International Trade and ContractsLaajuus (5 cr)

Objectives

This course is an introduction to practices of international trade and legal framework in international trade transactions. This course consists of two parts: A. Practices of International Trade and B. Introduction to International Law and Contracts.

After completing the course, the students will be able to:

Describe the contents and requirements of international offers and invoices.
Define the terms of delivery (Incoterms) and know how to use them.
Explain and describe the main international payment methods.
List and describe the key documents in export process.
Explain how to use INTRASTAT-statistics and customs clearance in foreign trade.
Know the basic concepts of contract law and contract terms commonly used in international sales and supply agreements.
Identify situations where CISG applies, understanding how contracts are formed under CISG and what the basic obligations of a seller and a buyer are under CISG.
Know what a breach of contract means and the possible remedies for a breach of contract.
Appreciate the differences between main legal systems, the sources of law, understanding the differences between common dispute resolution mechanisms.

Content

What are the contents and requirements of international offers and invoices?
How does one use international delivery terms - Incoterms in offers and contracts?
What are the main international payment methods?
What documents are required in EU-trade and in trade outside EU?
What are INTRASTAT-statistics and customs clearance and when are they needed?
What are the main principles of contract law in international trade?
What is the scope of application of the CISG and what are the basic obligations of parties?
How do the world´s main legal systems differ from each other?
How can contractual disputes be resolved and what are the sanctions for breach of contract?