International Law Case Study

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Introduction The sale of goods is an important transaction in business. In international trade, the contract of sale is the backbone in doing business. Countries have put in place national legislation that regulates the sale of goods and have created free trade zones. These legislations should be able to provide a balance between the interest of both buyer and seller and respective remedies. These legislations vary from one country to another and therefore an attempt to harmonise them will pose a challenge. United Nations commission on international trade law (UNCITRAL) is the core body of United Nations with the purpose of reducing obstacles in exchange of goods, services and capital to favour international investment. They intend to create a uniform law in contracts for international sale of goods and to create more secure legal environment to act as the basis for countries to use in developing their national laws to be consistent with global economy. Even though textual uniformity is necessary there is no sufficient step towards achieving substantive legal uniformity. This is because there is no guarantee in uniform application and practice in a formulated and enacted uniform legal text. Countries observe an act of good faith in doing business. The body that govern international sale transactions is international commercial law and a transaction qualifies to be international when more than one country is involved. International laws have grown extensively over the years therefore the importance of international commercial law has increased because it plays an important role in world development through the integration of world markets. Entering international market The modes of entering into international market include expor... ... middle of paper ... ...ates. International trade fraud International trade fraud is an incident of international commercial transactions. It affects traders through loss of cargo, increased insurance premiums and shipping expenses, as well as the cost to final consumers. The types of fraud vary from documentary fraud; charter-party fraud; fraudulent insurance claims; scuttling; diversion of cargo; counterfeiting, and money laundering. Conclusion Even though UNCITRAL purpose is to form a basis for a uniform, predictable and transparent system of law to encourage actual international trade and foreign investment, a universal law applicable in every single country could never exist. The process of having harmonised and uniform international trade laws is a worthwhile experience which requires continuous efforts to remain responsive to changing needs and circumstances in the globalized world
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