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transnational law transnational law (lex mercatoria or international business law) and "Early performance" 2020-05-25 13:38:56

No. V.1.3 - Early performance

(a) A party may decline a tender of performance made before it is due except where acceptance of the tender would not unreasonably prejudice its interests.

(b) A party's acceptance of early performance does not affect the time fixed for the performance of its own obligation. 

1 If the parties have agreed on a specific time or period of time of performance or if that time is determined pursuant to Principle IV.1.2, the creditor is entitled to reject earlier performance by the debtor, because that earlier performance would violate the agreement of the parties or the law.

2 However, as any other right, the creditors right of rejection is subject to the general Principle of good faith. The creditor may therefore not reject earlier performance by the debtor if that rejection must be qualified as the exercise of a mere formal legal position, because the creditor's interests would not unreasonably prejudice by the debtor's premature performance.

3 Subsection (b) provides that if the creditor accepts a debtor's premature performance voluntarily or under Subsection (a), the time for the performance of its own obligation is not affected by that acceptance.

Please cite as: "Commentary to Trans-Lex Principle , "
International Legislation
Model Laws
National Legislation
Principles / Restatements
Contract Clauses
1. Contractual Clause Allowing Early Performance
Sales & Purchase Contract
Delivery Term

Delivery times are dependent upon prompt receipt by the Seller of all Purchaser-furnished material, information and approvals, if any, necessary to proceed with work without interruption. Early deliveries are permitted. However, if the Seller is aware of the likelihood of early deliver it shall provide {X} days of notice by electronic mail or fax prior to the shipment - (International Contracting: Law and Practice - Larry A. DiMatteo - 3.05 - S. 63).

Loan Contract

Prepayment of the principal and all accrued interest on this Note shall be allowed with the consent of Holder, and any such prepayment shall be applied first to interest accrued but unpaid to such date on the outstanding principal balance hereof immediately preceding such prepayment and then to reduction of the principal balance hereof.

2. Contractual Clause Prohibiting Early Performance
Sales & Purchase Contract
Timely Performance

(...) Unless Purchaser has authorized advance shipment in writing, Purchaser may store at Seller's expense, or return, shipping charges collect, all goods received in avance of the scheduled delivery date - (International Contracting: Law and Practice - Larry A. DiMatteo - 6.05 (A) - S. 208).

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