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Incoterms and CISG NUDRAT MUFTI

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INCOTERMS And CISG, (CONTRACT FOR THE INTERNATIONAL SALE OF GOODS)
LAW8118-INTERNATIONAL BUSINESS LAW
Examines the impact of the law on the enterprises that conduct international business and on particular transactions entered into by such enterprises. The law concerning the formation and some other aspects of international sales contracts especially pursuant to the CISG as well as the law relating to the international transport of goods by sea and international payments (documentary credits) will be examined. The course will also explore selected legal aspects of one particular regional grouping (namely the European Union). In addition, a study will be made of the law concerning some of the methods by which private international legal disputes are resolved with the focus being on international commercial arbitration.

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Incoterms and CISG NUDRAT MUFTI

  1. 1. INCOTERMS And CISG (Contracts For The International Sale Of Goods) (Global Business Management) International Business Law-NUDRAT MUFTI
  2. 2. INTRODUCTION 1.AStudyOfInternationalBusinessInvolvesAnLegalEnvironmentInWhichSuch BusinessIsConducted. 2.TheLawImpactsNotOnlyOnTransactionsWhichHaveATransnationalAspectBut AlsoOnTheMethodsAndStructuresThroughWhichAnOrganization. 3.Modulesrelevanttointernationaltradelaw,businesslaw,competitionlaw,corporate governance,intellectualpropertyandmarketregulation. 3.ForExample,OneBasedInGermany,MayConductBusinessOverseas. -FailureToAppreciateTheLegalConsequencesOfParticularPractices -TransactionsCanHaveAnAdverseEffectOnTheOperationsOfAnEnterprise EngagingInInternationalBusiness. -BreachOfContract
  3. 3. Latest Scenario • No Economic Boundaries • Remaining Will Continue To Diminish. • Business Professionals • International Influences. • Progress In A Career In Business, • Understanding The Managerial, Legal And Cultural Intricacies Of Doing Business With Partners From Other Countries In Or Outside. • Need To Understand And Search Potential International Business Partners • The Culture, Tradition And Business Practices Of Current Partners
  4. 4. 1. INCOTERMS And CISG - governed Contracts For The International Sale Of Goods (In 1980 the United Nations Convention on Contracts for the International Sale of Goods ('the CISG') was introduced to create international certainty and uniformity in the law and to govern issues that arise in an international sale of goods transaction. ) 2. International Transport Of Goods By Sea. 3. International Payments (Documentary Credits) 4. Regional Groupings - The European Union 5. International Dispute Resolution
  5. 5. AREAS Impact Of The Law On The Enterprises Conducting International Business Kind of Transactions Entered Into By Such Enterprises. The Law Concerning The Formation And Some Other Aspects Of International Sales Contracts Examine The Law Relating To The International Transport Of Goods By Sea And International Payments (Documentary Credits). Explore The Legal Aspects Of One Particular Regional Grouping (The European Union). Law Concerning Some Of The Methods By Which Private International Legal Disputes Are Resolved With The Focus Being On International Commercial Arbitration.
  6. 6. FOCUS Applied Knowledge Of The Law Relating To The Common Forms Of Contracts Used In International Sales Transactions Applied Knowledge Of The Law And Legal Ramifications Associated With The International Transportation Of Goods By Sea Demonstrate Applied Knowledge Of How International Payments Are Effected By Documentary Credits And Some Of The Relevant Legal Issues Associated Therewith Demonstrate An Understanding Of The Changes Brought About By The European Union (EU) - And Its Legal Order Identify Complex Problems Regarding The Main Methods By Which Private International Legal Disputes Are Resolved Especially Transnational Litigation And International Commercial Arbitration Creatively And Practically Problem-solving Skills Appropriate To International Business Law Satisfactory Skills In Communication Cultural Literacy Skills By Understanding The International Legal Context For Conducting Business.
