LEGISLATIVE HISTORY

CISG ANTECEDENTS

Match-up of CISG Article 78 with ULIS provisions

The approach of ULIS Article 83 (setting forth a specific interest rate) was rejected by the drafters of the CISG.

     CISG Article 78                  ULIS Article 83 
                                               
If a party fails to pay the    Where the breach of contract 
price or any other sum that    consists of delay in the payment 
is in arrears, the other       of the price, the seller shall in 
party is entitled to interest  any event be entitled to interest 
on it, without prejudice       on such sum as is in arrear at a 
to any claim for damages       rate equal to the official discount 
recoverable under              rate in the country where he has 
article 74.                    his place of business or, if he 
                               has no place of business, 
                               his habitual residence, plus 1%.