Standards, Contracts and Codes
Edited by Marta Cantero Gamito and Hans -W. Micklitz
Chapter 4: EU rules and values, transnational legal ordering, and international arbitration
This chapter analyses the implications of the changing interplay between arbitration practices and EU policies, rules and standards that apply to arbitration beyond the EU marketplace. It is commonly assumed that the EU’s recent focus on arbitration is a response to changes in arbitration practices. In contrast, my hypothesis posits that arbitration is proactively used by the EU – in particular, the European Commission (EC) – as a tool of transnational legal ordering that promotes EU law beyond its borders. There are two main fields where the EU has recently promoted arbitration: international trade and investment law (broadly referred to as international economic law) and EU-regulated markets, including crossborder consumer redress. The aim of this chapter is to (1) present a summary account of EU policies and rules on arbitration in these fields, (2) demonstrate the increasing power of the EU in governance and the standardization of dispute settlement in international economic law and (3) examine the effect of such power on the development of European regulatory private law beyond EU borders.
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