LEX MERCATORIA AS AN EXPRESSION OF TRANSNATIONAL LEGAL PLURALISM

Abstract

This article examines Lex Mercatoria as a current manifestation of transnational legal pluralism. It begins with the recognition that state law no longer holds a monopoly on the creation of norms, especially in the context of international commercial relations, where soft law instruments, arbitral awards, and contractual norms are acquiring increasing importance. Based on a theoretical approach grounded in the contributions of Niklas Luhmann, Gunther Teubner, Ramon de Vasconcelos Negócio, and Peer Zumbansen, the research examines the historicity of Lex Mercatoria, its normative origins, and how it relates to state law through international arbitration. Although Lex Mercatoria introduces relevant innovations for the effectiveness and flexibility of commercial relations, it presents considerable challenges to legal certainty, democratic legitimacy, and normative coherence. These challenges can be addressed through mechanisms of integration and institutional control.