The OHADA member states offer investors legal and judicial guarantees. From a legal point of view, the Community legislator has provided for modern rules applicable to companies, from their creation to their bankruptcy.
Of the Uniform Acts in force, three are particularly important. Firstly, the Uniform Act relating to the Law on Commercial Companies and Economic Interest Groups sets out the framework for economic activities. It provides operators with various forms of company, ranging from partnerships to joint stock companies. OHADA legislators also authorise the creation of single-person companies in the form of a SARL or SA. Secondly, to ensure the timely performance of commitments, investors may take out real or personal guarantees under the Uniform Act on Securities. Finally, the third essential Uniform Act, on which the effectiveness of the others depends, concerns the organisation of simplified recovery procedures and enforcement measures. Its implementation should enable the rapid recovery of debts and the effective enforcement of judgements (De Saba, 2005).
All the Uniform Acts adopted have the clear advantage of being mandatory and of direct application in the internal legal order of the OHADA States. Any national legislative or regulatory provision having the same purpose as the Uniform Acts is therefore repealed.
The environment created by the new business law gives investors a clear view of the law applicable to their operations. As a result, they can anticipate the risks inherent in their activities. OHADA law therefore guarantees a degree of predictability in the settlement of disputes that was previously lacking.
Ultimately, OHADA's legislative work as a whole aims to reassure investors. To the same end, the promoters of the new business law have not confined themselves to drafting legal standards. They have also sought to provide judicial guarantees as to their application.
The standardisation of the law initiated by OHADA would remain theoretical if the standards it enacts were applied and interpreted differently in the Member States. Legal unification necessarily had to be accompanied by judicial unification to guarantee economic operators the principle of equal treatment. A Common Court of Justice and Arbitration (CCJA), with diplomatic privileges and immunities, was therefore created. In practical terms, the settlement of disputes relating to the application of the Uniform Acts is, at first instance and on appeal, a matter for the courts of the Contracting States. Appeals on points of law are the exclusive domain of the CCJA, which has its headquarters in Abidjan (Republic of Côte d'Ivoire).