CIP Incoterms: Benefits for International Trade

The Incoterm CIP, (Carriage and Insurance Paid to), is an international trade term that states that the seller is responsible for arranging and paying for the carriage and insurance of the goods to a specified destination. Although the seller is responsible for the organization and costs of transport and insurance, it is important to note […]

International Treaties As A Source Of International Commercial Law

In the increasingly interconnected global economy, international commercial law plays a crucial role in facilitating and regulating cross-border trade and business transactions. Among the various sources of this body of law, international treaties stand out as a fundamental pillar, providing a framework for harmonized rules and practices across different jurisdictions. International treaties, also known as […]

National Law As A Source Of International Commercial Law

National law’s influence on international commercial law stems from the fundamental principle of state sovereignty. Each country has the right to regulate commercial activities within its borders, and these regulations inevitably impact international transactions. This principle creates a challenging environment for businesses operating across national boundaries. One of the most significant ways national laws contribute […]

Hard Law And Soft Law: Know The Differences

Soft Law Soft law is all about those legal instruments that don’t carry the weight of enforcement like the traditional hard law. Unlike treaties, statutes, or conventions which have legal obligations attached to them, soft law instruments are more like suggestions or guidelines. They serve as a framework for behaviour and cooperation in areas where […]

The Importance Of Lex Mercatoria In International Trade

In the complex and ever-evolving landscape of international trade, the concept of Lex Mercatoria, or the “Law Merchant,” plays a crucial role in facilitating smooth transactions and resolving disputes across borders. What is Lex Mercatoria? Lex Mercatoria refers to a body of commercial law that has developed over centuries through customary practices, usage, and principles […]

International Custom As A Source Of International Commercial Law

International custom plays a crucial role as a source of international commercial law, shaping the rules and practices that govern international transactions. This unwritten body of law, derived from consistent state practice and a sense of legal obligation, complements written treaties and domestic laws in regulating global commerce. Custom in international commercial law emerges from […]

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