Under Swiss Law can a party avoid performance if the market price for the commodity increases or decreases after conclusion of the contract in case of absence of the price adjustment clause? please refer to icc arbitration awards if you have any.
Frank Emmert
Yes, if the price change was unforeseeable and drastic... you can look this up under the concept of clausula rebus sic stantibus. See, for example, http://www.whitecase.com/idq/winter_2008_1/
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Ayyoub Mansouri Razi
thank u dear Frank. please see icc arbitration award no 2508 in which an increase in contractual price up to 50 % didn't justify refusing performance by the seller under Swiss law. have u seen any award or sentence that contradicts the argument of this award?
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