International Commercial Arbitration, Contract Law
Goal 8, Goal 9, Goal 17
Founded in 1919, the International Chamber of Commerce resolves commercial disputes, gives advice and assists businesses around the world. On the other hand, the ICC International Court of Arbitration resolves difficulties in international commercial and business disputes in order to support trade and investment.
This year, the ICC Court of Arbitration will resolve the dispute concerning the explosion of the rocket. The dispute will be resolved accordingly to the The United Nations Convention on Contracts for the International Sale of Goods (the CISG). Rocket producer and launcher Starleo received an order from the Bosnian government to launch its satellite. Metalius, a company that signed 10-year contract with Starleo in 2016, provided the company with aluminium-lithium alloy to produce the rocket. However, the rocket exploded at the 15th second of the launch. The result of the investigation showed that the only reason behind the explosion is the defective nature of the materials. For this reason, Starleo terminated the contract with Metalius accordingly to the CISG. Metalius claimed that the termination of the contract is unlawful since there is no fundamental breach, which is essential for the existence of the right of the termination.