The Quarterly Journal of Judicial Law Views

The Quarterly Journal of Judicial Law Views

Price Determination in CISG

Author
azam ansari
ferdowsi University of Mashhad
Abstract
The determination of price is one of the most important conditions in concluding the sale contract. Nevertheless nowadays for many different reasons such as price fluctuations and non-ability to specify all the conditions by the parties in advance, the traders prefer the contractual flexibility, especially open price in sale contracts. Although the lawyers over the world consider some advantages for non-determining the price in time of conclusion of the contract, the lawmakers haven’t adopted the same approach about this issue. In this respect, due consideration shall be given to CISG’s view about open price, because it seems there is a contradiction between Arts. 14 and 55 of CISG about price determination. This essay relying on the analysis of the text of CISG and corresponding case law shows that Arts 14 and 55 are consistent with each other and that under CISG fixation relying on party autonomy it is possible to conclude an agreement without a fixed and definite price or without a mechanism for the price
Keywords
international sale
contractual flexibility
Open price
party autonomy
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