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The principle of autonomy of parties governs international contracts from "summary" of Modern Law of International Trade by Ajendra Srivastava
In the realm of international trade, the principle of autonomy of parties plays a pivotal role in governing contracts. This principle essentially empowers parties engaged in an international contract to exercise a significant degree of freedom in negotiating and determining the terms and conditions of their agreement. It signifies that parties have the autonomy to decide upon the specifics of their contractual relationship, including the rights and obligations of each party, the scope of the agreement, and the mechanisms for dispute resolution. This principle is reflected in the doctrine of freedom of contract, which underscores the importance of allowing parties to freely negotiate and enter into agreements based on their respective interests and preferences. It recognizes the unique needs and circumstances of each party and affirms their right to tailor their contractual arrangements accordingly. By upholding the principle of autonomy, international trade law promotes a flexible and adaptive approach to contract formation that is responsive to the diverse and ev...
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