International Trade and Contracts (5 cr)

Objectives (course unit)

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 (course unit)

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?

Exam schedules

PART A: Exam dates will be informed later
PART B. Exam dates will be informed later

Assessment methods and criteria

Grading scale 0 - 5. Total Grade: PART A. 50 % + PART B. 50 %

Assessment scale

0-5

Teaching methods

PART A / Tuomala: Contact teaching, exercises, assignments, exam
PART B / Koivuniemi: Introduction to PART B. week 15 or 16 (will be informed later) -> 100 % e-learning, assignments, exam

Learning materials

ICC Guide to Export / Import - Global Standards for International Trade by Guillermo C. Jimenez. ICC Publications 2012.Fourth Edition.

Student workload

5 ECTS = 130 hours student time usage
PART A: About 20 hours lectures + 30 hours studying the course literature and material + 15 hours making the L/C assignment and other assignments
PART B: e-learning -> assignments + EXAM

Content scheduling

Part A: Practices of International trade; weeks 12 - 16
Part B: International Law and Contracts; weeks 16 - 20
The detailed course plan will be introduced during the first class.

Completion alternatives

None

Practical training and working life cooperation

None

International connections

None

Further information

Further information:
Marita Tuomala
marita.tuomala@tamk.fi
tel. + 358 40 846 8057

Assessment criteria - fail (0) (Not in use, Look at the Assessment criteria above)

Fail in exam and / or case study in PART A and / or Fail in exam and / or assignments in PART B

Assessment criteria - satisfactory (1-2) (Not in use, Look at the Assessment criteria above)

Student has achieved the objectives of the course sufficiently. Student understands the principles of International Trade and Contracts. Student recognizes, is able to determine and use the concepts and models.

Assessment criteria - good (3-4) (Not in use, Look at the Assessment criteria above)

Student has achieved the objectives of the course well although the skills and competences are somewhat in need of further development. Student is able to determine and apply the concepts of the subject matter well and is able to apply them in simple tasks.

Assessment criteria - excellent (5) (Not in use, Look at the Assessment criteria above)

Student has achieved the objectives of the course excellently. The student masters the concepts of the subject matter in an excellent manner. Student is able to conduct fluent and reasoned analysis and has good capabilities to apply the learning.