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Principles of International Commercial Contracts, 1994 - UNIDROIT Principles of International Commercial Contracts, 1994 - UNIDROIT UNIDROIT copy @ lexmercatoria.org Copyright © 1994 UNIDROIT SiSU lexmercatoria.org ii Contents Contents UNIDROIT Principles of International Commercial Contracts with Official Com- mentary [1994] 1 FOREWORD ...................................... 1 INTRODUCTION .................................... 1 THE UNIDROIT GOVERNING COUNCIL [in 1994] ................. 3 MEMBERS OF THE WORKING GROUP [1994] .................. 4 OTHER PARTICIPANTS IN THE PROJECT ..................... 5 PREAMBLE 6 PREAMBLE - (Purpose of the Principles) ...................... 6 Preamble - (Purpose of the Principles) .................... 6 COMMENT ................................... 7 1. “International” contracts ........................... 7 2. “Commercial” contracts ........................... 7 3. The Principles and domestic contracts between private persons .... 8 4. The Principles as rules of law governing the contract ........... 8 5. The Principles as a substitute for the domestic law otherwise applicable 9 6. The Principles as a means of interpreting and supplementing existing international instruments ........................ 9 7. The Principles as a model for national and international legislators ... 10 CHAPTER 1 - GENERAL PROVISIONS 11 ARTICLE 1.1 - (Freedom of contract) ......................... 11 Article 1.1 - (Freedom of contract) ....................... 11 COMMENT ................................... 11 1. Freedom of contract as a basic principle in the context of international trade ................................... 11 2. Economic sectors where there is no competition ............. 11 3. Limitation of party autonomy by mandatory rules ............. 11 ARTICLE 1.2 - (No form required) .......................... 12 Article 1.2 - (No form required) ......................... 12 COMMENT ................................... 12 1. Contracts as a rule not subject to formal requirements .......... 12 2. Possible exceptions under the applicable law ............... 12 3. Form requirements agreed by the parties ................. 12 ARTICLE 1.3 - (Binding character of contract) .................... 13 Article 1.3 - (Binding character of contract) .................. 13 COMMENT ................................... 13 1. The principle pacta sunt servanda ..................... 13 SiSU lexmercatoria.org iii Contents 2. Exceptions .................................. 13 3. Effects on third persons not dealt with ................... 13 ARTICLE 1.4 - (Mandatory rules) ........................... 14 Article 1.4 - (Mandatory rules) ......................... 14 COMMENT ................................... 14 1. Mandatory rules prevail ........................... 14 2. Mandatory rules applicable in the event of mere incorporation of the Prin- ciples in the contract .......................... 14 3. Mandatory rules applicable if the Principles are the law governing the contract ................................. 14 4. Recourse to the rules of private international law relevant in each individ- ual case ................................. 15 ARTICLE 1.5 - (Exclusion or modification by the parties) .............. 15 Article 1.5 - (Exclusion or modification by the parties) ............ 15 COMMENT ................................... 15 1. The non-mandatory character of the Principles .............. 15 2. Exclusion or modification may be express or implied ........... 15 3. Mandatory provisions to be found in the Principles ............ 16 ARTICLE 1.6 - (Interpretation and supplementation of the Principles) ....... 16 Article 1.6 - (Interpretation and supplementation of the Principles) ..... 16 COMMENT ................................... 16 1. Interpretation of the Principles as opposed to interpretation of the contract 16 2. Regard to the international character of the Principles .......... 17 3. Purposes of the Principles ......................... 17 4. Supplementation of the Principles ..................... 17 ARTICLE 1.7 - (Good faith and fair dealing) ..................... 18 Article 1.7 - (Good faith and fair dealing) ................... 18 COMMENT ................................... 19 1. “Good faith and fair dealing” as a fundamental idea underlying the Prin- ciples .................................. 19 2. “Good faith and fair dealing in international trade” ............ 20 3. The mandatory nature of the principle of good faith and fair dealing .. 21 ARTICLE 1.8 - (Usages and practices) ........................ 21 Article 1.8 - (Usages and practices) ...................... 21 COMMENT ................................... 21 1. Practices and usages in the context of the Principles ........... 21 2. Practices established between the parties ................. 