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The International Commercial Exchange

In: Introduction to International Business Transactions

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Abstract

Chapter 4 introduces the forms of international commercial exchange: commercial sale and purchase agreements, commercial leases, buy-sell distribution arrangements, and commission agents. It then discusses efforts at global harmonization of commercial law, focusing on the UN Convention on Contracts for the International Sale of Goods (CISG). It explains the rules governing the CISG's application and exclusion and gives an overview of its substantive rules. It describes some of the challenges of international sales of services agreements. It then introduces the concept of shipping and delivery terms, with special attention to the International Chamber of Commerce's Incoterms. It describes the rules for freight by ocean, air, and land and the role of the bill of lading. It identifies the options for international payments and explains the concept of a commercial letter of credit. Finally, it discusses the problem of foreign exchange risk and the options for minimizing risk.

Suggested Citation

  • ., 2024. "The International Commercial Exchange," Chapters, in: Introduction to International Business Transactions, chapter 4, pages 189-300, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:22630_4
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    File URL: https://www.elgaronline.com/doi/10.4337/9781035318162.00010
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