paid (Art. 6). In the absence of such an agreement, whether the parties have established any practices between themselves in this regard, agreed on any usages (Art. 9(1)) or are other-wise bound by international commercial usages (Art. 9(2)) must be examined. If neither an agreement, nor any practices or usages to which the parties are bound exist, Art. 7(2) CISG applies. 2. Comparison with other legal provisions

doi:10.4324/9780203945445-147

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paid (Art. 6). In the absence of such an agreement, whether the parties have established any practices between themselves in this regard, agreed on any usages (Art. 9(1)) or are other-wise bound by international commercial usages (Art. 9(2)) must be examined. If neither an agreement, nor any practices or usages to which the parties are bound exist, Art. 7(2) CISG applies. 2. Comparison with other legal provisions

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ABSTRACT

PECL Art. 7:108. (1) The parties may agree that payment shall be made only in a speciﬁed currency. (2) In the absence of such agreement, a sum of money expressed in a currency other than that of the place where payment is due may be paid in the currency of that place according to the rate of exchange prevailing there at the time when payment is due. (3) If, in a case falling within the preceding paragraph, the debtor has not paid at the time when payment is due, the creditor may require payment in the currency of the place where payment is due according to the rate of exchange prevailing there either at the time when payment is due or at the time of actual payment.