Study Guide

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?

Assessment criteria, satisfactory (1-2) (course unit)

The student can recognise, name and define basic concepts and terms in international trade and international contract law. The student can work in a group and take responsibility for his/her own work in individual and team assignments.

Assessment criteria, good (3-4) (course unit)

The student is able to explain, compare and apply the terms and concepts in international trade and international contract law. The student can solve problems in case studies and assignments and justify his/her choice. The student takes responsibility and commits to group activities in addition to his/her own work.

Assessment criteria, excellent (5) (course unit)

The student can apply the terms and concepts in international trade and international contract law extensively and is able to analyse and relate them to professional context. The student is able to assess diverse solution alternatives in case studies and assignments. The student can cooperate responsibly, flexibly and constructively and develop his/her own and the group’s interaction.

Assessment scale

0-5