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Date: 00.00.1992
Country: Arbitral Award
Number: 7197/1992
Court: ICC Court of Arbitration - Paris
Parties: Unknown
Citation: http://www.unilex.info/case.cfm?id=37
APPLICATION OF CISG - RULES OF PRIVATE INTERNATIONAL LAW REFERRING TO LAW OF CONTRACTING STATE (ART. 1(1)(B) CISG)

PAYMENT OF PRICE - BUYER'S OBLIGATION TO TAKE ALL MEASURES AND COMPLY WITH ALL CONTRACTUAL AND LEGAL FORMALITIES (ART. 54 CISG) - OPENING OF DOCUMENTARY CREDIT

AVOIDANCE OF CONTRACT - SELLER'S RIGHT WHERE BUYER FAILS TO PAY WITHIN ADDITIONAL TIME (ART. 64(1) CISG) - NOTICE OF DECLARATION OF AVOIDANCE (ART 26 CISG)

FORCE MAJEURE (ART. 79 CISG) - SUSPENSION OF PAYMENT OF FOREIGN DEBTS

PENALTY CLAUSE - MATTER NOT COVERED BY CISG - RECOURSE TO DOMESTIC LAW (ART. 7(2) CISG) - AUSTRIAN LAW APPLICABLE

INTEREST (ART. 78 CISG) - INTEREST RATE DETERMINED BY LAW OF CREDITOR'S COUNTRY - AVERAGE BANK LENDING RATE

PRESERVATION OF GOODS - SELLER'S RIGHT TO RECOVER EXPENSES

PASSING OF RISK (ART. 69 CISG) - EXCLUDED IF SELLER DOES NOT DELIVER THE GOODS NOR PLACE THEM AT THE DISPOSAL OF THE BUYER