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What is international commercial law applied for ? And how it's applied between countries ?

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تم إضافة السؤال من قبل sherif hamed , Legal Associate , Horizons and Co Law Firm
تاريخ النشر: 2014/03/28
Muhammad umar khan
من قبل Muhammad umar khan , associate lawyer , Ali salman and associates

International Commercial Law is a body of legal rules, conventions, treaties, domestic legislation and commercial customs or usages, that governs international commercial or business transactions.A transaction will qualify to be international if elements of more than one country are involved.

Lex mercatoria refers to that part of international commercial law which is unwritten, including customary commercial law; customary rules of evidence and procedure; and general principles of commercial law.

 

International commercial contracts are sale transaction agreements made between parties from different countries.

The methods of entering the foreign market, with choice made balancing costs, control and risk, include:

  1. Export directly.
  2. Use of foreign agent to sell and distribute.
  3. Use of foreign distributor to on-sell to local customers.
  4. Manufacture products in the foreign country by either setting up business or by acquiring a foreign subsidiary.
  5. Licence to a local producer.
  6. Enter into a joint venture with a foreign entity.
  7. Appoint a franchisee in the foreign country.

 

This predominantly occurs through legal instruments governing commercial contracts is limited in its scope since it depends upon incorporation into contracts. For any pragmatic effect there must be a degree of uniformity in commercial practice between the contracting parties.

Model Laws promote the unification of international commercial law. Some examples are the UNCITRAL Model Laws on:

  • International Commercial Arbitration.
  • International Credit Transfers 1992 (largely adopted by the EU).
  • Procurement of Goods, Construction and Services 1994.
  • Electronic Signatures.
  • Electronic Commerce 1996.

International organisations that attempt to harmonise international commercial law include:

  • UNCITRAL: Important in the areas of international carriage of goods, international bills of exchange and promissory notes, and international arbitration.
  • UNIDROIT: Important in the area of international financial leasing and sale of goods. Notably UNIDROIT has created the ‘Principles of International Commercial Contracts’ which in the future could provide the source of lex mercatoria.
  • Hague Conference on Private International Law: The organisation drafts conventions in the field of private international law.
  • ICC: Influential in harmonising international contract terms and global arbitration practices.

International Conventions relevant to international sale of goods include:

ERDOĞAN ORAN
من قبل ERDOĞAN ORAN , Head of Department , Presidency of Defence Industries

I always have prepare second alternative provide planning in order to set up sustainable logistics

Ahmed Abou-elfarag Abou-elfarag
من قبل Ahmed Abou-elfarag Abou-elfarag , corporate legal counsel , KDD

sure, you may add a special Article for Arbitration which will control the language, applicable law, location, and the arbitrators.

Gayasuddin Mohammed
من قبل Gayasuddin Mohammed , Advocate , Practicing Law before High Court at Hyderabad

law of contracts and law of arbitration and conciliation are the laws and  through international commercial arbitration clauses. can be applied between the countries entering into the contracts to resolve any disputes amicably. Thanks.

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