Enforcing Contracts in Transition Economies: Contractual Rights and Obligations in Central Europe

This important and incisive new book examines contractual enforcement mechanisms in central and southeastern Europe and the Commonwealth of Independent States. The volume is an outcome of the cooperation between the European Bank for Reconstruction and Development (EBRD), and the British Institute for International and Comparative Law (BIICL). EBRD and BIICL have facilitated both formal and informal dialogue and cooperation on contract enforcement issues. The rich and informed debate between practitioners and academics, together with the representatives of international organizations, policymakers and judges is reflected in this book. The book addresses the role of the rule of law in development and protection of contractual rights in transition nations of central and southeastern Europe and Commonwealth of Independent States. Also examined is the role of courts in these countries, along with their structure, independence and integrity. The book discusses the practical aspects of contract and obligations enforcement, and the framework they should follow. Regarding arbitration or alternative dispute resolution, who are the main actors and what is the appropriate script? The book highlights that after more than thirteen years of transition, contract enforcement has not reached a stage where it provides the required basis for economic development. It requires sustained attention from national governments, regional bodies and the international community. The book concludes by examining the appropriate way forward. The enforcement of contractual rights and obligations is a condition for economic development, and this book should appeal to a wide readership ranging from academics and practitioners to policy makers and the judiciary in both developed and developing economies.