- Arbitral Award
- ICC International Court of Arbitration 11739
PARTIES' CHOICE OF THE UNIDROIT PRINCIPLES AS THE LAW APPLICABLE TO THE SUBSTANCE OF THE DISPUTE, SUPPLEMENTED IF NECESSARY BY ITALIAN LAW
DISPUTED ISSUES CONCERNED NATURE OF CONTRACT, CONTRACT INTERPRETATION, LIABILITY FOR NON-PERFORMANCE, AMOUNT OF DAMAGES, RIGHT TO INTEREST AND APPLICABLE RATE, AND CURRENCY OF PAYMENT
ALL ISSUES DECIDED BY ARBITRAL TRIBUNAL ON THE BASIS OF UNIDROIT PRINCIPLES
In a dispute submitted to arbitration the parties agreed that the law applicable to the substance of the dispute was the UNIDROIT Principles supplemented, if necessary, by Italian law.
The disputed issues concerned the nature of the contract, its interpretation, liability for non-performance, the amount of damages, right to interest and the applicable rate, and the currency of payment. The arbitral tribunal decided all these issues on the basis of the UNIDROIT Principles.
Award cited by A. Crivellaro in Diritto del Commercio Internazionale 2012, p. 924.}}