Pacta Sunt Servanda

In its most common sense, it refers to private Contract s, stressing that contained pacts and Clause s are Law between the parties, and implies that the non-fulfilment of respective Obligation s is a breach of the pact. The general principle of correct behaviour in commercial praxis, that also implies the ''bona fide'', is a requirement for the efficacy of the whole system, so the eventual disorder is sometimes punished by the law of some systems even without a direct damage suffered by any of the parties.

With reference to international agreements, "every Treaty in force is binding upon the parties to it and must be performed by them in Good Faith " (in the words of the Vienna Convention On The Law Of Treaties , 1969, art. 26, and the Vienna Convention On The Law Of Treaties Between States And International Organizations Or Between International Organizations , 1986, art. 26).

The rule of pacta sunt servanda is based on Good Faith ; this entitles states to require that Obligations be respected and to rely upon the obligations being respected. This Good Faith basis of treaties implies that a party to the Treaty cannot invoke provisions of its Domestic Law as justification for a failure to perform.

The only limit to pacta sunt servanda is Jus Cogens ; ie. preemptive norms of general International Law .

Information About

Pacta Sunt Servanda