UNIDROIT PRINCIPLES OF INTERNATIONAL COMMERCIAL CONTRACTS 2004

Preamble - (Purpose of the Principles)

Chapter 1 - General Provisions

Article 1.1 - Freedom of contract

Article 1.2 - No form required

Article 1.3 - Binding character of contract

Article 1.4 - Mandatory rules

Article 1.5 - Exclusion or modification by the parties

Article 1.6 - Interpretation and supplementation of the Principles

Article 1.7 - Good faith and fair dealing

Article 1.8 - Inconsistent Behaviour

Article 1.9 - Usages and practices

Article 1.10 - Notice

Article 1.11 - Definitions

Article 1.12 - Computation of time set by parties

Chapter 2 - Formation and Authority of Agents

Section 1 - Formation

Article 2.1.1 - Manner of formation

Article 2.1.2 - Definition of offer

Article 2.1.3 - Withdrawal of offer

Article 2.1.4 - Revocation of offer

Article 2.1.5 - Rejection of offer

Article 2.1.6 - Mode of acceptance

Article 2.1.7 - Time of acceptance

Article 2.1.8 - Acceptance within a fixed period of time

Article 2.1.9 - Late acceptance. Delay in transmission

Article 2.1.10 - Withdrawal of acceptance

Article 2.1.11 - Modified acceptance

Article 2.1.12 - Writings in confirmation

Article 2.1.13 - Conclusion of contract dependent on agreement on specific matters or in a particular form

