- Arbitral Award
- International Arbitration Court of the Chamber of Commerce and Industry of the Russian Federation
SALES CONTRACT - BETWEEN A BRITISH VIRGIN ISLAND COMPANY AND A RUSSIAN COMPANY - RUSSIAN LAW CHOSEN BY PARTIES AS THE LAW GOVERNING THE CONTRACT
IMPUTATION OF NON-MONETARY OBLIGATIONS (ART. 522 OF THE RUSSIAN CIVIL CODE) - REFERENCE ALSO TO COMMENTS TO ART. 6.1.13 OF THE UNIDROIT PRINCIPLES
Claimant, a company situated in the British Virgin Islands, entered into a contract with Defendant, a Russian company, for the supply of oil products over a certain period of time.
A dispute arose concerning the imputation of individual lots of the goods delivered under separate orders at different prices.
The contract provided that Russian law was the law governing the contract.
As to the merits, the Arbitral Tribunal applied Art. 522 of the Russian Civil Code providing for the rules applicable in case of imputation of performance of non-monetary obligations. In support of its interpretation of Art. 522 the Arbitral Tribunal also referred to the Comments to Art. 6.1.13 of the UNIDROIT Principles.