trade lawa

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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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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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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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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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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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cost, Insurance freight


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Dutiesof the sellerunder a CIF contract

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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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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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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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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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Export Promotion Bureau of Pakistan

TDAP (Trade development authority of Pakistan)

Local Courts.


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Thank you

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