- •Payment on open account
- •Advance payment
- •Cash against documents - cad
- •Documentary collection
- •Advocate for international business
- •Setting rules and standards
- •What is incoterms and what is its role in contracts of international sale?
- •What does exw mean?
- •Uncitral Arbitration Rules (1976)
- •Icc arbitration rules and arbitration clause
- •The development of the modern international commercial law doctrine from ancient lex mercatoria
- •Unidroit and its role in development of modern international commercial law
- •International agreements as a source of international commercial law
- •International organisations and multilateral international treaties in sphere of international commerce
- •Definition of lex mercatoria and use of lex mercatoria in modern international commerce
- •Unidroit Principles on International Commercial Contracts
- •Main principles of international commercial law reflected in the unidroit principles
- •Force majeure doctrine
Advocate for international business
I
ICC's advocacy has never been more relevant to the interests of thousands of member companies and business associations in every part of the world.
Equally vital is ICC's role in forging internationally agreed rules and standards that companies adopt voluntarily and can be incorporated in binding contracts.
ICC provides business input to the United Nations, the World Trade Organization, and many other intergovernmental bodies, both international and regional.
ICC activities cover a broad spectrum, from arbitration and dispute resolution to making the case for open trade and the market economy system, business self-regulation, fighting corruption or combating commercial crime.
ICC has direct access to national governments all over the world through its national committees. The organization's Paris-based international secretariat feeds business views into intergovernmental organizations on issues that directly affect business operations.
Setting rules and standards
Arbitration under the rules of the ICC International Court of Arbitration is on the increase. Since 1999, the Court has received new cases at a rate of more than 500 a year.
ICC's Uniform Customs and Practice for Documentary Credits (UCP 600) are the rules that banks apply to finance billions of dollars worth of world trade every year.
ICC Incoterms® are standard international trade definitions used every day in countless thousands of contracts. ICC model contracts make life easier for small companies that cannot afford big legal departments.
ICC is a pioneer in business self-regulation of e-commerce. ICC codes on advertising and marketing are frequently reflected in national legislation and the codes of professional associations.
The World Chambers Congress, also biennial, provides a global forum for chambers of commerce.
Regular ICC regional con-ferences focus on the concerns of business in Africa, Asia, the Arab World and Latin America.
What are the essential elements\essentialia negotii of the international commercial contract?
Essential elements or essentialia negotii of the international commercial contract are the fundamental elements of the contract - terms without which the contract would have no sense and would not exist. An offer and acceptance must contain essential elements of the contract on international sales of goods to be recognised as concluded an valid contract
What are the essential elements of the contracts of international sale of goods?
Legally, there are five essential elements of a sales contract:
-Subject of the contract - the goods (name etc)
- Specification of merchandise - the quality
- Number of individual items / units ordered - the quantity
- The purchase price (per unit and total) and payment conditions\modalities (cash in advance, during transport (C.A.D.), at time of delivery (C.O.D.), and after delivery (Open Account), Type of payment possibilities: Cash, check, wire transfer, draft, Letter of Credit).
- Transportation\delivery terms according to INCOTERMS
The combination of the general order details, transport terms and payment terms make up the final price of the merchandise traded. These conditions should be included into single written document - a formal contract of sale (written contract), or an offer and acceptance (a purchase order signed by the buyer and an order acknowledgment countersigned by the buyer) and confirmed by the pro forma invoice.