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Codification Of The New Lex Mercatoria Through The Internet: The TransLex Principles At

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Chapter Summary

The New Lex Mercatoria (NLM) theory transcends the boundaries of the traditional theory of legal sources and accepts that law may develop 'bottom-up', i.e. out of the contract practice, customs and habits of international business instead of 'top-down', i.e. through the democratic authority of domestic legislatures. At the Center for Transnational Law (CENTRAL) at Cologne University, a research team has merged the two ideas-the transnationalization of international business and the Open Access environment of the Internet combined with modern database technology-into a new concept, a web-based platform for the 'Creeping Codification' of the NLM, the 'TransLex Principles' at The Creeping Codification has been the subject of comparative academic research. The list reproduces all those rules and principles of the NLM as black-letter law which have been accepted in international arbitral and contract practice together with comprehensive comparative references.

Keywords: creeping codification; New Lex Mercatoria (NLM); Translex Principles; transnational commercial legal system;



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