Article 2.1.14 - Contract with terms deliberately left open

Article 2.1.15 - Negotiations in bad faith

Article 2.1.16 - Duty of confidentiality

Article 2.1.17 - Merger clauses

Article 2.1.18 - Modification in a particular form

Article 2.1.19 - Contracting under standard terms

Article 2.1.20 - Surprising terms

Article 2.1.21 - Conflict between standard terms and non­standard terms

Article 2.1.22 - Battle of forms

Section 2 - Authority of Agents

Article 2.2.1 - Scope of the Section

Article 2.2.2 - Establishment and scope of the authority of the agent

Article 2.2.3 - Agency disclosed

Article 2.2.4 - Agency undisclosed

Article 2.2.5 - Agent acting without or exceeding its authority

Article 2.2.6 - Liability of agent acting without or exceeding its authority

Article 2.2.7 - Conflict of interests

Article 2.2.8 - Sub­agency

Article 2.2.9 - Ratification

Article 2.2.10 - Termination of authority

Chapter 3 - Validity

Article 3.1 - Matters not covered

Article 3.2 - Validity of mere agreement

Article 3.3 - Initial impossibility

Article 3.4 - Definition of mistake

Article 3.5 - Relevant mistake

Article 3.6 - Error in expression or transmission

Article 3.7 - Remedies for non­performance

Article 3.8 - Fraud

Article 3.9 - Threat

Article 3.10 - Gross disparity

Article 3.11 - Third persons

Article 3.12 - Confirmation

Article 3.13 - Loss of right to avoid

Article 3.14 - Notice of avoidance

Article 3.15 - Time limits

Article 3.16 - Partial avoidance

Article 3.17 - Retroactive effect of avoidance

Article 3.18 - Damages

Article 3.19 - Mandatory character of the provisions

Article 3.20 - Unilateral declarations

Chapter 4 - Interpretation

Article 4.1 - Intention of the parties

Article 4.2 - Interpretation of statements and other conduct

Article 4.3 - Relevant circumstances

Article 4.4 - Reference to contract or statement as a whole

Article 4.5 - All terms to be given effect

Article 4.6 - Contra proferentem rule

Article 4.7 - Linguistic discrepancies

Article 4.8 - Supplying an omitted term

Chapter 5 - Content and Third Party Rights

Section 1 - Content

Article 5.1.1 - Express and implied obligations

Article 5.1.2 - Implied obligations

Article 5.1.3 - Co­operation between the parties

Article 5.1.4 - Duty to achieve a specific result. Duty of best efforts

Article 5.1.5 - Determination of kind of duty involved

Article 5.1.6 - Determination of quality of performance

Article 5.1.7 - Price determination

Article 5.1.8 - Contract for an indefinite period

Article 5.1.9 - Release by agreement

Section 2 - Third Party Rights

Article 5.2.1 - Contracts in favour of third parties

Article 5.2.2 - Third party identifiable

Article 5.2.3 - Exclusion and limitation clauses

Article 5.2.4 - Defences

Article 5.2.5 - Revocation

Article 5.2.6 - Renunciation

Chapter 6 - Performance

Section 1 - Performance in General

Article 6.1.1 - Time of performance

Article 6.1.2 - Performance at one time or in instalments

Article 6.1.3 - Partial performance

Article 6.1.4 - Order of performance

Article 6.1.5 - Earlier performance

Article 6.1.6 - Place of performance

Article 6.1.7 - Payment by cheque or other instrument

Article 6.1.8 - Payment by funds transfer

Article 6.1.9 - Currency of payment

Article 6.1.10 - Currency not expressed

Article 6.1.11 - Costs of performance

Article 6.1.12 - Imputation of payments

Article 6.1.13 - Imputation of non­monetary obligations

Article 6.1.14 - Application for public permission

Article 6.1.15 - Procedure in applying for permission

Article 6.1.16 - Permission neither granted nor refused

Article 6.1.17 - Permission refused

Section 2 - Hardship

Article 6.2.1 - Contract to be observed

Article 6.2.2 - Definition of hardship

Article 6.2.3 - Effects of hardship

Chapter 7 - Non­Performance

Section 1 - Non­Performance in general

Article 7.1.1 - Non­performance defined

Article 7.1.2 - Interference by the other party

Article 7.1.3 - Withholding performance

Article 7.1.4 - Cure by non­performing party

Article 7.1.5 - Additional period for performance

Article 7.1.6 - Exemption clauses

Article 7.1.7 - Force majeure

Section 2 - Right to Performance

Article 7.2.1 - Performance of monetary obligation

Article 7.2.2 - Performance of non­monetary obligation

Article 7.2.3 - Repair and replacement of defective performance

Article 7.2.4 - Judicial penalty

Article 7.2.5 - Change of remedy

Section 3 - Termination

Article 7.3.1 - Right to terminate the contract

Article 7.3.2 - Notice of termination

Article 7.3.3 - Anticipatory non­performance

Article 7.3.4 - Adequate assurance of due performance

Article 7.3.5 - Effects of termination in general

Article 7.3.6 - Restitution

Section 4 - Damages

Article 7.4.1 - Right to damages

Article 7.4.2 - Full compensation

Article 7.4.3 - Certainty of harm

Article 7.4.4 - Foreseeability of harm

Article 7.4.5 - Proof of harm in case of replacement transaction

Article 7.4.6 - Proof of harm by current price

Article 7.4.7 - Harm due in part to aggrieved party

Article 7.4.8 - Mitigation of harm

Article 7.4.9 - Interest for failure to pay money

Article 7.4.10 - Interest on damages

Article 7.4.11 - Manner of monetary redress

Article 7.4.12 - Currency in which to assess damages

Article 7.4.13 - Agreed payment for non­performance

Chapter 8 - Set­Off

Article 8.1 - Conditions of set­off

Article 8.2 - Foreign currency set­off

Article 8.3 - Set­off by notice

Article 8.4 - Content of notice

Article 8.5 - Effect of set­off

Chapter 9 - Assignment of Rights, Transfer of Obligations, Assignment of Contracts

Section 1 - Assignment of Rights

Article 9.1.1 - Definitions

Article 9.1.2 - Exclusions

Article 9.1.3 - Assignability of non­monetary rights

Article 9.1.4 - Partial assignment

Article 9.1.5 - Future rights

Article 9.1.6 - Rights assigned without individual specification

Article 9.1.7 - Agreement between assignor and assignee sufficient

Article 9.1.8 - Obligor's additional costs

Article 9.1.9 - Non­assignment clauses

Article 9.1.10 - Notice to the obligor

Article 9.1.11 - Successive assignments

Article 9.1.12 - Adequate proof of assignment

Article 9.1.13 - Defences and rights of set­off

Article 9.1.14 - Rights related to the right assigned

Article 9.1.15 - Undertakings of the assignor

Section 2 - Transfer of Obligations

Article 9.2.1 - Modes of transfer

Article 9.2.2 - Exclusion

Article 9.2.3 - Requirement of obligee's consent to transfer

Article 9.2.4 - Advance consent of obligee

Article 9.2.5 - Discharge of original obligor

Article 9.2.6 - Third party performance

Article 9.2.7 - Defences and rights of set­off

Article 9.2.8 - Rights related to the obligation transferred

Section 3 - Assignment of Contracts

Article 9.3.1 - Definitions

Article 9.3.2 - Exclusion

Article 9.3.3 - Requirement of consent of the other party

Article 9.3.4 - Advance consent of the other party

Article 9.3.5 - Discharge of the assignor

Article 9.3.6 - Defences and rights of set­off

Article 9.3.7 - Rights transferred with the contract

Chapter 10 - Limitation Periods

Article 10.1 - Scope of the Chapter

Article 10.2 - Limitation periods

Article 10.3 - Modification of limitation periods by the parties

Article 10.4 - New limitation period by acknowledgement

Article 10.5 - Suspension by judicial proceedings

Article 10.6 - Suspension by arbitral proceedings

Article 10.7 - Alternative dispute resolution

Article 10.8 - Suspension in case of force majeure, death or incapacity

Article 10.9 - The effects of expiration of limitation period

Article 10.10 - Right of set­off

Article 10.11 - Restitution

Endnotes

Endnotes

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