All international subjects acting on the international scene are obliged to respect generally accepted norms and basic principles of international law. The basic acts containing these norms on which the international legal system primarily relies are international agreements, whether contracts concluded between states and / or international organizations, bilateral or multilateral. In that respect, starting from the position of international agreements in the generally accepted hierarchy of international law sources, this paper analyses the role of international agreements and the importance that they, as the basic instruments of regulating international relations and cooperation among contemporary subjects of international law, have in the international legal system. The aim of this paper is to highlight the manner and consequences of the influence on the legal process in this field, given the legal nature of the international agreements impact in the context of varying international relations, under the influence of a omnipresent globalisation.
In the modern world, great attention is paid to integration processes as an imperative for many world regions, where within these regions countries join in order to exchange comparative advantages and strengthen their economic positions within the integrated area, as well as outside it. The reasons and motives are more, everyone sees their chance to boost economic power, while underdeveloped countries or countries in transition see their chances through the various privileges and reputations that such associations receive. However, as in all other social relations and in international, especially economic, there may be disputes, whose resolution, due to the specific nature of such relations and disputes, led to the development of a system of special and selected arbitration courts. The paper also analyzes the specific position and legal personality of international organizations, in order to apply the rules on their responsibility in resolving the disputes in question. By establishing the legal personality of international organizations in the establishment of international legal and economic relations, i.e. the ability to take on rights and obligations in their own name, their responsibility for non-respect of rights and non-fulfillment of obligations in the international law order are also established.
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