The utility of the rescission clause in the settlement of disputes arising from international trade contracts

Abstract

Starting from the opportunities that the creditor of an obligation has in order to settle his claims by means of commercial arbitration, as an alternative to court under common law, with a view to punishing in the most effective way the failure of the obligation by the borrower reveals the necessity to introduce the rescission clause in international commercial contracts governed by foreign law. This paper aims to emphasize the practical utility of the institution of the rescission clause in the light of the new Civil Code regulations, in whose presence the role of the court is entirely removed as far as the decision statement is concerned.