'More security' for international traders
Jul 30 2008
Businesses wishing to trade overseas will be offered more protection under a new European Union contract law, the government says.
In the case of cross-border commercial disputes, the Rome I regulations will clarify which party's country's law applies.
Bridget Prentice, international justice minister, says she is delighted with the news, as it will let cross-border trade continue and encourage it to grow.
She adds: 'Much of the business conducted by the UK is done by contract, and with international parties ... For these businesses and individuals, it is crucial that the law applying to their contracts is certain and predictable.'
The decision to sign up to the agreement was confirmed by ministers following a government consultation and will come into force in December next year.
Last month, the EU Commission said it would be looking into ways to improve ecommerce between member states to make it easier for consumers to get the best deals.
In the case of cross-border commercial disputes, the Rome I regulations will clarify which party's country's law applies.
Bridget Prentice, international justice minister, says she is delighted with the news, as it will let cross-border trade continue and encourage it to grow.
She adds: 'Much of the business conducted by the UK is done by contract, and with international parties ... For these businesses and individuals, it is crucial that the law applying to their contracts is certain and predictable.'
The decision to sign up to the agreement was confirmed by ministers following a government consultation and will come into force in December next year.
Last month, the EU Commission said it would be looking into ways to improve ecommerce between member states to make it easier for consumers to get the best deals.
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