NEWSLETTER-2017

Importance of ICC Model Contracts as Part of Soft Law* Prof. Dr. H. Ercument Erdem Introduction ** By definition, soft law refers to generally established legal rules and principles that are not positive and not judicially binding. Soft law instruments are of a normative nature, and applied by voluntary accep- tance. Within the framework of international commercial law, soft law instruments are observed within the sources of lex mercatoria which generally comprise, among others, the general principles of interna- tional contract law, trade usages and practices, international conven- tions, model laws, uniform rules, standard contract forms and clauses, codes of conduct and arbitral awards. Among these, many codified soft law instruments can be listed, such as Trans-Lex Principles, Unidroit Principles of International Commercial Contracts, UNCITRALModel Law on International Commercial Arbitration, UN Convention on International Sales of Goods (“CISG”), INCOTERMS, URDG and, fi- nally, International Chamber of Commerce (“ICC”) Model Contracts. In the last decade, the ICC has conducted the drafting of various model contracts (“ICC Model Contracts”) for the purpose of adopt- ing rules that reflect market practices, and provide user-friendly and balanced templates for users. Below, I will first briefly explain the concept of soft law as used in international commercial law, and then analyze the position of ICC Model Contracts therein. * Article of April 2017 ** This article is based on my presentation on the same subject given at the Confer- ence on ICC Model Contracts and the Revision of Incoterms Rules held in Barce- lona, on April 19th 2017.