The Governing Council of UNIDROIT at its 90th session adopted on 10 May 2011 the third edition of the Principles of International Commercial Contracts("UNIDROIT Principles 2010"). The UNIDROIT Principles of International Commercial Contracts first published in 1994 and in a second edition in 2004, are taken by legislators worldwide as a model for contract law reform and increasingly used in international contracting and arbitration practice, as well as by the courts to interpret and supplement the applicable domestic law. The UNIDROIT Principles are particularly useful to parties when negotiating and drafting international contracts. The new edition of the Principles, UNIDROIT Principles 2010, prepared by a group of experts from all over the world including representatives of numerous international organizations and arbitration centers. The UNIDROIT Principles 2010 contain new provisions on restitution in case of failed contracts, illegality, conditions, and plurality of obligors and obligees, while with respect to the text of the 2004 edition the only significant changes made relate to the Comments to Article 1.4.