  7. 7. Trade Terms -When Negotiating Sales Contract • Internationally Used • Both Parties • Seller/Buyer • ICC • No Official Status Or Automatic Legal Status • Only Binding If Adapted By Reference(example: FOB Brisbane, Australia ,Intercom2010 • Several Sets • 1963-first • 2010-lates
  8. 8. Example: FOB • Free on Board» means that the seller delivers when the goods pass the ship's rail at the named port of shipment. • This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. • The FOB term requires the seller to clear the goods for export. T • his term can be used only for sea or inland waterway transport. • If the parties do not intend to deliver the goods across the ship's rail, the FCA term should be used.
  9. 9. Incoterms 2010 APPLY TO CONTRACT OF SALE NOT TO CONTRACT OF CARRIAGE
  10. 10. Incoterms 2010 establish-EXAMPLE A1 Provision of goods in conformity with the contract B1 Payment of the price A2 Licenses, authorizations and formalities B2 Licenses, authorizations and formalities A3 Contracts of carriage and insurance B3 Contracts of carriage and insurance A4 Delivery B4 Taking delivery A5 Transfer of risks B5 Transfer of risks A6 Division of costs B6 Division of costs A7 Notice to the buyer B7 Notice to the seller A8 Proof of delivery, transport document or equivalent electronic message B8 Proof of delivery, transport document or equivalent electronic message A9 Checking - packaging - marking B9 Inspection of goods
  11. 11. Division By Rules • S makes goods available at own premisesE • S deliver goods to a carrier appointed by buyerF • S contracts for carriage without assuming risk of loss during shipmentC • S bears all costs and risks needed to bring goods to place of destinationD
  12. 12. Common Intercoms CIF Cost, Insurance , Freight FOB Free on Board
  13. 13. Incoterms 2010 Enforce January 1,2011 Rules-Two classes Any mode of Transport Sea/ Inland Water Way Transport
  14. 14. Incoterms 2010 Rules-Two classes Any mode of Transport F2C3D3 • EXM • FCA • CPT • CIP • DAT • DAP • DDP Sea/ Inland Water Way Transport F2C2 • FAS • FOB • CFR • CIF
  15. 15. ANY Mode of Transport • Ex worksEXW • Free CarrierFCA • Carriage Paid ToCPT • Carriage And Insurance Paid ToCIP • Delivered at TerminalDAT • Delivered at PlaceDAP • Delivered Duty PaidDDP
  16. 16. RULES FOR SEA AND INLAND WATERWAY TRANSPORT • Free Alongside ShipFAS • Free On BoardFOB • Cost and FreightCFR • Cost Insurance and FreightCIF
  17. 17. but also • Contract may not be governed by/solely by IC-2010 • IC-2010 don't take the place of a sales agreement or the term and condition of same • Don't supply all the terms for an international sale • Trade terms generally for some general background and context! (CHUAH) (REED SMITH COMMENTARY) (USQ- LIBRARY)
  18. 18. Common Terms • CFR — Cost and Freight • CIF — Cost, Insurance and Freight • CIP — Carriage and Insurance Paid Тo • CPT — Carriage Paid To • FCA — Free Carrier • FOB — Free On Board • DDU — Delivered Duty Unpaid • DES — Delivered Ex Ship • DEQ — Delivered Ex Quay • DAF — Delivered At Frontier • DAP — Delivered at Place • DDP — Delivered Duty Paid • DAT — Delivered at Terminal • EXW — EX Works • FAS — Free Alongside Ship
  19. 19. Incoterms 2010 • http://www.reedsmith.com/INCOTERMS-2010--What-you- need-to-know-Part-1-10-06-2010/ • http://www.reedsmith.com/INCOTERMS-2010--What-you- need-to-know-Part-2--11-03-2010/ • http://www.reedsmith.com/INCOTERMS-2010--What-you- need-to-know-Part-3-12-08-2010/

INCOTERMS And CISG, (CONTRACT FOR THE INTERNATIONAL SALE OF GOODS) LAW8118-INTERNATIONAL BUSINESS LAW Examines the impact of the law on the enterprises that conduct international business and on particular transactions entered into by such enterprises. The law concerning the formation and some other aspects of international sales contracts especially pursuant to the CISG as well as the law relating to the international transport of goods by sea and international payments (documentary credits) will be examined. The course will also explore selected legal aspects of one particular regional grouping (namely the European Union). In addition, a study will be made of the law concerning some of the methods by which private international legal disputes are resolved with the focus being on international commercial arbitration.

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