Part 2 National and Regional Reports, Part 2.5 Latin America: Coordinated by Lauro Gama and José Antonio Moreno Rodríguez, 66 Venezuela: Venezuelan Perspectives on the Hague Principles
This chapter discusses Venezuelan perspectives on the Hague Principles. In Venezuela, the law applicable to international contracts depends on two main sources: the Inter-American Convention on Law Applicable to International Contracts, ratified in 1995 (the Mexico Convention), and the Venezuelan Act on Private International Law. Both the Mexico Convention and the Venezuelan Act adopt solutions that reflect the modern tendencies in the field of contract conflicts. Indeed, these instruments recognize the primacy of party autonomy and the subsidiary application of the proximity principle. The gaps of the Venezuelan Act could be filled, of course, with the solutions of the Mexico Convention. That would be welcome because no possible reform of the Act has been raised as yet. In fact, when scholars comment on the Venezuelan system of Private International Law, they analyse both the Mexico Convention and the Venezuelan Act, because, in short, the three rules of the Act reproduce, with some minor differences, the main rules of the Mexico Convention. Courts could even refer to the Hague Principles as persuasive authority.