New Tool for Navigating the Future of Cross-Border Contracts
CEAC Managing Director Prof. Dr. Eckart Broedermann recently published his commentary on the 2011 principles of the UNIDROIT Principles of Commercial Contracts ("UNIDROIT Principles"), an efficient tool for cross-border contract drafting and dispute resolution on neutral ground providing a practice-proven bridge between common and civil law.
The UNIDROIT Principles of International Commercial Contracts have been compiled by expert groups of the inter-governmental organization UNIDROIT over circa 30 years (since 1985 with the first release in 1994 and the last release in 2017 of the latest version of the 4th edition 2016). The United Nations Commission in International Trade Law (UNCITRAL) has approved and recommended to counsels around the globe to use the UNIDROIT Principles.
"The UNIDROIT Principles, created for cross-border B2B contracts, are an important instrument for all international practitioners although the Principles themselves are not part of many law school curriculums. I have been using them close to 15 years on a regular basis in a multitude of contexts. Based on my personal work experience with the UNIDROIT Principles, as well as my experience in participating in the discussions of the Working Group of UNIDROIT for several years, as an official observer, I decided to write an article-by-article commentary (Eckart Broedermann, UNIDROIT Principles of International Commercial Contracts, an Article-by-Article Commentary, published by Nomos and Wolters Kluwer in 2018). For each rule, I have concentrated on its background, summarized its practical requirements, defined its limits and strived to present options to its application, as appropriate under the given circumstances. The book provides a useful tool in working with the UNIDROIT Principles and navigating through the myriad of options which they offer to the drafting of contracts, advising businesses and resolving disputes (once there is a dispute governed by the UNIDROIT Principles)."