English Commercial Law - International treaties and conventions relating to good faith.
Although good faith is mentioned in every international private law treaty we have examined, none of them provide a definition of it: CISG. There is no requirement that the parties act in good faith. However, Article 7 stipulates that consideration should be given to the practice of good faith in international trade in its interpretation. In accordance with Article 1.7 of the PICC, the parties are required to act with good faith and fair dealing and are not permitted to contract out of this requirement. PECL. Article 1:201 again indicates that the responsibility of good faith and fair conduct cannot be excluded or limited by the parties and that they must act accordingly. UCC. The parties' duty of good faith is referred to in Section 1-302 of the UCC, and they are unable to bargain out of it even if the USA is a common law country. However, unless such criteria are plainly irrational, the parties may establish good faith standards among themselves. As a general rule, a common law jurisdiction is more likely to allow commercial parties to make their own provisions in a contract (subject to any specific statutes), whereas a civil law jurisdiction is more likely to allow general principles to supersede specific provisions of what the parties have agreed to.
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