For many years, there have been several attempts in the harmonisation of international trade. Unfortunately, sales of international goods are very complex and this leads to great difficult in unifying trade law. People have tried to create universal laws to mend shipping issues, seller to buyer relationships and fraud, however, there is still no global international trade law. So far, with every attempt, it becomes clearer that nations have conflicting ideologies or viewpoints and hinders the progression of global harmonisation of international trade. The idea of perfectly harmonising international trade is not possible because countries act to benefit their self-interests and have varying interpretations of law.
The Hague-Visby Rules, Hamburg Rules and Rotterdam Rules are all international trade laws which attempted to harmonise trade law regarding carriers. However, not all countries have parted from their laws and adopt the Rotterdam Rules, the most modern of the three provisions. The Hague-Visby Rules are heavily criticised because of the laws included seem to heavily favour cargo owners and the Hamburg rules were introduced to replace the 1924 Hague Rules and the 1968 Hague-Visby Rules (Wanigasekera and Creasy, n.d., p. 2, 4). The Hamburg Rules and the Hague-Visby Rules are very different from each other in regards of what goods are covered and time length to bring a claim. According to Hague-Visby Rule article 1(c), “'Goods' includes goods, wares, merchandise, and articles of every kind whatsoever except live animals” and deck cargo (Jus.uio.no, 2014). The Hamburg Rules accepts live animals and deck cargo within their provisions as goods covered under Article 1(5) and Article 9 (United Nations Convention on the Car...
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United Nations Convention on Contracts for the International Sale of Goods. 2010. [e-book] New York: United Nations. Available through: Uncitral.org http:// www.uncitral.org/pdf/english/texts/sales/cisg/V1056997-CISG-e-book.pdf [Accessed: 25 Mar 2014].
United Nations Convention on the Carriage Of Goods By Sea, 1978 (Hamburg Rules). 1994. UNCITRAL, www.unicitral.org.
Wanigasekera, A. and Creasy, J. L. n.d. Comparison of Hague-Visby and Hamburg Rules.
Zerman, P. 2011. Deviation : Justified or allowed and implications for the P&I cover. [online] Available at: https://extranet.skuld.com/News/Legal-News/ Deviation--Justified-or-allowed-and-implications-for-the-PI-cover--Slow- steaming/ [Accessed: 2 Apr 2014].
Trade is the most common form of transferring ownership of a product. The concepts are very simple, I give you something (a good or service) and you give me something (a good or service) in return, everyone is happy. However, trade is not limited to two individuals. There are trades that happen outside national borders and we refer to that as international trading. Before a country does international trading, they do research to understand the opportunity costs and marginal costs of their production versus another countries production. Doing this we can increase profit, decrease costs and improve overall trade efficiency. Currently, there are negotiations going on between 11 countries about making a trade agreement called the Trans-Pacific
Office of Industries, U.S. International Trade Commission.(2009).Export controls: an overview of their use, economic effects, and treatment in the global trading system. Retrieved from United States International Trade Commission http://www.usitc.gov/publications/332/working_papers/ID-23.pdf
The open markets are filled with competitors trying to trade and sell their goods and services.
This legislation covers the transport of all live vertebrate animals within the EU that takes place for an economic activity (money) and applies to the whole vertebrate family; mammals, birds, reptiles, amphibians and fish. Transporter authorisation is needed if journeys are over 65km (40 miles), an Animal Transport Certificate is needed for all journeys made.
To achieve perfect globalization it will be of great importance to eliminate the barriers between the countries. This can be attained by eliminating the differences in tariffs which will benefit the businesses of all the countries of the world. Tariffs don’t bring any benefits to the countries that they impose them, and for this reason they won’t help in realization of globalization. With tariffs reduction and the enhancement of globalization the consumers will have more choice on products and wider price range for the products. This is because reduction in tariffs results in reduction in trade barriers which is expected to expand the global economy. The elimination of tariffs will make the businesses to export freely and import freely, there will be an increase in the quality of goods and services that are produced in...
