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(1) The seller may cancel the contract on grounds of delayed payment if the buyer's breach of contract is fundamental.
(2) The contract may also be cancelled if the buyer fails to pay the price within an additional period of time of reasonable length which the seller has fixed for performance.
(3) In the course of the additional period the seller may not cancel, unless the buyer has declared that he will not perform within the period so fixed.
(4) If the goods have already been taken over by the buyer, the seller may only cancel if he has made a reservation to that effect or the buyer rejects the goods. The foregoing provision notwithstanding, an international sale may be cancelled without such reservation unless the cancellation affects the right which a third party may have in the goods, including any right of creditors in the buyer's bankruptcy.
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"Treaties": international trade instruments
Private International Commercial Law
International Commercial Arbitration & other dispute settlement
International Tax & Financial Regulation
Carriage Transport & Maritime Law
Electronic Commerce and Encryption
International Criminal Law including Anti-Corruption and Cross Border Crime
International Life Sciences & Bio-Sciences