THE 2010 UNIDROIT PRINCIPLES OF INTERNATIONAL COMMERCIAL CONTRACTS

UNIDROIT PRINCIPLES OF INTERNATIONAL COMMERCIAL CONTRACTS

On 25 February 2015, a two-hour program on The 2010 UNIDROIT Principles of International Commercial Contracts (“PICC”) took place in six video-linked locations: New York, London, Paris, Berlin, Frankfurt, and Washington D.C.

The event, an initiative of the New York Branch of the Chartered Institute of Arbitrators (CIArb NY Branch), was organized and hosted by Squire Patton Boggs, and co-sponsored by ICC/SICANA, Inc., the New York International Arbitration Center (NYIAC), the College of Commercial Arbitrators (CCA), and the CIArb European Branch and Washington D.C. Chapter.

Six prominent academics active in the UNIDROIT Principles Working Group made presentations on specific topics and answered questions from an audience sophisticated in international commercial law and dispute resolution. The event provided an occasion for a lively introduction to key provisions of the UNIDROIT Principles, to their actual and potential use in cross-border commercial contracts, and to their influence in the evolution of commercial law in civil, common law and developing legal systems.

The program was introduced by Peter Michaelson (independent arbitrator and mediator, Chair of CIArb New York Branch and CCA Fellow), and moderated by Richard Mattiaccio (Squire Patton Boggs (US) LLP partner, Chair of the CIArb New York Branch Programming Committee, CCA Fellow, NYIAC director, and UNIDROIT Principles Working Group observer.)

 

 

 


 

Speaker 1: M. Joachim Bonell

Why Practitioners Should Care About an International Restatement of Contracts

• Contractual choice of law
• A gap-filler for governing law (e.g. CISG)
• Soft law guide for courts and arbitrators
• A model for legislators
• Statistics reflect initial impact


 

Speaker 2: Alejandro M. Garro

Principles Familiar to Civil and Common Law Traditions

• Contract Formation
• Specific Results
• Best Efforts


 

Speaker 3: Eckart Brödermann

Principles Familiar to Civil Law, Unfamiliar to Common Law Tradition

• Knock-Out Doctrine
• Pre-contractual conduct in contract interpretation
• Course of performance in contract interpretation
• Duty of Good Faith in contract negotiations


 

Speaker 4: Henry D. Gabriel

Principles Familiar to Common Law, Unfamiliar to Civil Law Traditions

• Avoiding a contract by notice only
• Terminating for non-performance by notice
• Limitations on right to specific performance


 

Speaker 5: Bénédicte Fauvarque-Cosson

Principles New to Both Civil Law and Common Law Traditions

• Modification without consideration or cause
• Hardship, including right of disadvantaged party to request renegotiation


 

Speaker 6: Neil B. Cohen

Some of the New Topics Addressed in 2010

• Plurality of Obligors
– When liability is joint and several
– When obligations are separate
– Availability of set-off
– Availability of defenses
– Effect of performance or set-off
– Effect of settlement or release

 

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