national law by comparing jurisdictional approaches across civil and common law traditions.
The results show enduring conflicts between national courts' sovereignty concerns during enforcement proceedings and the autonomy demanded by lex mercatoria proponents. By offering a framework for comprehending how non-state norms acquire legitimacy in the increasingly complicated field of international commercial dispute resolution, the study adds to the conversation on legal pluralism.
