UNIDROIT Principles: New Developments and Applications

The importance of the UNIDROIT Principles of International Commercial Contracts has long been understood by the ICC International Court of Arbitration.

UNIDROIT is also known as the International Institute for the Unification of Private Law.

The UNIDROIT Principles of International Commercial Contracts, initially adopted in 1994, were enlarged in 2004 to cover a number of additional topics of interest to the international legal and business communities.

This month's ICC Product of the month, UNIDROIT Principles: New Developments and Applications, contains articles by international contract specialists analyzing and assessing several of these new topics:

• Authority of agents
• Set-off
• Assignment
• Limitation periods

Changes made to the Principles to adapt them to the increasing importance of electronic contracting are also examined in the publication.

In a foreword, Chairman of the International Court of Arbitration Robert Briner said: The close relations that have been forged over the years between ICC and UNIDROIT owe much to the nature of their respective activities, for both organizations are involved in the development of international law by offering new legal instruments to government and business."

UNIDROIT Principles: New Developments and Applications includes contributions by several distinguished practitioners, extracts from ten previously unpublished awards rendered by ICC arbitral tribunals in 2001 and 2002, and commentary on the uses to which the Principles have been put in contract practice and arbitration.

"The present publication is an important contribution towards an enlightened understanding of international commercial practice and dispute resolution," said UNIDROIT Secretary General Herbert Kronke.

The comment and analyses in UNIDROIT Principles: New Developments and Applications are an enlightening accompaniment to the 2004 version of the Principles.  The combination of scholarly discussion and case material in the publication makes it an indispensable resource for scholars, business professionals, arbitrators, lawyers and anyone with an interest in arbitration proceedings. .