International Trade and Contracts (3cr)

Objectives (course unit)

This course is an introduction to practices of international trade and to 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 and 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 agreements.
• Identify situations where CISG applies 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.
• Know 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 and key documents in foreign trade?
• 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 can contractual disputes be resolved and what are the sanctions for breach of contract?

Location and time

The course will start week 2.

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. 70 % + PART B. 30 %

Assessment scale

0-5

Teaching methods

PART A / Tuomala: International Trade; Contact teaching, exercises, assignments, exam
PART B / Koivuniemi: Contracts; Introduction to PART B. week 6; 100 % e-learning, assignments, online exam

Learning materials

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

Student workload

3 ECTS = 80 hours student time usage
PART A: 2 ECTS: About 20 hours lectures + 20 hours studying the course literature and material + 10 hours making the L/C assignment and other assignments
PART B: 1 ECTS: About 30 hours e-learning + assignments + EXAM

Content scheduling

Part A: Practices of International trade; weeks 2 - 8
Part B: International Law and Contracts; weeks 6 - 10
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)

Student is not able to name or define the basic concepts and terms in International Trade and International Contract Law. The student has failed in exam / exams and / or mandatory assignments.

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

Student has limited knowledge of the basic concepts and terms in International Trade and International Contract Law, resulting in exam grades 1 - 2. The student is able to list, define and explain the basic concepts and terms in mandatory assignments.

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

Student has good knowledge of the concepts and terms in International Trade and International Contract Law, resulting in exam grades 3 - 4. The student is able to use and apply the terms and concepts well in simple tasks and mandatory assignments.

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

Student has excellent knowledge of the concepts and terms in International Trade and International Contract Law, resulting in an exam grade 5. The student masters the terms and concepts of the subject matter in an excellent manner and is able to apply and analyse the terms and concepts extensively in mandatory assignments and challenging case studies.

Assessment criteria - pass/fail (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