Art. 47 CISG
(1) The buyer may fix an additional period of time of reasonable length for performance by the seller of his obligations.
(2) Unless the buyer has received notice from the seller that he will not perform within the period so fixed, the buyer may not, during that period, resort to any remedy for breach of contract. However, the buyer is not deprived thereby of any right he may have to claim damages for delay in performance.
The Secretariat Commentary on Art. 43 of the 1978 New York Draft, predecessor to Art. 47 CISG, gives insight into the drafters' unterstanding on the eve of the 1980 Vienna Diplomatic Conference.
Overview of case law on Art. 47 CISG: UNCITRAL Digest
The UNCITRAL Digest on the CISG can be used as a starting point to discover the relevant case law on this article.