Abstract What is the place of voluntary self-regulation in today’s international trade? Can we continue to understand the contract in its relation to the historical unity of state and law considering the massive transformation of the closely related dichotomies between national and international, public and private, and hard law and soft law? What is the role of corporate social responsibility (CSR) in the contemporary debate over global value chains (GVCs)? This paper addresses on the role of law in societal challenges arising from the kaleidoscopic view of globalization. GVCs operate through interdependent contracts and in relation to multiple normative orders that impose moral, economic, and legal obligations. This paper seeks to re evaluate the role of contract law in its relation to sustainable and ethical global trade. The perspective it develops prioritizes the interaction between extra-legal considerations in contract law and the momentum of CSR as well as the historical dynamics of law, economics, and politics.