Name:Mehmet Yiğitalp Kargı

Number: 2018434038

IBS 3017 International Trade Law

Final-01 February 2021

1. Why would you make a reference to ICC INCOTERMS in your international

contract? Explain. In your answer also mention the scope of topics that the
INCOTERMS cover. (30 points)

A party to trade would make a reference to ICC INCOTERMS in the International

Agreement because if this mentioning is not done in the agreement then legal effect of
commercial trade rules can't be initiated in case of any disruption in the process of
fulfillment of deal.
ICC INCOTERMS are following: Ex Works, Free Carrier, Free On Board, Free
Alongside Ship, Cost and Freight, Cost, Insurance and Freight, Carriage Paid
To,Carriage, Insurance Paid to, Delivered At Place, Delivered At Terminal, Delivered
Duty Paid.

2. Explain one importance & contribution of “Convention on Contracts for

International Sale of Goods” (CISG) for international trade law? (30 points)

The CISG hopes to liberally diminish limits to overall arrangements by making

present-day, significant norms to manage the individual rights and responsibilities of
social occasions to a worldwide arrangement. . It has been gotten by various countries
wherever on the globe. As of date, in excess of 90 countries have affirmed, supported,
assented to, or winning to the CISG. The CISG is the "natural product" of various
undertakings to mix overall trade laws and execute cross-line esteem based
inconveniences. The CISG brings a "regular course of action" to the trade table and it
is an association of the legitimate thoughts of standard law and customary law. Some
semi product or classes of items have in like manner been denied from the subject of
the CISG. Similarly, under article 3(1), if the get-together mentioning the product
embraces to supply a huge piece of the amassing material essential to convey such
items, these arrangements fall outside the degree of utilization of the courses of action
of the CISG. In any case, some other understanding for the stock of product which are
yet to be created is covered by the plans of the CISG. Moreover, it should in like
manner be seen that the CISG doesn't have any critical bearing to individual and
nuclear family stock, hypothetical property, for instance, stocks and disputable
instruments and vessels, for instance, boats and airplane.

3. Is dispute resolution a concern/problem in international trade law? Why? Give one

solution from the Institutions we covered in class and a method they use for
harmonization in this area. (30 points)
In Multilateral trading system , Dispute settlement is the central pillar. The rule-based
system would be far less effective. International arbirtation is sometimes called a
hybrid form of international dispute resolution.

Steps firms can take before entering into formal dispute resolution process-

1-If you can work together with the counterparty trader to negotiate a mutually
agreeable solution , contact the buyer to clearify the misunderstanding.

2-Make sure that you and your counterparty has a copy of the specific contract , or
letter of credict, invoice.

3-Make sure that all firm’s customs documents are in proper order.

4-Try out delayed payment plan with buyer if the counterparty agrees.

5-Take consult and discuss the issue with firm’s international banker and lawyer.

6-Keep detailed records of all the trade documents and records related to the disputes.

If firms still can't resolve the dispute, there are many institutions and organizations
that can help arbitrate and meditate the issue.

For Example ,International Chamber of Commerce offers variety of arbitration

services.

4-Explain why World Trade Organization (WTO) is important for international trade
law? (10 points)
The World Trade Organization (WTO) is the solitary global association liable for
world exchange rules. Its principle work is to guarantee that exchange streams as
easily, productively and as uninhibitedly as could be expected.

1. The WTO encourages the powerful execution, the board and activity of global
economic alliance.

2. It gives a discussion to exchange arrangements between its part states.

3. Goal of questions between part states by set up laws and guidelines.

It is working with the IMF and the World Bank to cooperate to detail worldwide
financial approaches.
The WTO is a gathering where administrations of different part states arrange
economic alliance and manage global exchange controls. In this way, it gives a
structure to part states to arrange. ... In this way, the principle capacity of the WTO is
to execute a framework wherein exchange rules are set.

The WTO helps worldwide exchange stream easily through its exchanging
arrangements. WTO individuals understand what the standards are, and they
comprehend the punishments for disrupting the guidelines - which makes a protected
exchanging stage for everybody.