International Commercial Transactions

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In Brief

Commercial law governs both domestic and international commercial transactions. It covers areas of law such as contracts, torts, the sale of goods, marketing agreements, finance, credit arrangements, transportation, insurance, competition, intellectual property, tax law and customs.

When we deal with an international sale of goods, the considerations become even wider as we need to consider contract law, established customs and usage, national legislation of both the country of export and that of import, European law and international conventions.

 An agreement for the international sale of goods involves goods being sold and shipped by sea, road, rail, or air to another destination in a different country. Both parties to the transaction will be taking steps to protect themselves against the risks involved in international trade such as risks in transport, financial risks, and force majeure.

There is no one size fits all and therefore to avoid or minimize risks, practitioners need to look at each case to determine the best risk management strategy for their particular clients. Effective drafting of clauses in agreements, insurance policies and secure cost-effective payment methods are just as important as choosing the best business model and partners.

What’s in this module? 

International Commercial Agreements >> learn about how sales agreements and how they are enforceable internationally    

International Carriage of Goods >> study the different documents needed for the international transportation of goods, the different insurance options available to protect the goods and the relevance of the Incoterms

Agency and Distribution Agreements >> examine the different types of business models for taking goods to market, learn basic rules for drafting and remedies for breach of international contract

Finance and Security>> learn how to finance and secure payment in international agreements including through letters of credit

  • Exercises
  • Case Study – When is a contract made ? 
    • A Precedent -making case in common law
      • details and judgement
      • why the case is important
  • Writing Corner
    • Writing an advice for a client on a distribution agreement
    • Advice from a solicitor on forms of payment