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Summary International Business Law
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International Business Law1. Introduction
What is IBL?
- Rules and norms that regulate business activities outside the legal boundaries of
states
- Important contract for international trade, such as international sales, international
contracts in general, agency and distribution contracts and licensing agreements,
transfer of technology, international financing and international payments
Treaties
are a very important source of IBL
Some important types:
- FNC (= Friendship navigation commerce), Free trade Zone, GATT, customs
- Founding international organisations
- Investment treaties, state loans
- Judicial cooperation
- unification of law; minimum standards
Effects in the international legal order:
- international liability of states
- international jurisdiction
e.g.: international Court of justice & Permanent Court of Arbitration
Possible sanctions:
- determined by treaty provisions
- customary law: prohibition of boycott
- binding dispute settlement (e.g.: DSU in WTO)
international organisations
universal organisations:
- GATT, now WTO with a General Council and separate Councils
- UNO General Assembly, Security council, EcoSoc
- Uncitral (International trade law) treaties and model laws
- Unctad (trade & dev.) granting developing countries access to world economy
- ILO labour standards
- Unidroit create unfirm law
- Hague conference Unification of IPL
International organisations:
- Free trade organisations
- Types: free trade zone, custom union, common market, monetary union
- Examples: EU, EFTA, EEA, NAFTA, ASEAN, CETA, COMESA, SAARC
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,Actors in IBL
non-governmental organisations
• Private organisations
not subjects of international public law, but governed by national law
• Some influential NGOs’ relevant for IBL:
- ICC for standard contracts and uniform rules, Court of arbitration
- International Accounting Standards Board (IASB), setting the IFRS
- World economic forum Davos
Business:
• Legal forms: depends on national law
natural persons, different forms of legal personality, unincorporated organisations
• Right and obligations of business
- Will mostly be determined by the applicable national law
- Sometimes directly protected by international law, Investment protection
- Sometimes able to create their own rules and make them nearly self-executing
• Subject to insolvency proceedings
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,2. The EU and European Market Law
The treaties
1952 The European Coal and Steel Community
1958 The treaties of Rome
1987 The European Single Act: The Single Market
1993 Treaty on European Union (Maastricht)
1999 Treaty of Amsterdam
2003 Treaty of Nice
2009 Treaty of Lisbon
Schengen
• No police or customs checks at borders, between most EU countries + Norway,
Lichtenstein, Switzerland and Iceland
• Controls strengthened at the EU’s external borders
• More cooperation between police and immigration authorities from different EU
countries
• Buy and bring back any goods for personal use when you travel between EU Countries
Common foreign and security policy
= the EU pursues and ambitious trade negotiation agenda and a balanced and progressive
trade policy to harness globalisation
Recent trade agreements with:
- Canada (2017)
- Japan (2018)
- …
The European Institutions
The European Parliament
Voice of the people
- President = David Sassoli
The European Council
voice of the members
- President = Charles Michel
- Meeting place of heads of government and foreign ministers
- Also attended by the president of the EC
- Lisbon treaty created permanent post of president of the European Council selected
by the council for a renewable 2,5-year term
- Political body – not legislative
- The EU’s key strategic body: it gives member states influence over the EU
- Sets the agenda and direction of EU
- Discuss major issues in the EU and in international affairs
- Make key decisions of foreign and economic policy
- Launch new policy initiatives and agree treaty changes
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, The European Commission
promoting the common interest
- President = Ursula von der Leyen
- 27 commissioners, 1 from every EU country
- Proposes new legislations
- Executive organ
- Guardian of the treaties
- Represents the EU on the international stage
The Court of Justice
- 27 independent judges, 1 from each EU country
- Rules on how to interpret EU law
- Ensures EU countries apply EU laws in the same way
The European Central Bank
- Ensures price stability
- Control’s money supply and decides interest rates
- Supervises that banks are safe
- Works independently from governments
The European Parliament
= the legislative branch of the European Union
- Directly elected and made up of 705 members representing all EU countries
- Decides upon EU legislation, including the multiannual budget, together with the
Council of the EU
- Holds other EU institutions, like the European Commission, to account
- It elects the president of the European Commission and plays a key role in vetting
commissioner-designates through individual hearings
- The 27 Commissioners must then be approved through a consent vote by the EP
- Members of the EP are elected in EU member states every 5 years
Procedures
Legislative (ordinary) procedure
the standard decision-making procedure used in the EU
- Unless the treaties specifically state one of the special legislative procedures
- Essential characteristic in this procedure = both council of Ministers as well as EP
have a deciding vote in the legislative process, and both may amend a proposal
Other procedures
• Consultation procedure used for legislation concerning internal
market exemptions and competition law
• Assent procedure admission of members
• Agreement procedure
• Discharge procedure
• Open method of coordination
• Procedure for amendment of the Treaties
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