Container shipping industry is kind of international trade and destined restricted by los of regulation, such as ocean environment law, nation’s imports & exports law.
International Trade Law Case Study Introduction International trade transaction is essential for the sale of goods with the addition of an international element. In practice, the seller and buyer are in different countries where the goods must travel from the seller’s country to the buyer’s country by various means of transports. In international sale of goods, they usually transit the goods by sea because of the international transactions. Therefore, contracts for the carriage of those goods must be procured between the seller or buyer and common carrier depending on different types of sale of contracts. Moreover, in most of incidences, the agreed goods are usually insured at a reasonable amount in case of being loss or damaged during the transit.
The European Court of Justice held that Van Gend en Loos could recover the money it paid under the tariff. Article 12 was capable of creating personal rights for Van Gend en Loos, even though this was not expressly stated. The Netherlands could not impose a higher tariff than that in force on 1 January 1958 (when the Treaty came into force). An increase in the tariff could arise either through an increase in the rate or through the reclassification of a product into a higher-rated category, and that both were illegal under Article 12. The question of the proper tariff for urea-formaldehyde was remitted to the national
The scope of this paper is to illustrate the ways in which salvage and towage are different. The work of law experts was studied as well as a number of law cases, which assist in drawing useful conclusions.
In order for international trade to work well, governments must allow the world market to determine how goods are sold, manufactured and traded for all to economically prosper. While all nations may have the capability to produce any goods or services needed by their population, it is not possible for all nations to have a comparative advantage for producing a good due to natural resources of the country or other available resources needed to produce a good or service. The example of trading among states comprising the United States is an example of how free trade works best without the interve...
People all over the world have different needs and successful international trade should be based on thi...
Krugman, P.R. (1987) Is free trade passé? The Journal of Economic Perspectives, 1(2), 131-144. Retrieved from http://dipeco.economia.unimib.it/Persone/Gilli/food%20for%20thinking/simple%20general%20readings%20on%20economics/Is%20Free%20Trade%20Passe.pdf
One limitation of International Trade is "dumping." The Investopedia states that, "dumping in international trade occurs when one country exports a significant number of goods to another country at prices lower than in the domestic market (Investopedia. 2010)". For example, if a country decides to sell exported products cheaper than it does to its residents, the process is known as dumping. Romadia has to decide whether to impose tariffs, or set a quota on its import products. Dumping has created a probability that an adverse effect can happen because the result of the adverse effect is a shortage and increases in the prices of the products. Price increases lower the demand for the products. The country’s growth progress hindered because dumping is hurting those countries competing.
International trading has had its delays and road blocks, which has created a number of problems for countries around the world. Countries, fighting with one another to get the better deal, create tariffs and taxes to maximize their profit. This fighting leads to bad relationships with competing countries, and the little producing countries get the short end of this stick. Regulations and organizations have been established to help everyone get the best deal, such as the World Trade Organization (WTO), but not everyone wants help, especially from an organization that seems to help only the big countries and those they want to trade with. This paper will be discussing international trading with emphasis on national sovereignty, the World Trade Organization, and how the WTO impacts trading countries.
Free trade is a policy that relies on the concept of comparative advantage that when comparing two countries one of those countries will have the capability to make a product that is better than the other country. So it is best if each country focuses its efforts and resources into one product to increase the economic activity for both countries. The determination of who produces a product better is based on the open market without intervention from a government who may try to control a trade by imposing government protective measures such as tariffs. The World Trade Organization has been tasked with monitoring free trade, but it has been noted that their policing has not been effective to stop such interventions. Free trade not only relies on a laissez-faire approach but also on assumptions of conditions. The assumptions used by many for economic theories are not always accurate but rather the justification for using the assumptions is so that economic theories can be applied for the greater good of an economy.