21 3. Agreed usages ................................ 22 4. Other applicable usages .......................... 22 5. Application of usage unreasonable ..................... 23 6. Usages prevail over the Principles ..................... 23 SiSU lexmercatoria.org iv Contents ARTICLE 1.9 - (Notice) ................................ 24 Article 1.9 - (Notices) .............................. 24 COMMENT ................................... 24 1. Form of notice ................................ 24 2. Receipt principle ............................... 24 3. Dispatch principle to be expressly stipulated ............... 25 4. “Reaches” .................................. 25 ARTICLE 1.10 - (Definitions) ............................. 25 COMMENT ................................... 26 1. Courts and arbitral tribunals ......................... 26 2. Party with more than one place of business ................ 26 3. “Obligor” - “obligee” ............................. 26 4. “Writing” .................................... 26 CHAPTER 2 - FORMATION 27 ARTICLE 2.1 - (Manner of formation) ......................... 27 Article 2.1 - (Manner of formation) ....................... 27 COMMENT ................................... 27 1. Offer and acceptance ............................ 27 2. Conduct sufficient to show agreement ................... 27 ARTICLE 2.2 - (Definition of offer) .......................... 28 Article 2.2 - (Definition of offer) ........................ 28 COMMENT ................................... 28 1. Definiteness of an offer ........................... 28 2. Intention to be bound ............................ 29 ARTICLE 2.3 - (Withdrawal of offer) ......................... 30 Article 2.3 - (Withdrawal of offer) ....................... 30 COMMENT ................................... 30 1. When an offer becomes effective ...................... 30 2. Withdrawal of an offer ............................ 30 ARTICLE 2.4 - (Revocation of offer) ......................... 30 Article 2.4 - (Revocation of offer) ....................... 30 COMMENT ................................... 31 1. Offers as a rule revocable .......................... 31 2. Irrevocable offers .............................. 31 b. Reliance by offeree on irrevocability of offer ................ 32 ARTICLE 2.5 - (Rejection of offer) .......................... 33 Article 2.5 - (Rejection of offer) ........................ 33 COMMENT ................................... 33 1. Rejection may be express or implied .................... 33 2. Rejection only one cause of termination of an offer ............ 34 SiSU lexmercatoria.org v Contents ARTICLE 2.6 - (Mode of acceptance) ........................ 34 Article 2.6 - (Mode of acceptance) ....................... 34 COMMENT ................................... 34 1. Indication of assent to an offer ....................... 34 2. Acceptance by conduct ........................... 34 3. Silence or inactivity ............................. 35 4. When acceptance becomes effective ................... 35 ARTICLE 2.7 - (Time of acceptance) ..................... 36 COMMENT ................................... 36 ARTICLE 2.8 - (Acceptance within a fixed period of time) ............. 37 Article 2.8 - (Accpeptance within a fixed period of time) ........... 37 COMMENT ................................... 37 ARTICLE 2.9 - (Late acceptance. Delay in transmission) .............. 38 Article 2.9 - (Late acceptance. Delay in transmission) ............ 38 COMMENT ................................... 38 1. Late acceptance normally ineffective .................... 38 2. Offeror may nevertheless “accept” late acceptance ............ 38 3. Acceptance late because of delay in transmission ............ 38 Illustration .................................... 39 ARTICLE 2.10 - (Withdrawal of acceptance) ..................... 39 Article 2.10 - (Withdrawal of acceptance) ................... 39 COMMENT ................................... 39 ARTICLE 2.11 - (Modified acceptance) ........................ 40 Article 2.11 - (Modified acceptance) ...................... 40 COMMENT ................................... 40 1. Acceptance with modifications normally to be considered a counter-offer 40 2. Modifications which do not alter the nature of the acceptance ...... 40 ARTICLE 2.12 - (Writings in confirmation) ...................... 41 Article 2.12 - (Writings in confirmation) .................... 41 COMMENT ................................... 41 1. “Writings in confirmation” .......................... 41 2. Writing in confirmation to be sent within a reasonable time after conclu- sion of the contract ........................... 43 3. Invoices .................................... 43 ARTICLE 2.13 - (Conclusion of contract dependent on agreement on specific matters or in a specific form) .......................... 43
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