The UNIDROIT Principles of International Commercial Contracts and ...

THE UNIDROIT PRINCIPLES AND MERCOSUR COUNTRIES 397
of non-legislative provisions to rule the contract – such as the Principles
–, case in which we would have a “denationalized contract”.
Article 17 of the 1994 Mexico Convention states that the expre s s i o n
“law” must be understood as the law validly accepted in a State,
with the exception of the norms regarding conflicts of laws. Thus,
the applicability of non-legislative sources such as the Principles
shall take place only subsidiarily, with the purpose of supplementing
the applicable national law or interpreting it under the light
of the international context.
The adoption of the 1994 Mexico Convention by the MERCOSUR
countries would undoubtedly have the advantage of harm o n i z i n g
the contractual conflict rules in the region. In addition, it would
clearly and safely admit the principle of party autonomy in the
choice of the law applicable to the contract, as well as the
application of generally accepted international trade law principles.
2. Arbitration – Autonomous Regulation in the MERCOSUR
At ME R C O S U R level, its member-countries signed in Buenos Aire s
(1998) two uniform arbitration conventions, which, however, haven’t
yet entered into force. The first is the 1998 MERCOSUR Agreement on
I n t e rnational Commercial Arbitration, concluded between the
m e m b e r-countries, and the second is the 1998 A g reement on
I n t e rnational Commercial Arbitration signed between ME R C O S U R,
Bolivia and Chile 39 .
These instruments constitute true international arbitration
conventions, which establish uniform arbitration rules and principles
for the signatory countries. When the 1998 ME R C O S U R
A g reements enter into force, the region will benefit from a consolidated
international arbitration regime, favoring certainty and
stability for the trade exchanges taking place within the region and
abroad 40 .
39 The mentioned Arbitration Agreements were approved by the Council of the
Common Market by means of decisions 3/98 and 4/98, respectively.
40 On the Arbitration Agreements in the Mercosul, see: Maria Blanca NOODT
TAQUELA, Arbitraje Internacional en el MERCOSUR, Buenos Aires, Ed. Ciudad
Argentina, 1999.