Efficiency of Rules of Law in Regulation of Property Relations in International Commercial Turnover

Abstract

The article examines the essence and criteria for the effectiveness of the mechanism of legal regulation, the effectiveness of rules of law in international commercial agreements, given the distinction between the concept of «rule of law» as a mandatory rule of conduct adopted and protected by the state, and as a category covering not only certain national legal system, but also various legal regulators of non-national and non-state, international origin. It is established that ensuring the effectiveness of the rule of law is based on the need to achieve social, political, economic and other goals of its adoption, and is guaranteed by the construction of substantively and formally consistent, holistic within the relevant institution or branch of law and logically constructed legal prescription. It is proved that the complexity and variety of sources of legal regulation of international commercial agreements, the choice of the applicable law to which is based in general, indicates the inexpediency of limiting of the understanding of the construct of «rule of law» as exclusively sanctioned and enshrined by the state. In this regard, the thesis is put forward that in law-making activity it is necessary to construct provisions of new legislation on normative-legal acts and rule-making activity with awareness of needs and realities of international business, both Ukrainian and domestically located. Two ways to achieve this goal have been proposed: either by adjusting the proposed definitions of the rule of law or by establishing the scope of meaningful dissemination of the provisions of the future law on law-making activities exclusively within national borders and in relation to the Ukrainian legal system. Also, from the point of view of the effectiveness of legal regulation of international commercial agreements, it is justified that in this regard a broader and more modern understanding of legal norms, giving the parties a guaranteed opportunity to refer to general principles of law, trade customs, lex mercatoria, unified international instruments (for example, the UNIDROIT Principles, INCOTERMS), etc. should be implemented.