The Unidroit-Principles of International Commercial Contracts are already able to look back on a long history. In 1980 the Governing Council of Unidroit established a working group that after fourteen years of labour produced the Principles of International Commercial Contracts in 1994. Adopting the format of a statutory codification, the principles encompassed the areas of contractual formation, contractual validity (including mistake), interpretation and content of contracts, performance, non-performance and remedies for non-performance. Since their publication, the Unidroit Principles have received a considerable amount of international attention. However, the 1994 Principles do not cover the entirety of contract law. Consequently, in 1997 the Governing Council set up a further working group which drafted additional principles in the areas of set-off, assignment of rights, transfer of obligations, assignment of contracts, limitation periods, authority of agents and third party rights. Even as a 2004 concluding resolution finalised the newly created Unidroit Principles of International Commercial Contracts, the decision was made to continue forward. As such, in 2005 a new working group was commissioned towards the end of incorporating the following topics into the Principles:
 
Unwinding of Failed Contracts
Illegality
Plurality of Obligors and of Obligees
Conditions
Termination of Long-term Contracts for Just Cause
 
In its first session from May 29 to June 1, 2006, the working group discussed the five areas proposed for inclusion in the Unidroit-Principles and assigned to each a reporter who was given the responsibility of drafting a proposed provision along with explanatory commentary. The reporters are Reinhard Zimmermann for unwinding of failed contracts, Michael P. Furmston for illegality, Marcel Fontaine for plurality of obligors and of obligees, Bénédicte Fauvarque-Cosson for conditions and François Dessemontet for termination of long-term contracts for just cause.
 
The drafts of the reporters were discussed at the session of the working group from June 4-8, 2007.