Amicable composition: An excellent institution for reshaping the contract in the face of changing economic circumstances
Dr. Aboubakar Saidou
The parties to an agreement very often voluntarily omit to regulate any problem concerning the change of economic circumstances and prefer to place their contractual fate in the hands of a third party whose decision will have binding force. They will then play the passive role of observer of the work done by the said third party in the search for a settlement of the conflict between them. This delegation of power is done by virtue of an arbitration clause. The arbitrator is a private judge whose powers are derived solely from the will of the parties. His mission is therefore to settle any dispute arising from the performance of the contract. It is desirable, from the point of view of the moralization of the commercial relations, that he can rule in amicable composer. It is thus advisable to emphasize the practical and theoretical advantages of the insertion of a clause allowing the arbitrator to rule as amicable composer in the face of the upheaval of the contractual economy. It is in this that the amiable composition constitutes an original institution having well determined powers in the settlement of the conflicts between contracting parties.
Dr. Aboubakar Saidou. Amicable composition: An excellent institution for reshaping the contract in the face of changing economic circumstances. International Journal of Multidisciplinary Research and Development, Volume 9, Issue 11, 2022, Pages 1-7