Global position of English and Welsh law
Our research evaluates the position of London’s courts and arbitration centres compared to dispute resolution facilities in other jurisdictions, including New York, Singapore and Hong Kong.
Key findings from our 2022/3 research include:
- London is the most attractive centre for commercial litigation and international arbitration, particularly in the maritime sector
- English law governs trillions of pounds in over-the-counter (OTC) derivatives transactions and metals trading
- UK legal services exports increased by almost half a billion to £6.648 billion in 2021 (ONS data)
(An OTC derivative is a financial contract between two parties with minimal intermediation or regulation.)
How to use this report
Our report is an objective, neutral and evidence-based assessment of the global position of English and Welsh law.
It’s also a practical tool that you can use to inform your clients on the widespread use of English law and London’s commercial dispute resolution centres.
It shows how English law facilitates business and investment as the industry standard for international transactions across various sectors, including maritime and insurance
Share our report with prospective clients to highlight the benefits of using English and Welsh law to achieve their goals.
Commercial dispute resolution
London is a global legal centre for international commercial disputes, with particular dominance in the maritime sector.
English law is chosen by commercial clients above other governing laws, with many choosing the London Commercial Courts (LCC) and/or the London Court of International Arbitration (LCIA) over competing courts and arbitration centres in other jurisdictions.
Almost half of contested trials in the London Commercial Court were completed in just four working days between October 2021 and September 2022.
Economic value of English law
English law facilitates a huge amount of economic activity as the governing law of choice for international transactions across various sectors, including financial services and commodities trade.
The value of the UK’s legal services exports continues to rise on an annual basis, resulting in a growing trade surplus (value of exports compared to imports).
In 2021, the UK’s trade surplus for legal services reached £5.3 billion, compared to £4.6 billion in 2020.