The limits of self-regulation of the parties of international commercial agreements
The purpose of this article is to consider the concept of “self-regulation” in relation to international commercial agreements and to identify its limits. The paper argues that self-regulation is associated with freedom of contract when formulating the terms of international commercial contracts, as well as with the obligation of the parties to these contracts to follow the rules formulated by them. The limits of self-regulation are peremptory norms of applicable law, norms of direct application and a clause on public policy.