Hague Convention on Choice of Court Agreements: approval on behalf of the EU
On 11 June 2015, the Latvian Presidency deposited, on behalf of the European Union, the instrument of approval of the Hague Convention of 30 June 2005 on Choice of Court Agreements.
At the same time, the Latvian Presidency made, on behalf of the European Union, the declaration allowed under Article 21 excluding from the scope of the Convention insurance contracts in general, subject to certain well-defined exceptions, and a unilateral declaration stating that the European Union may, at a later stage in light of the experience acquired in the application of the Convention, reassess the need to maintain its declaration under Article 21.
The Convention will enter into force on 1 October 2015. All Member States (except Denmark) will then be bound by the Convention.
The Convention makes a valuable contribution to promoting party autonomy in international commercial transactions and to increasing the predictability of judicial solutions in such transactions. In particular, the Convention ensures the necessary legal certainty for the parties that their choice of court agreement will be respected and that a judgment given by the chosen court will be capable of recognition and enforcement in international cases.
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