Arbitral Tribunal's Interpretation Criticized for Undermining Fixed Rate Contract's Purpose to Mitigate Price Fluctuation Risks.

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Full Text of the Document

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....The contract was based on a fixed rate. The party, before entering the tender process, entered the contract after mitigating the risk of such an increase. If the purpose of the tender was to limit the risks of price variations, then the interpretation placed by the Arbitral Tribunal cannot be said to be possible one, as it would completely defeat the explicit wordings and purpose of the contract.....