André Corterier A New Approach to Solving the Interest Rate Problem of Art 78 CISG

Article 78 of the United Nations Convention for the International Sale of Goods (CISG)2 provides for interest any time a payment under a contract is untimely, but does not specify a particular rate of interest or a method to determine such a rate. This is especially troubling, because Art 78 CISG mandates an obligation to pay interest every time a payment is in arrears, without regard to fault.