American Bar Association
 
Uniform Commercial Code: International Commercial Law Subcommittee

ABA Section of Business Law


Uniform Commercial Code:
International Commercial Law Subcommittee


Mission Statement




The Subcommittee on International Commercial Law studies and comments on pending transnational commercial law projects. These projects often involve the overlay of U.S. and foreign law resulting from cross border contacts and the choice-of-law and jurisdictional issues raised by international transactions. The Subcommittee attempts to take both an outbound and in-bound perspective, considering problems which result from the application of the UCC to cross border operations as well as formulating an overview as to foreign law approaches to commercial law issues. The two poles of international commercial activity (cross border sales and commercial lending) require the Subcommittee to cover a wide range of international law, from the CISG to specialized financial treaties. We have even recently branched out into some traditional "litigation" issues, such as forum selection, to the extent they impact on the drafting of international commercial agreements.

Within this context, the Subcommittee has studied and commented on pending transnational commercial law projects to update international commercial law, including, e.g., projects sponsored by the United Nations Commission on International Trade Law (UNCITRAL) and the International Institute for the Unification of Private Law (UNIDROIT). Committee members have reported on The Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary (the "Hague Securities Convention") and the UNIDROIT Convention on Substantive Rules Regarding Intermediated Securities designed to interface with the Hague Securities Convention.


Report of the Subcommittee Chair

The International Commercial Law Subcommittee has been working for some time on a survey of G-20+ jurisdictions on their choice of law and substantive rules concerning predominantly U.S.- based pledges of deposit accounts, directly-held securities and securities held through intermediaries. A copy of the current version of the survey form is attached below.

In August 2012, at the ABA Annual Meeting in Chicago, David Billington and Michael Kern from Cleary Gottlieb Steen & Hamilton's London and Frankfurt offices gave presentations on the UK and German law responses, respectively, to the Survey. In April 2013, at the Business Law Section Spring Meeting in Washington, Teun Struycken from NautaDutilh N.V. provided responses for the Netherlands, Belgium, and Luxembourg. The materials for these five jurisdictions are attached below. A response addressing Canadian law is currently in progress. The subcommittee is hoping to have several more jurisdictions addressed over the next year; volunteers would be welcome to work on surveys for Argentina, Australia, Bermuda, Brazil, Cayman Islands, China, European Union, France, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, Singapore, South Africa, South Korea, and Turkey.

Please contact us if you would like to contribute to this Survey. Once completed, the Survey will provide a very useful foundation for lawyers seeking preliminary guidance on security interests in the applicability of non-U.S. law to deposit accounts, directly-held securities and securities held through intermediaries.

Join Us


Leadership

Sub-Committee Chairs:

Haver, Peter
Schnabel, Timothy

Committee Roster  


Completed Questionnaires


Other Materials


Materials


Useful Links

U.N. Commission on International Trade Law (UNCITRAL)

International Institute for the Unification of Private Law (UNIDROIT)

Hague Conference on Private International Law


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Listserve

In order to send a message to the listserve, send a message to the email address below. You must be a member of the Committee to successfully send a message to the listserve.

BL-UCCINTERNATIONAL@mail.americanbar.org

In order to access the listserve archive, please click here.


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Modified by Graham Hunt on June 11, 2014

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