Same Facts, Two Instruments

Interest: what rate?

Facts of the case

• the party fails to pay the price or any other sum that is in arrears
• a question governed by the Convention but not expressly settled in it has arisen under the contract
• the parties have agreed on the UNIDROIT Principles, or the tribunal takes them as the general principles on which the Convention is based
• the contract under the Convention and the contract under the Principles are the same contract
• the obligation arises under the contract and is owed by the party
• a party does not pay a sum of money when it falls due
• an average bank short-term lending rate to prime borrowers exists for the currency of payment at the place for payment

• entitled-to-interest-cisg: Established
• interest-rate-from-principles: Not established
• gap-left-to-applicable-law: Not established
• rate-at-place-of-payment: Established
• rate-in-state-of-currency: Not established
• rate-fixed-by-law-of-currency-state: Not established