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date: 04 December 2020

Abstract and Keywords

Transnational regulation, both private and public, requires compliance instruments different from those deployed in domestic regulations. These policy tools are one key facet of transnational administration. The chapter addresses three fundamental questions. Which global standards should be monitored? Who should monitor compliance with global standards? How should compliance with global standards be monitored? The unit of analysis for compliance monitoring should be global supply chains that adopt compliance programmes applied to internal business units, subsidiaries, and independent suppliers, operating across different jurisdictions. The objective of effective compliance monitoring is to minimize costs of governance and transactions, and maximize effective oversight. Monitoring compliance of business units within large corporations and independent suppliers calls for different yet coordinated instruments including corporate, employment, and contract law. The structure of the chains, their composition, and the allocation of power significantly influence the architecture of compliance and the mix of hierarchical, peer, and delegated control.

Keywords: monitoring, compliance, contracts, global supply chains, transnational private regulation, standards

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