Post on 02-Jun-2018
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I nternational Trade Law
Presenting By:Faisal Javed Virk MBA3Y02103152
Khalid Yousaf MBA3Y02103173
Asghar Ali MBA3Y02013098
Syed Ali Faizan Kazmi MBA3Y02103113
Sehrish Imtiaz MBA3Y02103123Shamsa Iqbal MBA3Y02013
Sobia Siddique MBA3Y02103141
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I nternational Trade Law
International Trade law isdealing with
International sale of goods,the exchange of goods and
services between countries.
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Key stagesin a typical transaction of theinternational sale of goods
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Negotiations between seller and buyer
Making the sales contract between parties
Shipment of the goods and carriage of the
goods
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Problemsassociated in the international trade
transaction
An international sale will usually involve a sea transit
Customs need to be cleared
Import and export licenses need to be obtained.
International sales raise conflict of laws problems
Financialproblems
Fluctuations in currency
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I NCOTERMS or international commerce terms
International Chamber of Commerce (ICC) has
introduced quite a number of special trade terms in usefor international trade.
These terms have simplified the sale of goods abroad.They are in universal use in trade transactions
Two extremely useful trade terms, namely:
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I nternational Trade Law
FOB CIF
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FOB ( free on board)
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In a FOB contract, the seller has to put the goods on
board a ship.
The price under an FOB contract includes the cost of the
goods and all expenses up to the board the ship.
Once The delivery is completed then the property and
the risk pass to the buyer.
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I nternational Trade LawFOB ( free on board)
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Dutiesof the F .O.B buyer
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Nomination of a ship
To secure shipping space
To obtain the necessary import license
Pay any cost incidental to the shipment
Pay the seller for the goods in accordance with the contract
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Dutiesof the FOB seller
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I nternational Trade Law
To ship the goods of contract description at the named port of
shipment
To ship goods on time
To obtain Export licenses
To deliver the necessary documents
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CIF contracts
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I nternational Trade Law
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CIF contracts
CIF stands for
The letter CIF represents the three contracts involved
The costthe sale contract
Insurance-the contract of insurance
Freight- the contract of carriage.
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I nternational Trade Law
cost, Insurance freight
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Dutiesof the sellerunder a CIF contract
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I nternational Trade Law
To ship the goods according to the contract description
To enter into a contract of carriage in order to deliver the goods.
To ensure that the goods are properly insured under a contract of
insurance
To procure and prepare proper shipment documents.
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Duties of the buyerin a CIF contract
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I nternational Trade Law
Payment against documents
The buyer must bear the loss according to
contract
Buyer must take delivery
Import licenses
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REMEDIES IN I NTERNATIONAL SALES
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I nternational Trade Law
Buyers remedies under CIF contract
Rejection of the goods on arrival if notaccording to contract.
Damages for non-delivery of the goods.
Damages could also be claimed for late
delivery.
the buyer can reject the documents if the
seller has not tendered the right documents
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REMEDIES IN INTERNATIONAL SALES
Sellers remedies under CIF contract
Action for the price
Damages for non-acceptance
Damages for breach of warranty
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I nternational Trade Law
in Pakistan
In Pakistan international trading is done under:
International trade law.
THE VIENNA CONVENTION ON THE
INTERNATIONAL SALE OF GOODS 1980.
Import Export control Act 1950 (LastUpdated : Apr 19, 1950)
Export control Act 2004 (Last Updated : Sep
27, 2004)
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Bodies implementing trade laws in Pakistan
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I nternational Trade Law
Export Promotion Bureau of Pakistan
TDAP (Trade development authority of Pakistan)
Local Courts.
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Thank you
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