Common Frame of Reference on European Contract Law: Second Progress Report
On 25 July, the European Commission adopted its Second Progress Report on the Common Frame of Reference (CFR), which is aimed at providing a better regulation tool for the Commission and the EU legislators, both when revising existing and preparing new legislation in the area of European contract law.
The report provides an update on the project and highlights the issues discussed at the CFR workshops, including the definition of consumer and professional, unfair contract terms, pre-contractual information, consumer sales and remedies.
Throughout 2006, in the preparation of the CFR, the Commission focused on specific policy needs. In order to ensure timely input in the review of the consumer contract law acquis, priority was given to the issues most relevant for the review.
The CFR work on consumer contract law has, together with the results of other preparatory work, served as a starting point for the Green Paper on the acquis review that the Commission adopted in February 2007.
The researchers working on the project should present their draft CFR by the end of the year. The Commission will then select, in consultation with the other institutions and stakeholders, the parts of the academic draft that are relevant for the common legislative objectives and draft its CFR.
The European Parliament has already expressed itself in favor of the project. The Commission is seeking, through this Second Progress Report, the position of the Council on the remainder of the CFR work.