International Commercial Arbitration 2013
DOI: 10.1017/cbo9781139519779.016
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Arbitration in Russia: Features of the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation

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“…When concluding contracts for the manufacture and delivery of goods at pre-fixed prices, the seller, for example, assumes the risk of an increase in production costs within normal limits. However, if in the course of extraordinary events, the value of the goods for the seller increases sharply, tenfold, the court can determine that the seller did not assume such a risk, based on the fact that the non-occurrence of the extraordinary event was a "main prerequisite" for the conclusion of the contract (Komarov, 1991). In the considered situation, it is possible to say either that the debtor did not take such a risk, or that the court has the right to remove this risk due to its extreme burden.…”
Section: Change and Termination Of The Contract As A Results Of A Sig...mentioning
confidence: 99%
“…When concluding contracts for the manufacture and delivery of goods at pre-fixed prices, the seller, for example, assumes the risk of an increase in production costs within normal limits. However, if in the course of extraordinary events, the value of the goods for the seller increases sharply, tenfold, the court can determine that the seller did not assume such a risk, based on the fact that the non-occurrence of the extraordinary event was a "main prerequisite" for the conclusion of the contract (Komarov, 1991). In the considered situation, it is possible to say either that the debtor did not take such a risk, or that the court has the right to remove this risk due to its extreme burden.…”
Section: Change and Termination Of The Contract As A Results Of A Sig...mentioning
confidence: 99%