Data
- Date:
- 15-04-1994
- Country:
- Russian Federation
- Number:
- 1/93
- Court:
- Tribunal of Int'l Commercial Arbitration at the Russian Federation Chamber of Commerce
- Parties:
- Unknown
Keywords
AVOIDANCE OF CONTRACT - SELLER'S FAILURE TO DELIVER THE GOODS - BUYER'S RIGHT TO AVOIDANCE
EFFECTS OF AVOIDANCE (ART. 81(2) CISG) - SELLER'S DUTY TO REFUND THE PRICE PAID
INTEREST - RIGHT TO INTEREST IN CASE OF REFUND OF PRICE PAID (ARTS. 78 AND 84 CISG) - INTEREST RATE OF THE BUYER'S COUNTRY - ACCRUAL FROM DATE OF PAYMENT OF PRICE
Abstract
The Tribunal found that the contract made between the seller and the buyer had been performed by the buyer who had paid the price for the goods agreed in the contract. The seller had confirmed by fax that it had received payment of the price. Nevertheless, the seller had not delivered the goods. The buyer had sent several requests to the seller to perform its obligation. Having received neither an answer from the seller nor the goods, the buyer had sent the seller a telex message declaring the contract avoided.
The buyer, with reference to Art. 81(2) CISG, had also claimed restitution of the sum paid as the price of the goods under the contract. With reference to Art. 78 and Art. 84(1) CISG the buyer had claimed interest on the price to be refunded.
The Tribunal decided in favor of the buyer and ordered the seller to refund the price paid for the goods and to pay interest on this sum at the rate established by the law of the buyer's country. The time period within which interest was to be paid was determined as starting from the date of the payment of the price of the goods until the actual date payment of the debt.
Fulltext
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Source
Original in Russian:
- Unpublished
Source:
A.S. Komarov, President of the Tribunal of International Commercial Arbitration at the Russian Federation Chamber of Commerce, Moscow}}