full screen background image


21 September 2017 - October 5 & 6, 2017: ‘International Investment Law & the Law of Armed Conflict’ Colloquium on ‘International Inve ... +++ 21 September 2017 - 5 & 6 Οκτωβρίου 2017: International Investment Law & the Law of Armed Conflict 5 & 6 Οκτωβρίου 2017: ... +++ 29 April 2017 - Summer School on European Business Law, Corfu 2017, 24-28 Ιουλίου Το “Summer School” αποτε ... +++ 3 May 2016 - Εκδηλώσεις Τομέα Διεθνών Σπουδών – Κατεύθυνση Ι.Δ.Δ. ΑΝΑΚΟΙΝΩΣΗ Ο Καθηγ ... +++ 30 April 2016 - 9.5.2016: Ημερίδα – Το Πρόσωπο και η Οικογένεια στο Δίκαιο και την Κοινωνία   Το Ελληνικό Τμή ... +++ 30 March 2016 - 14th ICC Miami Conference on International Arbitration This conference provides an indispe ... +++

*International Arbitration

Published on August 28th, 2017 | by Olga Papadopoulou


Long-Term Contracts: New Regulation for International Commercial Arbitrations

Kluwer Arbitration Blog

Long-Term Contracts: New Regulation for International Commercial Arbitrations

María Pilar Perales Viscasillas (Universidad Carlos III de Madrid)/July 26, 2017/ ITA

The last 40 years or so has experienced increased growth in the number of transactions concluded internationally, departing from classical one-shot contracts such as the simple sale of goods contract. These complex contracts involve in many instances a mix of private and public issues as is seen in regulatory sectors (telecommunications, oil and gas). The rise of complex international contracts gave birth in some cases to a new approach to their design.

Nowadays, international arbitral tribunals generally deal with disputes related to long-term contracts. Although these contracts often are heavily negotiated and carefully drafted, it has been difficult for arbitrators to assess the agreement of the parties against a national law due to the fact that long-term contracts are largely unregulated under domestic legal systems. Needless to say, no matter how well a contract is drafted, certain issues that were not previously contemplated will arise during its performance.

With a view to addressing the special needs of long-term contracts, UNIDROIT set up a working group aimed at drafting amendments and additions to the black-letter rules and comments of the UNIDROIT Principles of International Commercial Contracts 2010, successfully approving a new 2016 edition that was recently published in spring 2017.1) To clarify, the 2010 UNIDROIT Principles also covered long-term contracts, but a number of issues were not taken into account; this was the work that was developed in the 2016 edition.


About the Author

Back to Top ↑