Part 2 National and Regional Reports, Part 2.5 Latin America: Coordinated by Lauro Gama and José Antonio Moreno Rodríguez, 53 Organization of American States: The OAS Guide and the Hague Principles

Abstract

This chapter reflects on the relationship between the Guide of the Organization of American States on the Applicable Law to International Commercial Contracts (OAS Guide) and the Hague Principles. The OAS Guide has several objectives. It proposes a current statement of the law applicable to international commercial contracts for the Americas as based on the fundamental principles of the Inter-American Convention on the Law Applicable to International Contracts, commonly known as the ‘Mexico Convention’, and with the incorporation of subsequent developments in the field to date, particularly as codified in the Hague Principles. The Guide also seeks to support efforts by OAS Member States to modernize their domestic laws on international commercial contracts in accordance with international standards. It further provides assistance to contracting parties in the Americas and their counsel in drafting and interpreting international commercial contracts; and serves as guidance to judges and arbitrators, who may find the Guide useful both to interpret and supplement domestic laws, particularly on matters in international commercial contracts that are not addressed in such laws.