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Summary International Trade and Transactions Exam Bundle - High Distinction

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International Trade And Transactions (ITT)

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BPP University College Of Professional Studies Limited (BPP)

ITT Exam Bundle (Revision Notes). High distinction achieved in ITT and in LPC course overall. Useful for open note exams to quickly consult topic area as well as to memorise for closed note. Exam Structures usefully highlighted.

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Type Samenvatting

itt
international trade
arbitration
energy
aviation
shipping
commercial contracts
international trade and transactions

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BPP University College Of Professional Studies Limited (BPP)
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International Trade And Transactions (ITT)

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ITT EXAM BUNDLE
Table of Contents
SGS 1 – Conflict of Laws (Contract) 3
Exam Structure Rome I (long form) 3
BPP Flowchart 12
Solutions Full Examples Rome I……………………………………………………………………………………………………………..13

Commercial + Legal Issues re Choice of Law Clauses (Client Advice Emails)………………………………….…..23

Drafting a Governing Law + Jurisdiction Clause……………………………………………………………….………….26

PCR Issues Surrounding Governing Law Clauses…………………………………………………………..…………..27

SGS 2 – Commercial Contracts 1 28
Exam Structure Longform – SGA/UCTA/Exclusion/Limitation Liability 29
BPP Flowchart 38
Standard T & Cs – SGA Fall Back Provisions…………………………………………………………………………………..……46

Retention of Title/ROMALPA…………………………………………………………………………………………………………..49

Advise Client on Key Provisions within Standard T & Cs…………………………………………………………….52

SGS 3 – Commercial Contracts 2 – E-Commerce…………………………………………………………………………………………….53

Info Trader Must Provide on Website + Key Steps for Online Contract Conclusion……………………………..……….57

Law which will apply to a Contract Formed Online……………………………………………………………………………..…..61

Scope + Application of Rome II Reg……………………………………………………………………………………………………..65

BPP Rome II Flowchart……………………………………………………………………………………………………………….……67

E-Comm Regs 2002 – liability for content created by others……………………………………………….………..68

SGS 4 – Aviation 1 (Aviation Finance) ……………………………………………………………………………………………….…………..71

Principal means of Aircraft Finance………………………………………………………………………………………………….…………..72

Different types of Aircraft Lease………………………………………………………………………………………………….…………….74

SRA Principles when drafting clauses in other jursidictions………………………………………………..…………83

Draft Lease Agreement………………………………………………………………………………………………………..……84

Status + Effect of Cape Town Convention……………………………………………………………………..……….92

SGS 5 – Aviation 2 (Carriage of Goods by Air)…………………………………………………………………………………………………94

Nature and Scope of Montreal Convention……………………………………………………………………………………………………..94

Limiting Liability under Montreal Convention………………………………………………………………………………………………..96

Article 18: Damage to Cargo……………………………………………………………………………………………………………………101

Ways Consignor + Carrier Can Protect Position under Montreal Convention………………………………………..102

Timing for Bringing Claim: Notification and Limitation Periods…………………………………………………………..104

Advantages + Disadvantages: Arbitration vs Litigation…………………………………………………………………….106

1

,SGS 6 – International Sale of Goods………………………………………………………………………………………………………….109

Customary Trade Terms……………………………………………………………………………………………………………………………….111

CIF Incoterms…………………………………………………………………………………………………………………………………………….114

FOB Incoterms…………………………………………………………………………………………………………………………………122

EXW + DDP Incoterms………………………………………………………………………………………………………………….126

Bills of Lading………………………………………………………………………………………………………………………….127

HVR………………………………………………………………………………………………………………………………130

HVR limiting liability……………………………………………………………………………………………………..138

SGS 7 – Shipping 1…………………………………………………………………………………………………………………………………….152

Nature of Ship’s Flag + Benefit of UK Ship Registration………………………………………………………………………………..152

Flag State Control vs Port State Control…………………………………………………………………………………………………….154

Facilitation Payments – Bribery Act…………………………………………………………………………………………………….157

How might company deal with facilitation payments?...........................................................................160

Types of Charter (table)……………………………………………………………………………………………………………………162

Voyage Charter vs Time Charter……………………………………………………………………………………………………165

Key terms included in Voyage Charter………………………………..……………………………………………………167

Freight, Laytime, Demurrage, Despatch………………………………………………………………………………171

SGS 8 – Shipping 2 ………………………………………………………………………………………………………………………………….

Freight – entitlement/consequences of not paying…………………………………………………………………………………….

Maritime Insurance (Types of Claims + Exam Structure) ………………………………………………………………………….

Commercial, Legal and Practical Issues which might arise from an accident of vessel carrying cargo…….

LLMC…………………………………………………………………………………………………………………………………………………………….

Legal response to maritime environmental disasters (oil spills) Rome II…………………………………………………..

