Review article
https://doi.org/10.32984/gapzh.10.1.12
The Buyer’s Right to Terminate a Contract Prior to the Date of Performance Under the United Nations Convention on Contracts for the International Sale of Goods
Kenad Osmanović
orcid.org/0000-0002-8841-5731
; Constitutional Court of Bosnia and Herzegovina
Abstract
One of the best known and successful instruments for achieving predictability and uniformity in contractual commercial law is the United Nations Convention on the Contracts for the International Sale of Goods which was adopted at the Diplomatic Conference in Vienna in 1980 and entered into force in 1988. The Convention has been ratified by 89 states. It contains substantive rules on matters relating to sales contracts between entities having their headquarters in two different countries. The fact that it has been ratified by nine of the world’s ten largest exporters and importers and that it applies to about 80% of the international sale of goods contracts is a sufficient indication of its significance. The Convention prescribes a complex system for termination of contracts taking into account the principle of preservation of the contract as long as possible, so that at first sight there is a surprising possibility of termination of the contract prior to the date of performance. However, if we consider its application, this solution is logical in order to avoid unnecessary costs. The paper presents the solutions of the Convention relating to the right of the buyer to terminate the contract prior to the date of performance of the contract, i.e. the manner, procedure and conditions that must be respected.
Keywords
UN Convention on the Contracts for the International Sale of Goods; CISG; contract; termination of contract
Hrčak ID:
222963
URI
Publication date:
18.7.2019.
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