Reykjavik Accords

The Reykjavik Accords, as the name implies, was a charter that was signed in Reykjavik, Iceland, that made Private Military Corporations legal entities as international private armies. The Charter/Treaty is operated under the mandate of the United Nations, and is ratified by 191 out of the 195 countries of the United Nations, including the US, Russian Federation, Peoples Republic of China, United Korean Republic, European Federation, and the Federation of the Americas. The treaty firmly remained in place until 2061, when the accords were overridden thanks to the PMC Wars that were initiated by the SPIRE Corporation.
== History ==
The history behind the Reykjavik Accords can be traced back to the end of the Russo-American War, and the Great Collapse. Thanks to these events, and other events such as the formation of the Federation of the Americas, and the Second Energy Crisis, the United Nations Security Council was becoming an increasingly ineffective organization. As the U.N increasingly became ineffective, many other nations began looking towards other necessary means to support other nations in there biggest crises. Thus, coming to the signing of the Reykjavik Accords in 2050. 
== The Treaty ==
=== Purpose ===
The Modern Day Reykjavik Accords was signed on August 29th, 2051. The purpose was to create a brand new international group of peacekeepers to basically take place what modern day UN Peacekeepers couldn't do. The idea was that turning PMC units into operational international armies could decrease regional and international conflicts, better protect civilian populations and human rights, and decrease the amount of political conflicts thanks to the lack of resources. Private Military Corporations were seen as the future of peace-keeping forces, and their lack of political entanglements and quick response times theoretically makes them excellent fast responders to crises and humanitarian missions.
=== Guidelines ===
The guidelines of the Reykjavik Accords were quite simple for Private Military Corporations. PMC's would operate either by country/company contract, and would be given a sum of money for there services depending on the customer they served. The Accords defines the role of PMCs in combat as well as their new responsibilities in terms of human rights. The Accords authorized the right for PMC units to serve in every aspect of military operations. With this accords, PMCs can be engaged in full-scale forward operations.
The guidelines that were set by the accords made PMCs act as international and independent entities and must be contracted by a sovereign state to enter a conflict. They cannot target civilian populations and all PMC operational units must be given the status of official combatants. Also, all PMC units must use their own equipment to fulfill their missions. These accords essentially gave the Private Military Corporations the right to have there own army, navy and air force that could be obtained from governments or from manufacturers. 
=== Drawback ===
With this, Private Military Corporations are now fully authorized to purchase any conventional equipment on the international armaments market from jet fighters, armored vehicles, tanks and every vehicles. They are also allowed to have their own version of an infantry unit, with access to guns and a gear. PMC units are now real private armies officially recognized by sovereign states, and in some cases could actually be in charge of running said states. The war market has been deregulated: States lift all commercial restrictions to conventional weapons exchange with PMC units, so long as they respect the Reykjavik Accords. Within the limits of the Nuclear Non-Proliferation Treaty, it is now up to each nation decide whom they wish to sell to – and what they wish to sell. Most of the leading nations, including the United States, choose to sell only their older, outmoded equipment to the PMCs. A few, however, see the opportunity for quick profit, and make available even top of the line military hardware.
With these drawbacks, the United Nations and World Governments Essentially abolished the guidelines of the Sherman Anti-Trust Act, allowing these Private Militaries to grow unchecked. Thanks to the International Great Power shift, it allowed for companies such as SPIRE Corporation, Artemis Global Security, and many other companies such as Amazon and Apple be allowed to hire there own private militaries. This could have in turn lead to conflicts between Private Military Corporations, and create unofficial wars between companies, which could only lead to disastrous results. 
== Downfall ==
The Downfall of the Reykjavik Accords came in 2060, when SPIRE Corporation under CEO Jason Taylor, a self made Trillionaire who basically had the backing of 25 Million Mercenaries on his back was admitted to the United Nations Security Council. During his opening speech at to the United Nations, Jason Taylor went on a rant and declared war against the United Nations. The next day, SPIRE Corporation launched a massive invasion against the United States of America, and ordered his bases and faculties around the world to go on the offensive, beginning what would become known as the UNSC-SPIRE War. The war lasted for a good four years, before SPIRE Corporation was finally defeated in 2064. 
The UNSC-SPIRE War claimed the lives if roughly 37 Million People at first estimates, and had completely changed the face of the way nations did politics with megacorporation's. In 2065, the United Nations issued a mandate to disbanded and override the Reykjavik Accords, which was passed in a 190-1 vote in favor of overriding. The United Nations also issued the a mandate to disband certain PMC's, and limit the arms of which Private Military Corporations could possess. Some companies however, such as Artemis Global Security, were folded into the United Nations Security Council as United Nations Peacekeepers. The accords were officially rendered obsolete in 2067.