- Internalonal trade involves the buying and selling of goods and services between different countries.
- Interna7onal trading is governed by contracts which establish the terms and condi7ons of the agreement between the buyer and the seller.
- The internalonal sales contract can be formed in various ways, such as through wriAen agreements, communica7ons and conclusive behaviors.
- The interna7onal sales contract can take various forms, including the fixed price contract, the variable price contract and the immediate delivery contract.
- The parles involved in the internalonal sales contract have various obliga7ons, including the obliga7on to deliver the goods, pay the agreed price, the obliga7on to provide compliant documents and the obliga7on to fulfill any condi7ons specified in the contract.
- Incoterms are a series of interna7onal trade rules that define the responsibili7es of the par7es for the delivery of goods, the costs and risks associated with transport.
- Incoterms include terms such as EXW, FCA, CPT, CIP, DAP, DPU, DDP, FAS, FOB and CFR, each of which specifies the responsibili7es for buying and selling the goods and where risk and costs pass between the par7es.
- Banks play a vital role in interna7onal trade, providing financial services such as payment
processing, issuing documentary credits and offering corporate finance.
- Documentary credits, or leAers of credit, are financial instruments used in interna7onal trade to ensure the secure payment of goods. They involve an agreement between buyer, seller and banks to ensure that the seller receives payment only aTer fulfilling certain documentary condi7ons specified in the documentary credit
