- Arbitral Award
- International Commercial Arbitration Court at the Ukrainian Chamber of Commerce and Industry
SALES CONTRACT - BETWEEN AN UKRAINIAN SELLER AND A FOREIGN BUYER - CHOICE OF LAW CLAUSE REFERRING TO CISG, LEX MERCATORIA AND UNIDROIT PRINCIPLES AS THE LAW APPLICABLE TO THE CONTRACT - ARBITRAL TRIBUNAL'S DECISION BASED ON UKRAINIAN LAW
A sales contract between a foreign buyer and an Ukrainian seller contained an arbitration clause in favour of the Tribunal of International Commercial Arbitration at the Ukrainian Chamber of Commerce and Trade and provided that the law applicable to the contractual relations between the parties and the arbitration would be the U.N. Convention on Contracts for the International Sale of Goods (CISG), the lex mercatoria and the UNIDROIT Principles of International Commercial Contracts (1994 edition). Since according to Art. 6 of the Ukrainian Law on Foreign Economic Activity, where the national law of neither party to the contract has been chosen as the applicable law, the applicable law shall be the law of the country in which the seller is situated, the Arbitral Tribunal decided that in the case at hand also the law of Ukraine was applicable.
Faced with the questions as to whether or not the limitation period may be applied by the court only upon request by a party and of what was the length of the limitation period for a claim for the recovery of a penalty, the Arbitral Tribunal based its decision on the relevant provisions of the Ukrainian Civil Code and Commercial Code.
Advopkatura, No. 33-36 of February 2005 (reference taken from http://www.cisg.law.pace.edu/cisg/wais/db/cases2041222u5.html).}}