Introduction

Part 3 deals with the issues relating to international trade and sales. Every day, many business people rely on the certainty of the laws and rules relating to international trade to govern their obligations, provide remedies and resolve disputes.

Chapter 1 deals with the relevance of standard trade terms in international contracts. Trade terms such as CIF and FOB will be examined along with the relevance of INCOTERMS. These terms, which have developed through practice and customs have been recognised and given legal effect by the English courts. They have served a useful purpose over the years as they reflect the intent of the parties and help to determine the rights and obligations of the buyer and seller, as well as rules relating to the passing of property and risk.

Chapter 2 examines the role of the UN Convention on Contracts for the International Sale of Goods 1980 (CISG). This Convention has been widely used and recognised by many countries, including important trading nations such as the United States, China and most of the European Union. The CISG has been hailed as a success in that it strives to achieve a balance between the interests of the buyer and seller in sale of goods transactions. This chapter will examine the scope of the Convention, the obligations of the parties as well as the available remedies.