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VII. Claimant is under no obligation to restitute full damages under article 74 cisg on the strength of dispositive construction of this article.

A. General damages USD 448 000 are not come under repayment as normal compensatory damage.

B. Respondent does not have to cover damages caused by standard yacht broker commission of 15% for rental cost of M/S Pasifica Star, and USD 50 000 for yacht broker success fee which Claimant paid on top of the commission because they are unreasonable incidental damages.

Index of authorities, cases and awards

  • China International Economic and Trade Arbitration Commission (CIETAC ) Arbitration Rules (http://cn.cietac.org/rules/rules.pdf) –

  • CISG, United Nations Convention on the International Sale of Goods, Vienna, 1980 (http://www.cisg.law.pace.edu/cisg/text/treaty.html)

  • Code of Ethics for Arbitrators in Commercial Disputes (http://www.americanbar.org/content/dam/aba/migrated/dispute/commercial_disputes.authcheckdam.pdf) -

  • IBBA Business Brokerage Standards (http://www.ibba.org/portals/0/pdf/IBBA%20Business%20Brokerage%20Standards.pdf)

  • International Bar Association - IBA Guidelines on Conflicts of Interest in International Arbitration (http://www.ibanet.org/ENews_Archive/IBA_July_2008_ENews_ArbitrationMultipleLang.aspx) –

  • UNCITRAL DIGEST ON PRECEDENT LAW, Commentaries to the article 74

  • UNCITRAL Model Law on International Commercial Arbitration (http://www.uncitral.org/pdf/english/texts/arbitration/ml-arb/06-54671_Ebook.pdf)

  • UNITDROIT Principles of International Commercial Contracts (http://www.unidroit.org/english/principles/contracts/principles2004/integralversionprinciples2004-e.pdf)

Cases

  • Hrvatska Elektroprivreda DD v The Republic of Slovenia (ICSID Case No ARB/05/24) -

  • The Rompetrol Group NV v Romania (ICSID Case No ARB/06/3) -

Abbreviations

& and

/s/ signed

AA application for arbitration

A, art. Article

BGH Bundesgerichthof [Federal Supreme Court—Germany]

CIETAC China International Economic and Trade Arbitration Commission

CISG United Nations Convention on Contracts for the International Sale of Goods of 11 April 1980

Cl. Ex. Claimant’s Exhibit

CLOUT case law of UNCITRAL texts

EWCA England and Wales Court of Appeal

GB Great Britain

i.e. id est [that is]

ICC International Chamber of Commerce

Inc. Incorporated

Ltd. Limited

No. number

p. page

P.O. Clarifications given by the President of the Tribunal in Procedural Order

Para paragraph

U.K. United Kingdom

UNCITRAL United Nations Commission on International Trade Law

UNCITRAL Model Law UNCITRAL Model Law on International Commercial

Arbitration of 1985

UNCTAD United Nations Conference on Trade and Development

USD United States Dollars

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