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Management and Organizational Studies 2276A/B Study Guide - United Nations Commission On International Trade Law, United Nations Convention On Contracts For The International Sale Of Goods, World Trade Organization

Management and Organizational Studies
Course Code
MOS 2276A/B
Frederick King

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International Law 2/27/2013 10:20:00 AM
US is Canada’s largest supplier of imports
Canada’s main export is raw materials
Must take other customs, laws, languages etc. into account when
doing business internationally
Custom brokers and freight forwarders help make sure goods are
traded successfully
GAT General Agreement on Trade
WTO created in 1995, succeeded GAT as an organization, but GAT
is still an agreement that the WTO enforces
Terms in International Contracts
Choice of law
Financing and methods of payment
o Language barriers
o Accepted conventions (standards) contractual provisions
with widely understood meanings
Vienna Convention CISG (convention on the
international sale of goods)
Contract of Sale
Payment, e.g.:
o Seller (China), buyer (Canada)
Buyer doesn’t want to pay until goods are shipped and
seller doesn’t want to ship until goods are paid for
Letters of credit Canadian buyer will go to their
bank and ask them to issue an irrevocable letter
of credit to be issued to the Chinese seller (says
once they are advised the goods have been
shipped, then the funds will be transferred)
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