In the meeting of March 30, 2022, the Federal Council opened a consultation (which will end on July 7, 2022) in relation to the Federal Decree that would acknowledge Switzerland’s ratification of the Hague Convention on choice of court agreements.
The Convention helps determining jurisdiction in the event of international disputes relating to civil and commercial matters, as well as regulating cross-border recognition of judgments.
The Federal Council’s measure hence aims to increase legal certainty, also strengthening the Swiss financial market by positioning it as the seat of international courts.
In fact, several cantons are considering the establishment of courts specialised in international commercial disputes, the decisions of which, following the ratification of the Convention, would be recognized and enforced abroad.
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