Where an enterprise makes substantial revisions to some or all of the contractual stipulations of the existing financial liability, it shall terminated the recognition of the existing financial liability or part of it, and at the same time recognize the financial liability after revising the contractual stipulations as a new financial liability.

However, one delegation has expressed the view that provided that the actual shipper is liable, the contractual shipper should be relieved of his liability.

Article 27Where an enterprise (debtor) enters into an agreement with a creditor so as to substitute the existing financial liabilities by way of any new financial liability, and if the contractual stipulations regarding the new financial liability is substantially different from that regarding the existing financial liability, it shall terminate the recognition of the existing financial liability, and shall at the same time recognize the new financial liability.

Where the future cash flow or term of existence of a financial asset or financial liability cannot be predicted reliably, the contractual cash flow of the financial asset or financial liability for the whole term of the contract shall be taken into account.

Some support was also expressed in favour of the two way mandatory approach, according to which no contractual change in the liability of the parties would be allowed.

As to the objection raised by the respondent that some of the issues were non arbitrable, including an allegation of conspiracy to harm all the plaintiffs, the Court observed that the New York Convention and the International Commercial Arbitration Act covered both contractual and non contractual commercial relationships, and that liability in tort was an arbitrable matter, provided that the relationship that created that liability was of a commercial nature.

Under this approach, the contractual decrease of liability of the carrier and of the other parties mentioned in the draft article would not be possible, while its increase would be allowed.

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Contractual arrangements

Contractual terms

(b) The contractual place of receipt or the contractual place of delivery or

B. Contractual arrangements

B. Contractual arrangements

(b) The actual contractual place of receipt or the actual contractual place of delivery or

Contractual limitations on assignments

Contractual services (increase 1,530,100)

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(a) the contractual place of receipt or contractual port of loading is located in a Contracting State, or

(b) the contractual place of delivery or contractual port of discharge is located in a Contracting State, or

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Experiments on a contractual basis

1. Subject to Articles 3 to 5, this Instrument applies to contracts of carriage in which the contractual place of receipt and the contractual place of delivery are in different States, and the contractual port of loading and the contractual port of discharge are in different States, if

Liability insurance

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It was thought that the contractual place of receipt and the contractual place of delivery were preferable in terms of predictability.

The text of draft paragraph 72 (b) should refer to the contractual place of receipt and the contractual place of delivery.

UNCITRAL has contented itself with international contractual obligations, so that the part concerning contractual obligations can be completed as a first step.

(b) Contractual services, by 6.4 million dollars

The provisional definition of the characteristics of OLSAs, as set out in WP.34, does not at present ensure that notional agreement of an OLSA may not be used as a contractual device to circumvent otherwise applicable mandatory liability rules to the detriment of the small shipper.

In contrast, it was observed that draft article 89 (a) was based on a contractual approach, and that under this provision the carrier of live animals was exposed to liability only for reckless actions and omissions and under the additional conditions set forth in the draft provision.

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Such liability is incurred without prejudice to the criminal liability of individuals having committed the offences.

Criminal liability of migrants