Since the late 20th century, the harmonisation of private law, in particular contract law, has been an issue in academia and for international organisations. Until recently, Latin America has been absent from this trend. Thus, the degree of formal harmonisation between Latin American legal systems, especially in private law, is considerably low. Nevertheless, in the last few years, some academic initiatives have been launched. The most recent is the project called Latin American Principles of Contract Law (Principios Latinoamericanos de Derecho de los Contratos - PLDC). This project is led by the Chilean Fundación Fernando Fueyo, attached to Diego Portales University. Academics from Argentina, Brazil, Colombia, Paraguay, Uruguay and Venezuela have joined the project. National reports based on a questionnaire method were published in the book ‘El derecho de los contratos en Latinoamérica’ (2012). A preliminary draft of the PLDC has been published in the Spanish Anuario de Derecho Civil (t. LXVII, 2014, I) and the final text is expected by the end of 2014.

The main research objective is twofold: to examine the nature and purposes of the eventual harmonization of contract law in Latin America; and to analyse and evaluate the draft provisions of the PLDC. Using the comparative law method, the project will analyse and compare the PLDC with similar initiatives, particularly the academic and institutional process of harmonisation of private law in the European Union.

The expected result of the research is to provide theoretical and empirical foundations for the harmonisation of Latin American contract law, and a comparative evaluation of the main subjects included in the text of the PLDC.