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QLLM050 International Commercial Law

Module Description

Traders buying and/or selling goods or commodities in international markets are involved in complex transactions. The typical transaction involves numerous contracts over national boundaries with a high level of uncertainty and complexity. For example: the goods are sold under a contract of sale, transported under a contract of carriage, insured under a policy of insurance and frequently financed through a letter of credit- all done with parties in different countries. The objective of the module is to make participants familiar with the key contracts in international commerce. To achieve this aim, the module covers the fundamental characteristics of international contracts for the sale of goods and to a lesser extent the key ancillary contracts for the financing of trading activities, transportation of goods to their place of destination and insurance of the cargo. The module will have an emphasis on the practical problems which arise in the international commercial arena.

Module Topics

  • Introduction to the key contracts of international trade transactions
  • Sources of Law, Legal Instruments and the Harmonization Efforts
  • The Documents for International Sales and Ancillary Contracts
  • Private International Law (Conflict of Laws) Issues
  • Sales contracts under traditional common law
  • Use of standardized sales contracts
  • Common Law examination of CIF, FOB and the INCOTERMS
  • UN Sales Convention (CISG)
  • UNIDROIT Principles of International Commercial Contracts
  • Online Contracting
  • Financing of International Trade
  • UCP 600, Documentary Credits
  • Insurance Issues of International Trade

Prerequisites

None

Applicable Groupings

Method of Assessment

3 hour written examination paper

Credits

45 Credits

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