International contracts

EENI - Business School.

Subject (Course): International contracts. Vienna Convention. Arbitration. Clauses. Syllabus:

  1. Introduction to International contracts and foreign trade.
  2. Risks in international trade.
  3. Instruments of risk minimization.
  4. Guarantees in foreign trade.
  5. UNCITRAL- United Nations Commission on International trade Law.
  6. United Nations convention on contracts for the international sale of goods (1980) [CISG].
  7. Vienna Convention.
  8. Hague conventions.
  9. Clauses of an international contract.
  10. Anti-corruption clause of the International Chamber of Commerce
  11. Arbitration.
  12. Analysis of international sales contracts
  13. Examples of contracts:
       - International distributor
       - Importer
       - Agent...
  14. Introduction to the Sharia (Islamic law).
  15. Examples of contracts: distributor, importer, broker...

Objectives of the subject - International contracts:

This subject aims at familiarizing the student with International contracts as they are used in international trade transactions.

  1. To learn how to implement the main clauses of an international sales contract and how to minimize risks.
  2. To know the main international institutions and conferences related to the international contracts.
  3. To know how to manage a process of international arbitration.
Subject "International contracts" is studied in:
  1. Master in Foreign Trade and International Marketing
  2. Master Executive in International Business (MIB)
  3. Diploma in International Trade
  4. Course: Internationalization and Investments

Languages of study: En or Fr Contrat En Contratos Pt

Credits of the subject "International contracts": 3 ECTS / 1,5 AC.

Area of knowledge: Foreign trade.

Sample of the subject - International contracts:
International contracts

Anti-corruption Clause of the International Chamber of Commerce
Anti-corruption Clause

Subject description (International contracts):

A contract is a single document, in which the rights and obligations of the exporter and the importer are stipulated. International trade practice shows that the majority of transactions are carried out without signing a contract.

However, it is strongly recommended to establish an International contract of sale for international transactions.

One can avoid doubts and misunderstandings concerning what has been agreed during the negotiation of terms if they are set down in writing.

In certain cases a verbal agreement is legally binding, for example, when an exporter makes a sale at an international fair.

Most foreign trade transactions do not use a formal contract in practice. However, clauses in the commercial invoice and the incorporation of an appropriate Incoterms in the export price as well as national legislation will nevertheless imply certain obligations on the parties. In any case, we recommend using a formal contract.

A standard model contract for international sales has been drafted by the International Chamber of Commerce.

CLAUSES. An international contract is drafted based on the following:
- Regulations and practice of international trade (for example, Incoterms).
- Arbitration in international trade (for example, possible dispute resolution).

Here are the usual clauses of an international contract, however one should call upon the services of a legal advisor in order to produce a well-prepared contract.
- Preamble
- Definitions
- Duties and obligations
- Communication and documentation
- Prices
- Terms of payment
- Penalties
- Force majeure
- Official authorizations and permits
- Dispute resolution
- Language
- Other conditions.

Arbitration it is a method of dispute resolution relating to international contracts of sale. A well-prepared clause on arbitration provides a basis to duly conduct arbitration in case of litigation.

The Vienna Convention on Contracts for the international Sales of goods regulates the formation of international contracts of sales. The Convention was signed in Austria on 11 April 1980. It has been adopted by forty countries, the majority of which are developed. The layout of a contract is left entirely up to companies, it can also be accepted in a verbal form; although there are countries signatories to the Vienna Convention who do not accept verbal agreements and only recognize a written form of a contract. For a contract to be considered accepted the consignee's consent must be obtained. Silence cannot be interpreted as consent.

The delivery of the products must be performed according to what has been stipulated in the contract of sale and the products must be of the agreed quality, quantity and type. The products must be inspected as soon as possible and, if the products are non-compliant, it must be communicated to the exporter within a reasonable period of time.

Vienna Convention

EENI Business School