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International trade (incoterms)

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This presentation is about international trade law, history of international trade and today's situation in this direction.

This presentation is about international trade law, history of international trade and today's situation in this direction.

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  • 1. International Trading International Black Sea University Legal Environment of Business Business Management Faculty , By: Nino Bazhunaishvili
  • 2.            International trade International trade law Overview Lex mercatoria & Lex maritima WTO - Scope of WTO Principles of WTO Largest countries by total international trade Importance of international trade INCOTERMS in international trade Rules for any modes of transport Rules for sea and inland waterway transport Allocations of costs buyer/seller according to Incoterms 2010
  • 3. International trade - Is the exchange of capital, goods and services across international borders.
  • 4. Industrialization Advanced transportation Multinational corporation
  • 5. • International trade law includes the appropriate rules and customs for handling trade between countries. • This branch of law is now an independent field of study as most governments has become part of the world trade, as members of the (WTO).
  • 6. • International trade law should be distinguished from the broader field of International economic law. The body of rules for transnational trade derives from medieval commercial laws Lex marcatoria Lex maritima
  • 7. • International Trade Law is an aggregate of legal rules of “international legislation” and new lex mercatoria, regulating relations in international trade. • .“International legislation” – treaties and acts of international intergovernmental organizations regulating relations in international trade.
  • 8. In 1995, the World Trade Organization, a formal international organization to regulate trade, was established. It is the most important development in the history of international trade law.
  • 9. Scope of WTO a) provide framework for administration and implementation of agreements; b) forum for further negotiations; c) trade policy review mechanism and d) promote greater coherence among members economics policies
  • 10. • (a) principle of non-discrimination (mostfavoured-nation treatment obligation and the national treatment obligation) • (b) market access (reduction of tariff and nontariff barriers to trade) • (c) balancing trade liberalisation and other societal interests • (d) harmonisation of national regulation (TRIPS agreement, TBT agreement, SPS agreement)
  • 11. International Rank Country Trade of Goods (Billions of USD) - World Date of information 36,534.0 2012 est. - European Union 4,468.6 2012 est. 1 United States 3,882.4 2012 est. 2 China 3,866.9 2012 est.
  • 12. 3 Germany 2,575.7 2012 est. 4 Japan 1,684.4 2012 est. 5 Netherlands 1,247.4 2012 est. 6 France 1,243.9 2012 est. United 7 Kingdom 1,149.4 2012 est. 8 South Korea 1,067.5 2012 est. 986.9 2012 est. 947.9 2012 est. 9 Italy 10 Hong Kong
  • 13. 11 Canada 917.3 2012 est. 12 Belgium 882.0 2012 est. 13 Russia 864.7 2012 est. 14 Singapore 788.1 2012 est. 15 India 779.4 2012 est. 16 Mexico 751.4 2012 est. 17 Spain 624.9 2012 est. 18 Taiwan 571.8 2012 est. 19 Saudi Arabia 529.8 2012 est. 20 Australia 518.2 2012 est.
  • 14. Rank Country - World International Trade of Services (Billions of USD) Date of information 8,452.6 2012 est. - European Union 1,465.8 2012 est. 1 United States 1,019.7 2012 est. 2 Germany 539.7 2012 est. 3 China 471.0 2012 est. 4 United Kingdom 453.9 2012 est. 5 France 379.2 2012 est. 6 Japan 313.4 2012 est. 7 India 272.8 2012 est. 8 Singapore 9 Spain 250.1 229.3 2012 est. 2012 est. 10 South Korea 214.2 2012 est. 11 Italy 209.1 2012 est.
  • 15. • Primary means of realizing the benefits of globalization • Continuing reallocation of manufacturing activities. • Intertwined with another elements of globalization • Trade supported by WTO that creating a commercial environment more conductive to the multilateral exchange of goods and services.
  • 16. • INCOTERMS are designed to create a bridge between different members of the industry by acting as a uniform language they can use. The Incoterms® rules are an internationally recognized standard and are used worldwide in international and domestic contracts for the sale of goods. First published in 1936, Incoterms® rules provide internationally accepted definitions and rules of interpretation for most common commercial terms.
  • 17. RULES FOR SEA AND INLAND WATERWAY TRANSPORT • • • • FAS Free Alongside Ship FOB Free On Board CFR Cost and Freight CIF Cost, Insurance and Freight
  • 18. Allocations of costs buyer/seller according to Incoterms 2010 Export Incoter Custo m ms 2010 declar ation Carria ge to port of export Unloa ding of truck in port of export Loadin g charge s in port of export Carria ge (Sea Freigh t/Air Freigh t) to port of import Unloa ding charge s in port of import Loadin g on truck in port of import Carria Import ge to place Insura custo Import ms nce cleara taxes of destin nce ation EXW Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer FCA Seller Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer Buyer FAS Seller Seller Seller Buyer Buyer Buyer Buyer Buyer Buyer Buyer FOB Seller Seller Seller Seller Buyer Buyer Buyer Buyer Buyer Buyer
  • 19. ExportUnloadi Custom Carriag ng of e to truck in Incoter s m 2010 declara port of port of export export tion Loadin g charge s in port of export Carriag e (Sea Freight/ Air Freight) to port of import Unloadi ng charge s in port of import Loadin Carriag Import e to g on custom Import truck in place Insuran s ce of port of destina clearan taxes import ce tion CFR Seller Seller Seller Seller Seller Seller Buyer Buyer Buyer Buyer CIF Seller Seller Seller Seller Seller Seller Seller Buyer Seller Buyer Buyer CPT Seller Seller Seller Seller Seller Seller Seller Seller CIP Seller Seller Seller Seller Seller Seller Seller Seller Seller Buyer Buyer DAT Seller Seller Seller Seller Seller Seller Seller Seller Buyer Buyer DAP Seller Seller Seller Seller Seller Seller Seller Seller Buyer Buyer DDP Seller Seller Seller Seller Seller Seller Seller Seller Seller Seller Buyer Buyer
  • 20. • • • • • • • • • • • • http://www.wto.org/english/res_e/statis_e/short_term_stats_e.htm https://en.wikipedia.org/wiki/International_trade#Largest_countries_by_total_i nternational_trade http://www.fita.org/webindex/browse.cgi/International_Trade_Lawyers_and_R esources/International_Trade_Law http://www.worldtradelaw.net/ http://www.uncitral.org/ http://www.uncitral.org/pdf/english/texts/procurem/ml-procurement/mlprocure.pdf http://www.lawyers-greece.co.uk/incoterms.html http://www.foreign-trade.com/reference/incoterms.cfm http://en.wikipedia.org/wiki/Incoterms http://www.iccwbo.org/products-and-services/trade-facilitation/incoterms2010/ http://www.iccwbo.org/products-and-services/trade-facilitation/incoterms2010/the-incoterms-rules/ http://www.acegroup.com/us-en/businesses/incoterms.aspx