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1. Each party may suspend the performance of his obligations whenever, after the conclusion of the contract, the economic situation of the other party appears to have become so difficult that there is good reason to fear that he will not perform a material part of his obligations.
2. If the seller has already despatched the goods before the economic situation of the buyer described in paragraph 1 of this Article becomes evident, he may prevent the handing over of the goods to the buyer even if the latter holds a document which entitles him to obtain them.
3. Nevertheless, the seller shall not be entitled to prevent the handing over of the goods if they are claimed by a third person who is a lawful holder of a document which entitles him to obtain the goods, unless the document contains a reservation concerning the effects of its transfer or unless the seller can prove that the holder of the document, when he acquired it. knowingly acted to the detriment of the seller.
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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