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They may be used for many purposes, for example as a means:
to determine the applicable rules in a dispute if the parties have chosen "transnational commercial law", "general principles of law", "the lex mercatoria" or the like;
to determine the applicable law, if, absent a choice of law by the parties, the
from the top result below
https://www.trans-lex.org/the-lex-mercatoria-and-the-translex-principles_ID8
History & Modern Evolution of Transnational Commercial Law | Trans-Lex