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Summary Law II: International Commercial Law: summaries book

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European Law (2000TCL_22)

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Hogeschool Van Amsterdam (HvA)

This summaries contains chapter of the studybook International and European Law, for the module Law II during the 2nd year of International Business at the Hogeschool van Amsterdam.

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Geupload op 31 juli 2023
Bestand laatst geupdate op 31 juli 2023
Aantal pagina's 33
Geschreven in 2018/2019
Type Samenvatting

international business
international commercial law
international school of business

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Summary Commercial Law
International Business

YEAR 2

, TABLE OF CONTENTS
TABLE OF CONTENTS...................................................................................................................................... 1

CHAPTER 1 INTRODUCTION........................................................................................................2

CHAPTER 6 GENERAL CONDITIONS OF SALE.............................................................................8

Chapter 8 The international sale of goods...............................................................................9

Chapter 10 Incoterms................................................................................................................................................12
Chapter 11 Contract of carriage...........................................................................................................................14
Chapter 12 Jurisdiction and Arbitration...........................................................................................................18
Chapter 13 Applicable Law..........................................................................................................................23
Chapter 15 Payment Conditions.............................................................................................................30

1

, Chapter 1 Introduction

Individual / international contract agreements:
The success or failure of an individual contract is determined by:
 The terms of the agreement
 Economic changes
 Geopolitical changes
 Environmental changes
 Societal changes
 Technological changes

European law:
The main goal of the European law is to ensure fair competition between companies on the
European market and prevent abuse of a dominant market position.
Aswell as price – fixing agreements between companies. The European law also has an
impact on how companies in Europe operate the free movement of goods, persons, services,
and capital.

Global risks are:
 Economic risks; income disparity, chronic fiscal imbalance, major systematic financial
failure
 Geopolitical risks
 Environmental risks; Climate change, raising greenhouse gas emissions and extreme
weather events.
 Societal risks
 Technological risks.

Risks in international trade:
 Political risks
 Foreign policy risks
 Domestic policy risks.

Political risks:
 Foreign policy: war, embargo, restrictions in trade.
 Domestic policy: revolt, civil war, piracy, terrorism.
 Economic policy: introduction capital controls, nationalization.

*See table 1.3 on page 9 textbook*

Border measures are import measures such as:
 Specific duty increases
 Reference import values
 Minimum import price setting
 Burdensome licensing
 Special border fees
 Tariff quotas
 Import and export bans.

2

, Behind the border measures are part of long – term policies aiming at boosting domestic
industries, which is done by giving:
 State aid
 Tax advantages
 Local content rules
 Governmental preference to national companies.

State aid:
State aid to individual companies or sectors in the economy makes it difficult for foreign
competitors to compete with their products.

Competitive devaluation:
When a country decides to print more money, but more money devaluates the currency
compared to other currencies. This makes it cheaper for foreigners to buy products that are
from the devaluating country. Competitive devaluation can cause:
 A currency war
 High inflation in the country printing money.

Consumption subsidy:
When non – subsidized products become more expensive relative to the subsidized product.

Export subsidy:
When a country subsidizes a product that is being exported, competitors in the importing
country will experience a disadvantage: Their prices will be higher.

Export taxes or restriction:
Reasons why governments aim to control the export of goods:
 Restrictions on the sale of technology or weapons to other countries to protect national
security.
 Preservation of natural resources.
 To encourage the supply of raw to local industries.

Import ban:
Import bans are used by governments seeking to protect existing domestic industries and
reduce the country’s dependence on imports. An import ban is an advantage for domestic
producers as they can sell their products more easily and against higher prices.
However, an import ban can also be used for the protection of the health of the population and
the environment.

Investment measures:
Investment measures prohibit foreigners from investing in certain industries or owning certain
industries. Also, there are countries that nationalize companies – this mostly happens if a
company has some great losses – and this is meant to protect domestic industries.
However, nationalization is not very appealing for foreign investors because they might lose
their money when a domestic company is or will be nationalized.

Local content requirement:
A measure that constrains foreign companies in local content requirements.
For example when a country demands by law that companies only use (for a certain
percentage of the time) the native language in advertisements, instead of a foreign language

3

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