Document-Id: 929000, Please cite as: "https://www.trans-lex.org/929000"
Title
IV.6.2 - Subsequent fixing of contract price
Content
No. IV.6.2 - Subsequent fixing of contract price
If the contract does not contain a provision fixing the price or a method for determining it, the parties are to be treated, in the absence of any indication to the contrary, as having agreed to the price generally charged at the time of the conclusion of the contract for such performance in comparable circumstances in the trade concerned, or, if no such price is available, to a reasonable price.
Commentary
1 The Principle is based on the assumption that a contract can be concluded between the parties even though the price for one party's performance has not yet been fixed.
2 If it is clear in such a scenario that the parties wanted to conclude the contract even absent the price stipulation, they are treated as having agreed to the price generally charged at the time of the conclusion of the contract for such performance in comparable circumstances in the trade concerned unless the circumstances indicate otherwise.
3 If the contract is unique or there are other reasons why no such market price is available, then the parties are treated as having agreed to a reasonable price.
2 If it is clear in such a scenario that the parties wanted to conclude the contract even absent the price stipulation, they are treated as having agreed to the price generally charged at the time of the conclusion of the contract for such performance in comparable circumstances in the trade concerned unless the circumstances indicate otherwise.
3 If the contract is unique or there are other reasons why no such market price is available, then the parties are treated as having agreed to a reasonable price.
References
National Legislation
Bürgerliches Gesetzbuch - German Civil CodeContract Law of the People's Republic of ChinaContract Law of the People's Republic of ChinaCzechoslovak International Trade CodeLouisiana Civil Code 2015Russian Civil CodeDoctrine
Giardina, Andrea, La determinazione del prezzo nei contratti internazionali, Riv. dir. int. e proc. 1993, 283Marrella, Fabrizio, La nuova lex mercatoria, Principi Unidroit ed usi di contratti des comercio internazionale, CEDAM, Tratto di dritto commerciale e di dritto publico dell‘economia, Volume 30, Padova 2003Schlechtriem, Peter (ed.), English Commentary on the UN Convention on the International Sale of Goods (CISG), Comment on Art. 55 by Günter Hager, Oxford 1998Witz, Wolfgang, Der unbestimmte Kaufpreis, Neuwied, Frankfurt a.M. 1989Arbitral Awards
ICC No. 7819, Rivista dell‘Arbitrato at 130International Legislation
Organization for the Harmonization of Business Law in Africa (OHADA), Uniform act relating to general commercial lawUnited Nations Convention on Contracts for the International Sale of Goods (CISG)Principles / Restatements
Principles of European Contract Law - PECLUNIDROIT Principles of International Commercial Contracts 2016Model Laws
The Draft Civil Code for Israel in: Siehr, Kurt/Zimmermann, Reinhard (ed.) The Draft Civil Code for Israel in comparative perspective, 2008Uniform Commercial Code (USA)