Gaidaenko Sher N.I. Application of UNIDROIT Principles and ICC Principles to Facilitate Commercial Negotiations for International Commercial Contracts

Abstract: UNIDROIT Principles of International Commercial Contracts can be used as a guidance for drafting contracts. First of all, they set up standards of behavior in international commercial relations that the parties voluntarily undertake to follow. Compliance with principles accepted and recognized by all parties is important for negotiation of the contractual terms as well. International Chamber of Commerce has worked out 11 Principles to facilitate commercial negotiations in order to contribute to the creation of the environment favorable for negotiation and formulation of mutually advantageous realistic obligations by the parties. ICC Principles are analysed in the article in their comparison with UNIDROIT principles. The author comes to the conclusion that both sets of rules enrich and complement each other and their use may positively affect the development of international commercial relationship.

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