Who has the power to solve a breach of commercial contract – European Union, Ukraine or Russia?

Abstract

With the increasing of globalization, more and more contracts are concluded between companies from different countries. So, in this situation, and increases the number of breaches of contracts. This trend was the reason for writing this article, which aims to find out whose powers allow settling disputes related to the breaches of contracts, and the extent to which such disputes can be resolved. In preparation was analyzed the experience of Ukraine, Russia and the European Union, in particular the United Kingdom (common law) and France (Civil law). It was found that an important role is played by the parties to the dispute, but it also depends on the phase of the process. Also, important external key figures are a judge or arbitrator. The powers of each of the parties depend on local laws, as well as the accepted agreement. Therefore, breach of the contract is one of the major challenges that may face the contracting parties. To further investigate the interesting question of which party receives benefits based on the law of any country included in the study.