Model Clauses For Contracting In Asia

The Asian Business Law Institute (ABLI) recently released Model Clauses for Contracting in Asia ("Model Clauses") under its Contract Laws in Asia project.

Increasingly, parties to a commercial contract are based in different jurisdictions whose contract law, source of contract law, legal labels, languages, etc. all vary. As a result, the choice of law made by the parties will often result in one of the parties entering into a contract governed by the laws of a jurisdiction with which they are not familiar. Further, if the parties choose a third law (i.e., a neutral governing law) to govern their contract, this may result in both parties being unfamiliar with the laws that govern their contract.