The recognition of judicial and judicial decisions and insolvency proceedings are governed in all relevant significant jurisdictions and the most important principles are generally recognized in leading jurisdictions. As is the case in the market, revolving loans can still be repaid at the end of the interest period, without the need for early repayment compensation. Temporary loans may also be paid in advance without the prepayment indemnity being paid at the end of the period for which fixed interest has been agreed (i.e. variable rate loans at the end of each interest period) or if, earlier, after ten (ten) years. With a few exceptions, which do not apply to non-public institutions, these rules cannot be derogated from. These rules apply only to credit agreements and not to obligations. In practice, these rules do not play an important role, as fixed-term loans exceeding ten (10) years are very rare. This volume attempts to remedy this situation by making available to the general public the results of a German-Japanese conference in 2005. Freedom of contract is a general rule for contracts under German law and agreements governed by German law are interpreted on the basis of the agreed text. If such wording (i) does not reflect the common understanding of the parties or (ii) leads to a result that neither party intends to adopt, the common understanding of the parties takes precedence. The general principle of German contract law is that the will of the parties must be taken into account, and not only the importance of the wording chosen by the parties. Mr. Grignon Dumoulin presented an interesting new case (Unamar vs.
NMB) of the Court of Justice of the European Communities (preliminary ruling) of 17 October 2013 on choice of law. The above-mentioned point should be emphasized, namely that legal systems must take decisions in their policy. These decisions are not suitable for everyone and therefore the positioning of a legal system is something that companies must develop for themselves. What the situation requires is to know what the decisions are. The result is at least that the international business world can make an informed choice between competing ideologies – which should be the case, at least until we can achieve some degree of international harmonization at hot spots, on a single ideology that is fair, just, just and that serves us best. . . .