SGS 9 – Energy Law……………………………………………………………………………………………………………………………………174

Legal + Regulatory Issues which Impact on Ability to Drill for Gas/Oil……………………………………………………177

Competition Law……………………………………………………………………………………………………………………………184

Judicial Review…………………………………………………………………………………………………………………………..186

International Environmental Claim (Rome II)………………………………………………………………………….188

SGS 10 – International Arbitration ……………………………………………………………………………………………………………….191

Pros + Cons Institutional Arb vs Ad Hoc Arb………………………………………………………………………………………………195

Arbitral Regime under Arbitration Act…………………………………………………………………………………………………..198

Arbitration Act – Mandatory Articles vs Institutions…………………………………………………………………………...200

LCIA…………………………………………………………………………………………………………………………………………………202

Challenges + Appeals (AA)……………………………………………………………………………………………………………204

SGS 1 – CONFLICT OF LAWS I (CONTRACT)
2

, 1. Understand the circumstances in which choice of law is an issue;
2. Understand the rules that will be applied by an English court when deciding which
country’s laws it will apply to a contractual dispute with an international dimension;
3. Apply the key rules and concepts contained within the Rome I Regulation; and
4. Draft a simple choice of law and jurisdiction clause.

STEP 1 – DOES THE ROME I REGULATION APPLY?
It must be YES to the following:

1. Does the matter fall within the MATERIAL SCOPE of the Rome I Regulation?
2. Does the matter fall within the TEMPORAL SCOPE of the Rome I Regulation (was the
contract entered into after the Rome I Regulation came into force)

STEP 1(A) - MATERIAL SCOPE (ARTICLE 1) (recitals 7-10)
3 separate parts:

1. IS THE RELEVANT COURT OF TRIBUNAL SEISED OF THE DISPUTE FACED WITH A CONFLICT OF
LAWS?

Does the court or tribunal hearing the dispute have the choice between applying the laws of one
country and/or another?

2. IF SO, DOES THE CASE RELATE TO A CONTRACTUAL OBLIGATION?

Not expressly defined – but any exclusions to this are below

- EXCLUSIONS

Articles 1(1) and 1(2) – Regulation does NOT APPLY in cases relating to contractual
obligations arising out of:

- Revenue matters
- Customs matters
- Administrative matters
- Questions involving the status or legal capacity of natural persons
- Obligations arising out of family relationships, including maintenance obligations
and matrimonial property regimes
- Wills and succession
- Bills of exchange, cheques, promissory notes and other negotiable instruments
- Arbitration agreements and agreements on the choice of court
- Law of companies/corporated or unincorporated bodies relating to the creation,
registration, legal capacity, internal organisation or winding up of such bodies, the
personal liability of their officers and members for the obligations of the body
- Question whether an agent is able to bind a principal in relation to a third party
- Constitution of trusts and the relationship between settlors, trustees and
beneficiaries
- Obligations arising out of dealings prior to the conclusion of a contract
- Certain insurance contracts

3

, Article 1(3) – confirms Rome I Regulation will not determine the applicable rules on
evidence or procedure – such matters will fall to be decided in accordance with the domestic
rules of the courts hearing the dispute.

3. IF SO, IS IT A CIVIL AND COMMERCIAL MATTER?

IF YES TO THESE QUESTIONS (AND NO EXCLUSIONS APPLY THEN MOVE ONTO STEP 1(B) –
IF THE ANSWER IS NO TO ANY OF THE QUS, ROME I DOES NOT APPLY

STEP 1(B) – TEMPORAL SCOPE (ARTICLE 28 + CORRIGENDUM)
Article 28 + Corrigendum amended to:

‘This Regulation shall apply to contracts concluded as from 17 December 2009’ (aka on or
after)

ONCE YOU DECIDE THAT THE ROME I REGULATION APPLIES, YOU
MUST THEN CONSIDER ITS RULES IN ORDER TO DECIDE WHICH
COUNTRY’S/COUNTRIES LAWS APPLY TO THE PARTIES’ CONTRACT.

STEP 2 – CHOICE OF LAW (WHICH LAW APPLIES)
STEP 2(A) – THERE IS A CHOICE OF LAW (ARTICLE 3) –
(IF NOT MOVE TO STEP 3)
ARTICLE 3(1) – A contract shall be governed by the law chosen by the parties. The choice shall be
made expressly or clearly demonstrated by the terms of the contract or the circumstances of the
case. By their choice the parties can select the law applicable to the whole or to part only of the
contract.

3 separate parts:

1. A CONTRACT SHALL BE GOVERNED BY THE LAW CHOSEN BY THE PARTIES

Parties to the contract can choose the law applicable to the whole or part of their contract.

- Recital 13 – Regulation does not preclude parties from incorporating the laws of non-EU
member states into their contract.

4

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