Preamble I, Purposes, legal nature, and scope of the PICC; applicability by courts; use of the PICC for the purpose of interpretation and supplementation and as a model

Abstract

This commentary focuses on Preamble I of the UNIDROIT Principles of International Commercial Contracts (PICC). In particular, it discusses the purposes, legal nature, and scope of the PICC as a restatement, as a model, as effective law, and as a background law. It also explains the applicability of the PICC by courts, focusing on the function of paragraphs 2–4 of the Preamble; applicability as law chosen by the parties; the PICC as general principles of law or lex mercatoria; applicability without a choice by the parties; and application where choice of law rules do not yield results. Preamble I also addresses the use of the PICC for purposes of contractual interpretation and supplementation and as a model for legislation, contract drafting, mediation and conciliation, and legal education.