KEY EXPORT

One of England's greatest exports isn't Aston Martins. It's the opinions of judges. Specifically, judges who spend decades dealing with nothing but immensely complicated commercial disputes. Their judgments are famously detailed, meticulously reasoned and internationally respected. Losing parties may not like the result, but you’ll never hear them complaining that the judge didn't grasp the issues.

JUDGMENT ENFORCEABILITY

English judgments travel well. Thanks to conventions, treaties, reciprocal enforcement arrangements and widespread respect for English commercial law, judgments and arbitral awards are often comparatively straightforward to enforce internationally. And for international commerce, enforceability matters almost as much as winning. A judgment that cannot be enforced is like owning a yacht with neither sails nor an engine: it’ll still look impressive but won’t be terribly useful.

A DEAL’S A DEAL

English law has a remarkably straightforward philosophy. Adults make an agreement. They understand it and sign it. Those adults, therefore, should be expected to honour it. This sounds obvious. It isn't. Many legal systems are willing to rewrite bargains in the interests of fairness, public policy, economic justice or good faith. English law is less forgiving. If a contract says something unfortunate, English courts are inclined to enforce it anyway (absent illegality or manifest error). There is less appetite than in some jurisdictions to rescue parties from poor bargains. For smaller businesses this can feel harsh. For large commercial enterprises it is often viewed as a virtue.

ALL TO PLAY FOR

One aspect of litigating in England which is sometimes overlooked is the fact that the losing side normally pays the winning side’s legal fees, as well as their own. This is very different even from similar common law jurisdictions - in which each side is responsible for their own costs. While the stakes are therefore higher, this concentrates minds and ensures that going to court is a last resort.

LONDON ARBITRATION

A major reason English law dominates isn't actually the courts. It's arbitration. Particularly London Maritime Arbitrators Association [https://lmaa.london/] (LMAA) arbitration. Court proceedings are public, and those involving superyachts can generate unwanted news headlines. By contrast, arbitration is private and faster, with the resulting award usually being just as enforceable. London arbitration is the default choice for the shipping sector for this reason and is often mandated in standard international trade and charter agreements.

IMPACT OF BREXIT

One question frequently asked is whether Brexit has diminished English law's attractiveness. The answer is: less than many expected. The international appeal of English law has never depended solely on membership of the European Union. Its reputation rests upon centuries of judicial development, commercial predictability, specialist expertise and London's established legal infrastructure. There have been practical changes in areas such as reciprocal enforcement of court judgments within Europe, and parties now pay closer attention to enforcement strategy when drafting jurisdiction clauses. However, London's position as a leading centre for maritime arbitration has remained strong, not least because arbitral awards continue to benefit from the global enforcement regime under the New York Convention.

PEOPLE KEEP CHOOSING IT

Perhaps the greatest compliment to English law is this: most of the people choosing it aren't English. Every contract referring disputes to English law encourages the next contract to do the same. Every major financing agreement drafted under English law reinforces the system. Every arbitration award adds another layer of confidence. It is a classic network effect: the more people who use it, the more valuable it becomes.

Over three centuries of commercial storms, collisions, bankruptcies, shipwrecks, insurance claims, charter disputes and spectacular human ingenuity, it has acquired something that cannot be legislated into existence overnight: trust. In international commerce - and nowhere more so than in the superyacht industry - that trust is often the most valuable clause in the entire contract.