When approving at its 83^rd session (2004) the 2004 edition of the Principles of International Commercial Contracts, the UNIDROIT Governing Council recommended that the Principles become an ongoing project on the Institute’s Work Programme.

At its 84^th session (2005) the Governing Council set up a new Working Group with the task of preparing a third edition of the UNIDROIT Principles to include the following new topics:

(a) unwinding of failed contracts;
(b) illegality;
(c) plurality of obligors and of obligees;
(d) conditions;
(e) termination of long-term contracts for just cause.