The UNIDROIT Principles of International Commercial Contracts (UNIDROIT Principles) are a soft law instrument. Its objective is to harmonize the law of international commercial contracts. The UNIDROIT Principles are a neutral and widely exhaustive set of rules which parties may find easier to settle on than any given national law. As a soft law instrument, UNIDROIT Principles are not binding upon parties of a contract, unless they expressly agreed to it.
UNIDROIT Principles are most commonly used to interpret and supplement provisions of a specific domestic law or of the CISG. In international commercial arbitration, subject to any restrictions at the place of the arbitration, it is also possible for parties to agree on the UNIDROIT Principles as the applicable law, instead of agreeing on specific domestic law or the CISG to govern their contract.
The UNIDROIT Principles were first published in 1994. They have since been revised multiple times.
BODENHEIMER Representative Matters as Parties’ Counsel
Represented a German online media company in a SIAC arbitration against a Malaysian advertiser on payout claims for campaigns run under a contract governed by the UNIDROIT Principles
BODENHEIMER Representative Matters as Arbitrators
Acted as party-nominated co-arbitrator in a VIAC arbitration between a Swedish supplier and a Russian operator of a steel plant, revolving around contractual claims, with CISG, the UNIDROIT Principles and Austrian Law as the governing laws, and Vienna as the place of the arbitration (Axel Benjamin Herzberg)
Acted as co-arbitrator in an ICC arbitration between a Cyprus member of a group of construction companies and an Italian manufacturer on claims arising out of a contract for the supply of building materials, in which one party relied heavily on the Unidroit Principles of International Commercial Contracts (Axel Benjamin Herzberg)
CONTACTS FOR THIS PRACTICE AREA:
