PREAMBLE(Purpose of the Principles) 1
Foreword 5
Introduction 7
CHAPTER 1: GENERAL PROVISIONS 7
Article 1.1 (Freedom of contract) 7
Article 1.2 (No form required) 8
Article 1.3 (Binding character of contract) 9
Article 1.4 (Mandatory rules) 10
The UNIDROIT Governing Council 11
Article 1.5 (Exclusion or modification by the parties) 12
Members of the Working Group 13
Article 1.6 (Interpretation and supplementation of the Principles) 13
Other Participants in the Project 15
Article 1.7 (Good faith and fair dealing) 16
Article 1.8 (Usages and practices) 19
Article 1.9 (Notice) 22
Article 1.10 (Definitions) 24
CHAPTER 2: FORMATION 26
Article 2.1 (Manner of formation) 26
Article 2.2 (Definition of offer) 27
Article 2.3 (Withdrawal of offer) 29
Article 2.4 (Revocation of offer) 30
Article 2.5 (Rejection of offer) 33
Article 2.6 (Mode of acceptance) 34
Article 2.7 (Time of acceptance) 37
Article 2.8 (Acceptance within a fixed period of time) 38
Article 2.9 (Late acceptance, Delay in transmission) 39
Article 2.10 (Withdrawal of acceptance) 40
Article 2.11 (Modified acceptance) 41
Article 2.12 (Writings in confirmation) 43
Article 2.13 (Conclusion of contract dependent on agreement on specific matters or in a specific form) 45
Article 2.14 (Contract with terms deliberately left open) 47
Article 2.15 (Negotiations in bad faith) 50
Article 2.16 (Duty of confidentiality) 52
Article 2.17 (Merger clauses) 54
Article 2.18 (Written modification clauses) 55
Article 2.19 (Contracting under standard terms) 56
Article 2.20 (Surprising terms) 58
Article 2.21 (Conflict between standard terms and non-standard terms) 60
Article 2.22 (Battle of forms) 61
CHAPTER 3: VALIDITY 64
Article 3.1 (Matters not covered) 64
Article 3.2 (Validity of mere agreement) 64
Article 3.3 (Initial impossibility) 66
Article 3.4 (Definition of mistake) 68
Article 3.5 (Relevant mistake) 69
Article 3.6 (Error in expression or transmission) 72
Article 3.7 (Remedies for non-performance) 73
Article 3.8 (Fraud) 74
Article 3.9 (Threat) 75
Article 3.10 (Gross disparity) 77
Article 3.11 (Third persons) 80
Article 3.12 (Confirmation) 81
Article 3.13 (Loss of right to avoid) 81
Article 3.14 (Notice of avoidance) 83
Article 3.15 (Time limits) 84
Article 3.16 (Partial avoidance) 85
Article 3.17 (Retroactive effect of avoidance) 86
Article 3.18 (Damages) 87
Article 3.20 (Unilateral declarations) 88
Article 3.19 (Mandatory character of the provisions) 88
CHAPTER 4: INTERPRETATION 90
Article 4.1 (Intention of the parties) 90
Article 4.2 (Interpretation of statements and other conduct) 91
Article 4.3 (Relevant circumstances) 93
Article 4.4 (Reference to contract or slatement as a whole) 95
Article 4.5 (All terms to be given effect) 96
Article 4.6 (Contra proferentem rule) 97
Article 4.7 (Linguistic discrepancies) 98
Article 4.8 (Supplving an omitted term) 99
CHAPTER 5: CONTENT 101
Article 5.1 (Express and implied obligations) 101
Article 5.2 (Implied obligations) 101
Article 5.3 (Co-operation between the parties) 102
Article 5.4 (Duty to achieve a specific result.Duty of best efforts) 103
Article 5.5 (Determination of kind of duty involved) 105
Article 5.6 (Determination of quality of performance) 108
Article 5.7 (Price determination) 109
Article 5.8 (Contract for an indefinite period) 112
CHAPTER 6: PERFORMANCE 113
Section 1: Performance in General 113
Article 6.1.1 (Time of performance) 113
Article 6.1.2 (Performance at one time or in instalments) 114
Article 6.1.3 (Partial performance) 115
Article 6.1.4 (Order of performance) 117
Article 6.1.5 (Earlier performance) 119
Article 6.1.6 (Place of performance) 121
Article 6.1.7 (Payment by cheque of other instrument) 124
Article 6.1.8 (Payment by funds transfer) 125
Article 6.1.9 (Currency of payment) 127
Article 6.1.10 (Currency not expressed) 130
Article 6.1.11 (Costs of performance) 131
Article 6.1.12 (Imputation of payments) 131
Article 6.1.13 (Imputation of non-monetary obligations) 133
Article 6.1.14 (Application for public permission) 133
Article 6.1.15 (Procedure in applying for permission) 138
Article 6.1.16 (Permission neither granted nor refused) 141
Article 6.1.17 (Permission refused) 143
Section 2: Hardship 145
Article 6.2.1 (Contract to be observed) 145
Article 6.2.2 (Definition of hardship) 146
Article 6.2.3 (Effects of hardship) 151
Section 1: Non-performance in general 156
Article 7.1.1 (Non-performance defined) 156
CHAPTER 7: NON-PERFORMANCE 156
Article 7.1.2 (Interference by the other party) 157
Article 7.1.3 (Withholding performance) 158
Article 7.1.4 (Cure by non-performing party) 159
Article 7.1.5 (Additional period for performance) 163
Article 7.1.6 (Exemption clauses) 166
Article 7.1.7 (Force majeure) 169
Article 7.2.2 (Performance of non-monetary obligation) 172
Article 7.2.1 (Performance of monetary obligation) 172
Section 2: Right to performance) 172
Article 7.2.3 (Repair and replacement of defective performance) 176
Article 7.2.4 (Judicial penalty) 178
Article 7.2.5 (Change of remedy) 180
Section 3: Termination 182
Article 7.3.1 (Right to terminate the contract) 182
Article 7.3.2 (Notice of termination) 185
Article 7.3.3 (Anticipatory non-performance) 187
Article 7.3.4 (Adequate assurance of due performance) 188
Article 7.3.5 (Effects of termination in general) 189
Article 7.3.6 (Restitution) 190
Sectlon 4: Damages 194
Article 7.4.1 (Right to damages) 194
Article 7.4.2 (Full compensation) 195
Article 7.4.3 (Certainty of harm) 198
Article 7.4.4 (Foreseeability of harm) 200
Article 7.4.5 (Proof of harm in case of replacement transaction) 201
Article 7.4.6 (Proof of harm by current price) 203
Article 7.4.7 (Harm due in part to aggrieved party) 204
Article 7.4.8 (Mitigation of harm) 206
Article 7.4.9 (Interest for failure to pay money) 208
Article 7.4.10 (Interest on damages) 210
Article 7.4.11 (Manner of monetary redress) 211
Article 7.4.12 (Currency in which to assess damages) 212
Article 7.4.13 (Agreed payment for non-performance) 213
Index 217
Annex: Text of the Articles of the Principles of International Commercial Contracts 233